Western Wealth Management LLC Purchases 31,105 Shares of Conagra Brands $CAG

Western Wealth Management LLC raised its position in shares of Conagra Brands (NYSE:CAG) by 205.6% during the second quarter, HoldingsChannel reports. The firm owned 46,232 shares of the company’s stock after purchasing an additional 31,105 shares during the period. Western Wealth Management LLC’s holdings in Conagra Brands were worth $622,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Conagra Brands during the 2nd quarter valued at about $1,071,275,000. State Street Corp lifted its position in Conagra Brands by 2.3% in the 2nd quarter. State Street Corp now owns 26,202,392 shares of the company’s stock worth $536,363,000 after buying an additional 588,435 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Conagra Brands by 9.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 19,323,789 shares of the company’s stock worth $303,771,000 after buying an additional 1,701,624 shares during the last quarter. Invesco Ltd. boosted its stake in Conagra Brands by 13.3% in the fourth quarter. Invesco Ltd. now owns 17,667,780 shares of the company’s stock worth $305,829,000 after buying an additional 2,079,903 shares in the last quarter. Finally, Morgan Stanley grew its position in Conagra Brands by 18.5% during the fourth quarter. Morgan Stanley now owns 15,229,557 shares of the company’s stock valued at $263,624,000 after acquiring an additional 2,376,823 shares during the last quarter. Institutional investors own 83.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on CAG. Barclays lifted their price target on shares of Conagra Brands from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. BNP Paribas Exane reduced their target price on shares of Conagra Brands from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, May 21st. Jefferies Financial Group decreased their target price on shares of Conagra Brands from $15.00 to $13.00 and set a “hold” rating on the stock in a research report on Wednesday, May 27th. UBS Group boosted their price target on shares of Conagra Brands from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Finally, Royal Bank Of Canada cut their price target on shares of Conagra Brands from $16.00 to $14.00 and set a “sector perform” rating for the company in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $14.07.

Conagra Brands Stock Performance

Shares of CAG stock opened at $16.25 on Wednesday. The company has a market capitalization of $7.78 billion, a P/E ratio of -4.06 and a beta of -0.03. Conagra Brands has a fifty-two week low of $12.53 and a fifty-two week high of $20.32. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.31 and a current ratio of 0.90. The stock has a 50 day moving average price of $14.61 and a two-hundred day moving average price of $15.28.

Conagra Brands (NYSE:CAG) last issued its earnings results on Wednesday, July 15th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.46 by $0.01. Conagra Brands had a negative net margin of 16.99% and a positive return on equity of 10.44%. The company had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same period in the previous year, the firm earned $0.56 earnings per share. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. Analysts expect that Conagra Brands will post 1.45 earnings per share for the current year.

Conagra Brands Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Thursday, July 30th will be issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Thursday, July 30th. Conagra Brands’s dividend payout ratio (DPR) is -17.50%.

About Conagra Brands

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.