New York Life Investment Management LLC Acquires 47,537 Shares of Conagra Brands $CAG

New York Life Investment Management LLC raised its holdings in shares of Conagra Brands (NYSE:CAG) by 73.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 112,491 shares of the company’s stock after purchasing an additional 47,537 shares during the quarter. New York Life Investment Management LLC’s holdings in Conagra Brands were worth $2,060,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CAG. Quaker Wealth Management LLC lifted its holdings in Conagra Brands by 202.3% during the 2nd quarter. Quaker Wealth Management LLC now owns 1,227 shares of the company’s stock valued at $25,000 after buying an additional 2,427 shares in the last quarter. CYBER HORNET ETFs LLC purchased a new position in shares of Conagra Brands during the second quarter worth approximately $26,000. MUFG Securities EMEA plc bought a new stake in shares of Conagra Brands during the second quarter valued at approximately $29,000. True Wealth Design LLC boosted its holdings in shares of Conagra Brands by 844.4% in the third quarter. True Wealth Design LLC now owns 1,596 shares of the company’s stock valued at $29,000 after purchasing an additional 1,427 shares during the period. Finally, Clearstead Trust LLC grew its stake in Conagra Brands by 522.1% in the second quarter. Clearstead Trust LLC now owns 1,636 shares of the company’s stock worth $33,000 after purchasing an additional 1,373 shares in the last quarter. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Stock Performance

Shares of CAG stock opened at $19.96 on Friday. Conagra Brands has a 12-month low of $15.96 and a 12-month high of $28.51. The business’s fifty day simple moving average is $17.69 and its 200-day simple moving average is $18.17. The company has a current ratio of 0.89, a quick ratio of 0.28 and a debt-to-equity ratio of 0.80. The company has a market cap of $9.55 billion, a PE ratio of -90.70 and a beta of -0.01.

Conagra Brands (NYSE:CAG) last announced its earnings results on Friday, December 19th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.01. Conagra Brands had a positive return on equity of 10.59% and a negative net margin of 0.87%.The firm had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $3 billion. During the same period in the previous year, the business earned $0.70 EPS. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. Analysts expect that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Tuesday, January 27th will be paid a $0.35 dividend. The ex-dividend date is Tuesday, January 27th. This represents a $1.40 dividend on an annualized basis and a yield of 7.0%. Conagra Brands’s dividend payout ratio (DPR) is -636.36%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CAG shares. Wells Fargo & Company cut their target price on shares of Conagra Brands from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Monday, January 5th. Morgan Stanley reduced their price objective on shares of Conagra Brands from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Friday, January 16th. Jefferies Financial Group lowered their target price on Conagra Brands from $19.00 to $18.00 and set a “hold” rating for the company in a report on Thursday, December 11th. The Goldman Sachs Group reduced their price target on Conagra Brands from $18.00 to $16.00 and set a “sell” rating for the company in a research report on Monday, November 24th. Finally, Evercore dropped their price objective on Conagra Brands from $22.00 to $19.00 in a research report on Friday, January 9th. One research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $18.71.

Conagra Brands Profile

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.