Arrowstreet Capital Limited Partnership Lowers Stock Holdings in Conagra Brands $CAG

Arrowstreet Capital Limited Partnership decreased its position in Conagra Brands (NYSE:CAG) by 29.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,323,001 shares of the company’s stock after selling 3,081,019 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Conagra Brands were worth $115,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of CAG. CYBER HORNET ETFs LLC purchased a new position in Conagra Brands in the 2nd quarter worth $26,000. MUFG Securities EMEA plc bought a new position in shares of Conagra Brands during the second quarter valued at about $29,000. Harbour Investments Inc. grew its stake in shares of Conagra Brands by 80.4% during 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 during the last quarter. Bell Investment Advisors Inc increased its holdings in shares of Conagra Brands by 156.9% in the first quarter. Bell Investment Advisors Inc now owns 1,685 shares of the company’s stock worth $26,000 after buying an additional 1,029 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Conagra Brands in the 3rd quarter valued at about $33,000. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Stock Performance

Conagra Brands stock opened at $14.76 on Friday. Conagra Brands has a twelve month low of $12.53 and a twelve month high of $20.32. The company has a market capitalization of $7.07 billion, a P/E ratio of -3.69 and a beta of -0.02. The stock’s 50 day moving average is $13.69 and its 200 day moving average is $15.61. The company has a quick ratio of 0.31, a current ratio of 0.90 and a debt-to-equity ratio of 1.02.

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

Conagra Brands Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Thursday, July 30th will be given a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Thursday, July 30th. Conagra Brands’s dividend payout ratio is presently -35.00%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Barclays increased their price objective on Conagra Brands from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Stifel Nicolaus lowered their price target on shares of Conagra Brands from $17.00 to $15.00 and set a “hold” rating for the company in a report on Tuesday, April 21st. UBS Group increased 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. BTIG Research initiated coverage on shares of Conagra Brands in a report on Monday, April 13th. They issued a “neutral” rating on the stock. Finally, Royal Bank Of Canada decreased their price objective on shares of Conagra Brands from $16.00 to $14.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 16th. One research analyst has rated the stock with a Buy rating, eleven have given 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 a consensus price target of $14.07.

Conagra Brands 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.