Vise Technologies Inc. Acquires 77,855 Shares of Conagra Brands $CAG

Vise Technologies Inc. grew its stake in shares of Conagra Brands (NYSE:CAG) by 77.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 178,120 shares of the company’s stock after buying an additional 77,855 shares during the quarter. Vise Technologies Inc.’s holdings in Conagra Brands were worth $2,394,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Tema ETFs LLC lifted its stake in shares of Conagra Brands by 9.3% in the 2nd quarter. Tema ETFs LLC now owns 8,546 shares of the company’s stock valued at $115,000 after acquiring an additional 725 shares during the last quarter. Cooper Financial Group increased its stake in Conagra Brands by 6.7% in the 3rd quarter. Cooper Financial Group now owns 13,695 shares of the company’s stock worth $184,000 after purchasing an additional 861 shares during the period. Castle Rock Wealth Management LLC increased its stake in Conagra Brands by 3.6% in the 2nd quarter. Castle Rock Wealth Management LLC now owns 26,128 shares of the company’s stock worth $374,000 after purchasing an additional 911 shares during the period. PNC Financial Services Group Inc. lifted its position in Conagra Brands by 0.4% in the first quarter. PNC Financial Services Group Inc. now owns 264,199 shares of the company’s stock valued at $4,153,000 after purchasing an additional 939 shares during the last quarter. Finally, World Investment Advisors lifted its position in Conagra Brands by 9.2% in the first quarter. World Investment Advisors now owns 11,170 shares of the company’s stock valued at $176,000 after purchasing an additional 944 shares during the last quarter. 83.75% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on CAG shares. Royal Bank Of Canada restated a “sector perform” rating and issued a $14.00 target price on shares of Conagra Brands in a report on Thursday, October 1st. Zacks Research raised shares of Conagra Brands from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 1st. Barclays lowered their price target on shares of Conagra Brands from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Friday, October 2nd. JPMorgan Chase & Co. increased their price target on shares of Conagra Brands from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Finally, Evercore set a $13.00 price target on shares of Conagra Brands in a report on Tuesday, September 29th. One research analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $14.07.

Conagra Brands Price Performance

CAG stock opened at $15.50 on Friday. Conagra Brands has a 1 year low of $12.53 and a 1 year high of $20.32. The company has a market cap of $7.40 billion, a P/E ratio of -3.89 and a beta of 0.02. The firm has a 50-day moving average of $14.57 and a 200 day moving average of $15.28. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.10 and a quick ratio of 0.39.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Wednesday, September 30th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.13. Conagra Brands had a positive return on equity of 11.46% and a negative net margin of 16.95%. The business had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.59 billion. During the same period in the previous year, the firm posted $0.39 EPS. The business’s revenue was down 1.4% on a year-over-year basis. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. On average, sell-side analysts forecast that Conagra Brands will post 1.46 EPS for the current year.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Thursday, November 5th will be given a dividend of $0.1750 per share. The ex-dividend date is Thursday, November 5th. This represents a $0.70 annualized dividend and a dividend yield of 4.5%. Conagra Brands’s payout ratio is currently -17.59%.

About Conagra Brands

Conagra Brands, Inc is a packaged food company that develops, manufactures and markets branded food products for retail, foodservice and other commercial customers. The company’s portfolio includes frozen meals and side dishes, snacks, refrigerated foods, shelf-stable groceries, condiments and cooking products.

Its brands include Birds Eye, Healthy Choice, Marie Callender’s, Banquet, Duncan Hines, Reddi-wip, Hunt’s, Slim Jim, Orville Redenbacher’s, Chef Boyardee, Hebrew National, Vlasic and PAM.