Redwood Investment Management LLC Makes New $829,000 Investment in Conagra Brands $CAG

Redwood Investment Management LLC purchased a new stake in shares of Conagra Brands (NYSE:CAG) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 61,581 shares of the company’s stock, valued at approximately $829,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CAG. CYBER HORNET ETFs LLC purchased a new stake in Conagra Brands in the second quarter valued at approximately $26,000. MUFG Securities EMEA plc acquired a new position in Conagra Brands during the second quarter worth $29,000. Harbour Investments Inc. boosted its position 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 worth $27,000 after buying an additional 701 shares during the period. Bell Investment Advisors Inc boosted its position in shares of Conagra Brands by 156.9% during 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 acquired a new stake in shares of Conagra Brands in the third quarter valued at $33,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Stock Down 1.2%

Conagra Brands stock opened at $16.00 on Friday. Conagra Brands has a twelve month low of $12.53 and a twelve month high of $20.32. The stock’s fifty day simple moving average is $14.73 and its 200-day simple moving average is $15.24. The company has a current ratio of 0.90, a quick ratio of 0.31 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $7.66 billion, a P/E ratio of -4.00 and a beta of -0.03.

Conagra Brands (NYSE:CAG) last released its earnings results on Wednesday, July 15th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. Conagra Brands had a positive return on equity of 10.44% and a negative net margin of 16.99%.The firm had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same period last year, the business posted $0.56 earnings per share. Conagra Brands’s 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. As a group, equities analysts expect that Conagra Brands will post 1.45 earnings per share for the current fiscal year.

Conagra Brands Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Thursday, July 30th will be given a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 4.4%. The ex-dividend date is Thursday, July 30th. Conagra Brands’s payout ratio is -17.50%.

Wall Street Analyst Weigh In

CAG has been the topic of several research analyst reports. 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 report on Thursday, May 21st. Wells Fargo & Company lowered their target price on Conagra Brands from $14.00 to $13.00 and set an “underweight” rating for the company in a report on Monday, May 18th. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $12.00 target price (down from $16.00) on shares of Conagra Brands in a research report on Wednesday, June 3rd. Morgan Stanley cut their price target on shares of Conagra Brands from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Friday, June 5th. Finally, Royal Bank Of Canada lowered their price objective on shares of Conagra Brands from $16.00 to $14.00 and set a “sector perform” rating for the company in a research note on Thursday, July 16th. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $14.07.

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.