Sutton Place Investors LLC Invests $446,000 in Conagra Brands $CAG

Sutton Place Investors LLC purchased a new position in shares of Conagra Brands (NYSE:CAG) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 33,160 shares of the company’s stock, valued at approximately $446,000.

A number of other hedge funds have also recently added to or reduced their stakes in CAG. WealthPlan Investment Management LLC raised its stake in shares of Conagra Brands by 5.3% during the 4th quarter. WealthPlan Investment Management LLC now owns 10,920 shares of the company’s stock worth $189,000 after buying an additional 548 shares in the last quarter. All Terrain Financial Advisors LLC lifted its holdings in shares of Conagra Brands by 0.3% in the 4th quarter. All Terrain Financial Advisors LLC now owns 176,971 shares of the company’s stock valued at $3,063,000 after buying an additional 609 shares during the period. Jackson Hole Capital Partners LLC boosted its stake in shares of Conagra Brands by 4.1% in the fourth quarter. Jackson Hole Capital Partners LLC now owns 17,960 shares of the company’s stock valued at $311,000 after buying an additional 701 shares in the last quarter. Harbour Investments Inc. boosted its stake in shares of Conagra Brands by 80.4% in the fourth quarter. Harbour Investments Inc. now owns 1,573 shares of the company’s stock valued at $27,000 after buying an additional 701 shares in the last quarter. Finally, Tema ETFs LLC grew its holdings in Conagra Brands by 9.3% during the second quarter. Tema ETFs LLC now owns 8,546 shares of the company’s stock worth $115,000 after acquiring an additional 725 shares during the period. Institutional investors and hedge funds own 83.75% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Wells Fargo & Company cut their price objective on Conagra Brands from $14.00 to $13.00 and set an “underweight” rating for the company in a research report on Monday, May 18th. UBS Group boosted their target price on shares of Conagra Brands from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $12.00 price target (down from $16.00) on shares of Conagra Brands in a research note on Wednesday, June 3rd. Evercore cut their price target on shares of Conagra Brands from $18.00 to $13.00 in a report on Wednesday, June 10th. Finally, Morgan Stanley cut their price target on shares of Conagra Brands from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Friday, June 5th. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat.com, Conagra Brands presently has a consensus rating of “Reduce” and an average price target of $14.07.

Conagra Brands Stock Performance

CAG opened at $15.63 on Friday. The stock has a market cap of $7.48 billion, a P/E ratio of -3.91 and a beta of -0.03. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.90 and a quick ratio of 0.31. The stock’s 50 day simple moving average is $14.24 and its 200 day simple moving average is $15.42. Conagra Brands has a 1-year low of $12.53 and a 1-year high of $20.32.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Wednesday, July 15th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.01. The firm had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.89 billion. Conagra Brands had a positive return on equity of 10.44% and a negative net margin of 16.99%.Conagra Brands’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the business posted $0.56 EPS. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. As a group, equities analysts anticipate that Conagra Brands will post 1.45 EPS for the current fiscal year.

Conagra Brands Cuts Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $0.70 annualized dividend and a yield of 4.5%. Conagra Brands’s dividend payout ratio 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.