Conagra Brands (NYSE:CAG) Stock Acquired Sen. Gary C. Peters

Senator Gary C. Peters (D-Michigan) recently bought shares of Conagra Brands (NYSE:CAG). In a filing disclosed on December 04th, the Senator disclosed that they had bought between $1,001 and $15,000 in Conagra Brands stock on November 14th.

Conagra Brands Stock Up 0.6%

CAG opened at $17.06 on Friday. Conagra Brands has a one year low of $16.60 and a one year high of $28.51. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.44 and a current ratio of 1.06. The stock has a market capitalization of $8.16 billion, a P/E ratio of 9.69 and a beta of -0.01. The business’s 50-day simple moving average is $17.88 and its 200-day simple moving average is $19.31.

Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Wednesday, October 1st. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.06. Conagra Brands had a return on equity of 11.72% and a net margin of 7.42%.The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter last year, the business posted $0.53 EPS. The firm’s quarterly revenue was down 5.8% compared to the same quarter last year. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. Analysts anticipate that Conagra Brands will post 2.35 EPS for the current year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Thursday, October 30th were given a dividend of $0.35 per share. The ex-dividend date was Thursday, October 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 8.2%. Conagra Brands’s payout ratio is 79.55%.

Hedge Funds Weigh In On Conagra Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in CAG. Allworth Financial LP boosted its stake in shares of Conagra Brands by 69.0% during the 3rd quarter. Allworth Financial LP now owns 12,161 shares of the company’s stock worth $223,000 after acquiring an additional 4,966 shares in the last quarter. IFP Advisors Inc grew its holdings in Conagra Brands by 32.0% in the third quarter. IFP Advisors Inc now owns 209,446 shares of the company’s stock valued at $3,869,000 after purchasing an additional 50,776 shares during the last quarter. Groupama Asset Managment increased its position in shares of Conagra Brands by 31.5% in the third quarter. Groupama Asset Managment now owns 23,112 shares of the company’s stock valued at $423,000 after buying an additional 5,533 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Conagra Brands by 15.6% in the third quarter. JPMorgan Chase & Co. now owns 3,021,478 shares of the company’s stock valued at $55,323,000 after buying an additional 408,597 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its stake in shares of Conagra Brands by 43.6% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,840 shares of the company’s stock worth $89,000 after buying an additional 1,470 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Wall Street Analysts Forecast Growth

CAG has been the subject of several research reports. UBS Group reduced their price target on shares of Conagra Brands from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, September 24th. Zacks Research raised shares of Conagra Brands from a “strong sell” rating to a “hold” rating in a report on Thursday, October 2nd. Royal Bank Of Canada reiterated a “sector perform” rating and set a $22.00 target price on shares of Conagra Brands in a research note on Thursday, October 2nd. Morgan Stanley boosted their price target on Conagra Brands from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 24th. Finally, Evercore ISI decreased their price objective on Conagra Brands from $24.00 to $23.00 and set an “in-line” rating for the company in a research report on Wednesday, September 24th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $21.50.

Insider Buying and Selling

In related news, SVP Melissa C. Napier sold 13,011 shares of the stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $17.19, for a total value of $223,659.09. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.57% of the company’s stock.

About Senator Peters

Gary Peters (Democratic Party) is a member of the U.S. Senate from Michigan. He assumed office on January 3, 2015. His current term ends on January 3, 2027. Peters (Democratic Party) ran for re-election to the U.S. Senate to represent Michigan. He won in the general election on November 3, 2020. Peters completed Ballotpedia’s Candidate Connection survey in 2020. Click here to read the survey answers. Peters was elected to the Senate in 2014. On May 1, 2013, Peters announced he would seek election to the United States Senate seat that was being vacated in 2014 by retiring Michigan Sen. Carl Levin. Peters ran unopposed in the Democratic primary on August 5, 2014, before he defeated Terri Lynn Land (R), Jim Fulner (Libertarian), Richard Matkin (U.S. Taxpayers), and Chris Wahmhoff (Green) in the general election on November 4, 2014. Peters was previously a member of the U.S. House of Representatives representing Michigan’s 9th Congressional District from 2009 to 2013 and Michigan’s 14th Congressional District from 2013 to 2015. He also served as Commissioner of the Michigan Lottery from 2003 to 2007. As of a 2014 analysis of multiple outside rankings, Peters is an average Democratic member of Congress, meaning he will vote with the Democratic Party on the majority of bills. On January 28, 2021, Senate Majority Leader Chuck Schumer (D-N.Y.) appointed Peters to head the Democratic Senatorial Campaign Committee for the 2022 campaign cycle. Peters was born in 1958 in Pontiac, Michigan. After graduating from Alma College in 1980, Peters went on to receive his M.B.A. from the University of Detroit and his J.D. from Wayne State University in 1985 and 1989, respectively. Prior to his political career, Peters worked as a professor and investment banker. He also served in the United States Naval Reserve from 1993 to 2000 and from 2001 to 2005.

About Conagra Brands

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.