Collar Capital Management LLC Purchases New Stake in Conagra Brands $CAG

Collar Capital Management LLC acquired a new position in shares of Conagra Brands (NYSE:CAG) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 131,868 shares of the company’s stock, valued at approximately $2,415,000. Conagra Brands makes up 1.7% of Collar Capital Management LLC’s holdings, making the stock its 25th biggest holding.

Several other large investors also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Conagra Brands during the 2nd quarter worth $172,475,000. Ameriprise Financial Inc. increased its position in Conagra Brands by 69.5% during the second quarter. Ameriprise Financial Inc. now owns 10,145,798 shares of the company’s stock worth $207,685,000 after purchasing an additional 4,160,542 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in Conagra Brands by 315.4% during the second quarter. Robeco Institutional Asset Management B.V. now owns 4,120,156 shares of the company’s stock worth $84,340,000 after purchasing an additional 3,128,203 shares during the period. Cullen Capital Management LLC boosted its holdings in Conagra Brands by 4,497.6% in the 2nd quarter. Cullen Capital Management LLC now owns 2,740,013 shares of the company’s stock valued at $56,088,000 after purchasing an additional 2,680,417 shares during the last quarter. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of Conagra Brands in the 2nd quarter valued at approximately $35,413,000. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Stock Performance

Shares of Conagra Brands stock opened at $17.04 on Friday. The stock has a market capitalization of $8.15 billion, a price-to-earnings ratio of -77.43 and a beta of -0.01. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.89 and a quick ratio of 0.28. The business has a 50-day moving average of $17.55 and a 200 day moving average of $18.84. Conagra Brands has a 12 month low of $16.60 and a 12 month high of $28.51.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Friday, December 19th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.01. Conagra Brands had a negative net margin of 0.87% and a positive return on equity of 10.59%. The business had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $3 billion. During the same quarter in the prior year, the company earned $0.70 earnings per share. The business’s quarterly revenue was down 6.8% on a year-over-year basis. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. As a group, sell-side analysts forecast that Conagra Brands will post 2.35 earnings per share for the current year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Tuesday, January 27th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 8.2%. The ex-dividend date of this dividend is Tuesday, January 27th. Conagra Brands’s dividend payout ratio (DPR) is currently -636.36%.

Insider Activity at Conagra Brands

In other news, SVP Melissa C. Napier sold 13,011 shares of the company’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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.57% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Stifel Nicolaus reduced their price target on shares of Conagra Brands from $21.00 to $19.00 and set a “hold” rating on the stock in a research report on Thursday, December 11th. Zacks Research raised Conagra Brands from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 2nd. Morgan Stanley cut their price objective on Conagra Brands from $21.00 to $19.00 and set an “equal weight” rating for the company in a research report on Monday. Bank of America reduced their price objective on shares of Conagra Brands from $18.00 to $17.00 and set an “underperform” rating on the stock in a report on Monday. Finally, JPMorgan Chase & Co. lowered their target price on shares of Conagra Brands from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday, December 16th. One analyst has rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $19.07.

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.