Rhumbline Advisers Acquires 97,397 Shares of Conagra Brands $CAG

Rhumbline Advisers raised its stake in shares of Conagra Brands (NYSE:CAG) by 10.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,065,093 shares of the company’s stock after acquiring an additional 97,397 shares during the quarter. Rhumbline Advisers owned approximately 0.22% of Conagra Brands worth $21,802,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CAG. Quaker Wealth Management LLC boosted its position in Conagra Brands by 202.3% during the second quarter. Quaker Wealth Management LLC now owns 1,227 shares of the company’s stock valued at $25,000 after purchasing an additional 2,427 shares in the last quarter. Clearstead Trust LLC lifted its position in shares of Conagra Brands by 522.1% during the second quarter. Clearstead Trust LLC now owns 1,636 shares of the company’s stock valued at $33,000 after buying an additional 1,373 shares during the last quarter. AlphaCore Capital LLC bought a new stake in shares of Conagra Brands in the 2nd quarter valued at about $37,000. ST Germain D J Co. Inc. boosted its holdings in shares of Conagra Brands by 130.8% in the 2nd quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company’s stock valued at $41,000 after buying an additional 1,129 shares in the last quarter. Finally, Trust Co. of Toledo NA OH purchased a new position in shares of Conagra Brands in the 2nd quarter worth approximately $41,000. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Conagra Brands

In related news, SVP Melissa C. Napier sold 13,011 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $17.19, for a total value of $223,659.09. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.57% of the stock is owned by company insiders.

Conagra Brands Trading Up 0.6%

NYSE:CAG opened at $17.85 on Friday. The company has a market capitalization of $8.54 billion, a P/E ratio of 10.14, a PEG ratio of 1.65 and a beta of 0.03. The company has a current ratio of 1.06, a quick ratio of 0.44 and a debt-to-equity ratio of 0.81. Conagra Brands has a 12 month low of $16.60 and a 12 month high of $28.69. The firm has a fifty day simple moving average of $18.00 and a 200-day simple moving average of $19.57.

Conagra Brands (NYSE:CAG) last released its earnings results on Wednesday, October 1st. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.06. The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.62 billion. Conagra Brands had a return on equity of 11.72% and a net margin of 7.42%.The firm’s revenue was down 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 EPS. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. On average, equities research analysts anticipate that Conagra Brands will post 2.35 earnings per share for the current year.

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Thursday, October 30th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 7.8%. The ex-dividend date was Thursday, October 30th. Conagra Brands’s dividend payout ratio (DPR) is presently 79.55%.

Analyst Ratings Changes

A number of equities research analysts recently commented on CAG shares. The Goldman Sachs Group decreased their target price on shares of Conagra Brands from $18.00 to $16.00 and set a “sell” rating for the company in a research report on Monday. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $22.00 price target on shares of Conagra Brands in a research report on Thursday, October 2nd. Wells Fargo & Company raised their price objective on Conagra Brands from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 2nd. Weiss Ratings restated a “sell (d+)” rating on shares of Conagra Brands in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. initiated coverage on Conagra Brands in a research note on Wednesday, August 20th. They issued a “neutral” rating and a $20.00 price target for the company. One research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $21.50.

About Conagra Brands

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.