133,431 Shares of Conagra Brands $CAG Purchased by Hohimer Wealth Management LLC

Hohimer Wealth Management LLC purchased a new position in shares of Conagra Brands (NYSE:CAG) in the third quarter, HoldingsChannel reports. The institutional investor purchased 133,431 shares of the company’s stock, valued at approximately $1,793,000.

Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Conagra Brands in the 2nd quarter worth approximately $1,071,275,000. Bank of New York Mellon Corp acquired a new stake in Conagra Brands in the 2nd quarter valued at $47,815,000. Freestone Grove Partners LP bought a new stake in Conagra Brands in the second quarter valued at $30,316,000. Bank of America Corp DE bought a new stake in Conagra Brands in the second quarter valued at $25,047,000. Finally, Dimensional Fund Advisors LP raised its stake in Conagra Brands by 9.7% during the first quarter. Dimensional Fund Advisors LP now owns 19,323,789 shares of the company’s stock worth $303,771,000 after acquiring an additional 1,701,624 shares in the last quarter. 83.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Evercore set a $13.00 target price on shares of Conagra Brands in a research report on Tuesday, September 29th. UBS Group boosted their price target on shares of Conagra Brands from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Barclays dropped their price objective on shares of Conagra Brands from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Friday, October 2nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Conagra Brands in a research note on Tuesday, September 22nd. Finally, JPMorgan Chase & Co. boosted their target price on Conagra Brands from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. One investment analyst has rated the stock with a Buy rating, twelve have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $14.07.

Conagra Brands Trading Up 0.1%

CAG opened at $15.26 on Tuesday. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.10 and a quick ratio of 0.39. The company has a market cap of $7.28 billion, a price-to-earnings ratio of -3.83 and a beta of 0.02. The firm has a 50 day simple moving average of $14.54 and a 200 day simple moving average of $15.26. Conagra Brands has a fifty-two week low of $12.53 and a fifty-two week high of $20.32.

Conagra Brands (NYSE:CAG) last issued its earnings results on Wednesday, September 30th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.13. The firm had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.59 billion. Conagra Brands had a positive return on equity of 11.46% and a negative net margin of 16.95%. The company’s revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.39 earnings per share. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. On average, sell-side analysts anticipate that Conagra Brands will post 1.46 earnings per share for the current year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Thursday, November 5th will be paid a $0.1750 dividend. This represents a $0.70 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Thursday, November 5th. Conagra Brands’s dividend payout ratio is presently -17.59%.

About Conagra Brands

Conagra Brands is a packaged-food company that develops, manufactures and markets products for retail, foodservice and other customers. Its offerings include frozen meals and vegetables, snacks, baking products, condiments, cooking ingredients and meat snacks.

The company’s portfolio includes brands such as Birds Eye, Healthy Choice, Marie Callender’s, Duncan Hines, Slim Jim, Orville Redenbacher’s, Hunt’s, Banquet and Reddi-wip. Its products are sold primarily in the United States, as well as in international markets.

Conagra traces its roots to Nebraska Consolidated Mills, founded in 1919.