Two Sigma Securities LLC Buys 71,476 Shares of Conagra Brands $CAG

Two Sigma Securities LLC increased its position in Conagra Brands (NYSE:CAG) by 268.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,138 shares of the company’s stock after acquiring an additional 71,476 shares during the quarter. Two Sigma Securities LLC’s holdings in Conagra Brands were worth $1,321,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. NewEdge Advisors LLC increased its stake in Conagra Brands by 4.2% in the 1st quarter. NewEdge Advisors LLC now owns 23,541 shares of the company’s stock worth $628,000 after buying an additional 954 shares in the last quarter. United Services Automobile Association bought a new stake in Conagra Brands during the first quarter valued at about $225,000. Empowered Funds LLC lifted its position in shares of Conagra Brands by 5.9% in the first quarter. Empowered Funds LLC now owns 36,356 shares of the company’s stock valued at $970,000 after acquiring an additional 2,038 shares in the last quarter. Woodline Partners LP boosted its stake in shares of Conagra Brands by 40.7% in the first quarter. Woodline Partners LP now owns 40,326 shares of the company’s stock worth $1,075,000 after acquiring an additional 11,664 shares during the period. Finally, Gamco Investors INC. ET AL boosted its stake in shares of Conagra Brands by 3.9% in the second quarter. Gamco Investors INC. ET AL now owns 50,450 shares of the company’s stock worth $1,033,000 after acquiring an additional 1,900 shares during the period. 83.75% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CAG has been the subject of several research analyst reports. Sanford C. Bernstein reiterated an “underperform” rating and set a $12.00 target price (down from $16.00) on shares of Conagra Brands in a research report on Wednesday, June 3rd. Zacks Research cut Conagra Brands from a “hold” rating to a “strong sell” rating in a report on Monday, May 11th. Wells Fargo & Company dropped their price target on Conagra Brands from $14.00 to $13.00 and set an “underweight” rating for the company in a research note on Monday, May 18th. Jefferies Financial Group cut their price objective on shares of Conagra Brands from $15.00 to $13.00 and set a “hold” rating for the company in a report on Wednesday, May 27th. Finally, Evercore reduced their price objective on shares of Conagra Brands from $18.00 to $13.00 in a research report on Wednesday, June 10th. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $14.07.

Conagra Brands Stock Performance

NYSE:CAG opened at $16.02 on Tuesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.90 and a quick ratio of 0.31. Conagra Brands has a 1 year low of $12.53 and a 1 year high of $20.32. The stock’s 50 day simple moving average is $14.85 and its two-hundred day simple moving average is $15.19. The company has a market cap of $7.67 billion, a price-to-earnings ratio of -4.00 and a beta of -0.03.

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

Conagra Brands Cuts Dividend

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

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.