Ontario Teachers Pension Plan Board Purchases New Shares in Conagra Brands $CAG

Ontario Teachers Pension Plan Board acquired a new stake in Conagra Brands (NYSE:CAG) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 39,711 shares of the company’s stock, valued at approximately $813,000.

Several other large investors also recently made changes to their positions in the business. Victory Capital Management Inc. grew its stake in shares of Conagra Brands by 11.9% during the first quarter. Victory Capital Management Inc. now owns 842,094 shares of the company’s stock valued at $22,459,000 after purchasing an additional 89,445 shares during the last quarter. IFP Advisors Inc lifted its holdings in Conagra Brands by 32.2% during the 1st quarter. IFP Advisors Inc now owns 135,790 shares of the company’s stock worth $3,624,000 after buying an additional 33,087 shares in the last quarter. J.W. Cole Advisors Inc. bought a new position in Conagra Brands in the 1st quarter valued at $1,003,000. Teachers Retirement System of The State of Kentucky increased its stake in shares of Conagra Brands by 4.0% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 36,852 shares of the company’s stock valued at $983,000 after buying an additional 1,408 shares during the period. Finally, Sargent Investment Group LLC raised its position in shares of Conagra Brands by 43.5% during the first quarter. Sargent Investment Group LLC now owns 21,015 shares of the company’s stock worth $560,000 after acquiring an additional 6,375 shares during the last quarter. Institutional investors own 83.75% of the company’s stock.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CAG. JPMorgan Chase & Co. began coverage on Conagra Brands in a research note on Wednesday, August 20th. They set a “neutral” rating and a $20.00 price target on the stock. Evercore ISI dropped their price objective on Conagra Brands from $24.00 to $23.00 and set an “in-line” rating for the company in a report on Wednesday, September 24th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Conagra Brands in a research note on Wednesday, October 8th. Wells Fargo & Company lifted their price target on shares of Conagra Brands from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 2nd. Finally, UBS Group cut their price objective on shares of Conagra Brands from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, September 24th. One research 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. Based on data from MarketBeat, Conagra Brands currently has a consensus rating of “Reduce” and an average target price of $21.92.

Conagra Brands Price Performance

Conagra Brands stock opened at $17.12 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 0.44 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $8.19 billion, a P/E ratio of 9.73, a PEG ratio of 1.65 and a beta of 0.03. The business has a 50-day moving average of $18.24 and a 200-day moving average of $19.84. Conagra Brands has a 1 year low of $16.60 and a 1 year high of $28.69.

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

Conagra Brands Dividend Announcement

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

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.