Focus Partners Advisor Solutions LLC Acquires Shares of 59,482 Conagra Brands $CAG

Focus Partners Advisor Solutions LLC purchased a new stake in shares of Conagra Brands (NYSE:CAG) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 59,482 shares of the company’s stock, valued at approximately $801,000.

Several other institutional investors and hedge funds have also bought and sold shares of CAG. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its holdings in Conagra Brands by 24.8% in the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 661,029 shares of the company’s stock valued at $11,442,000 after acquiring an additional 131,287 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Conagra Brands by 23.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 8,125,901 shares of the company’s stock worth $140,659,000 after purchasing an additional 1,554,725 shares in the last quarter. Leonteq Securities AG purchased a new stake in shares of Conagra Brands in the 4th quarter worth about $2,415,000. Marathon Trading Investment Management LLC purchased a new stake in shares of Conagra Brands in the 4th quarter worth about $1,367,000. Finally, Hsbc Holdings PLC boosted its stake in shares of Conagra Brands by 25.0% during the 4th quarter. Hsbc Holdings PLC now owns 785,989 shares of the company’s stock valued at $13,634,000 after purchasing an additional 157,423 shares in the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on CAG shares. BNP Paribas Exane cut their price objective on Conagra Brands from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, May 21st. Evercore lowered their target price on Conagra Brands from $18.00 to $13.00 in a research note on Wednesday, June 10th. Stifel Nicolaus dropped their price target on Conagra Brands from $17.00 to $15.00 and set a “hold” rating on the stock in a research report on Tuesday, April 21st. Wells Fargo & Company reduced their price target on Conagra Brands from $14.00 to $13.00 and set an “underweight” rating on the stock in a research note on Monday, May 18th. Finally, UBS Group increased their price objective on Conagra Brands from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Conagra Brands presently has an average rating of “Reduce” and an average target price of $14.07.

Conagra Brands Stock Performance

Shares of CAG stock opened at $15.55 on Tuesday. The company has a quick ratio of 0.31, a current ratio of 0.90 and a debt-to-equity ratio of 1.02. The company has a 50 day moving average price of $14.28 and a 200-day moving average price of $15.38. Conagra Brands has a 52 week low of $12.53 and a 52 week high of $20.32. The firm has a market capitalization of $7.44 billion, a PE ratio of -3.89 and a beta of -0.03.

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

Conagra Brands Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Thursday, July 30th will be paid a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Thursday, July 30th. Conagra Brands’s dividend payout ratio is -17.50%.

Conagra Brands Company 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.