Oppenheimer Asset Management Inc. Invests $5.93 Million in Conagra Brands $CAG

Oppenheimer Asset Management Inc. bought a new stake in Conagra Brands (NYSE:CAG) in the second quarter, HoldingsChannel.com reports. The fund bought 289,912 shares of the company’s stock, valued at approximately $5,934,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. MQS Management LLC acquired a new position in Conagra Brands in the second quarter valued at approximately $890,000. City State Bank boosted its stake in Conagra Brands by 32.6% in the second quarter. City State Bank now owns 6,571 shares of the company’s stock valued at $135,000 after acquiring an additional 1,616 shares during the period. AlphaQuest LLC boosted its stake in Conagra Brands by 19,749.3% in the second quarter. AlphaQuest LLC now owns 58,754 shares of the company’s stock valued at $1,203,000 after acquiring an additional 58,458 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in Conagra Brands by 8.8% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,416,807 shares of the company’s stock valued at $29,002,000 after acquiring an additional 114,222 shares during the period. Finally, Asset Management One Co. Ltd. boosted its stake in Conagra Brands by 1.3% in the second quarter. Asset Management One Co. Ltd. now owns 382,807 shares of the company’s stock valued at $7,836,000 after acquiring an additional 4,836 shares during the period. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CAG shares. Zacks Research upgraded Conagra Brands from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 2nd. Stifel Nicolaus decreased their target price on Conagra Brands from $26.00 to $21.00 and set a “hold” rating for the company in a research note on Friday, July 11th. JPMorgan Chase & Co. began coverage on Conagra Brands in a report on Wednesday, August 20th. They set a “neutral” rating and a $20.00 price target on the stock. Morgan Stanley lifted their price target on Conagra Brands from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Wednesday, September 24th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $22.00 price target on shares of Conagra Brands in a report on Thursday, October 2nd. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $21.92.

Conagra Brands Price Performance

Shares of NYSE:CAG opened at $18.49 on Tuesday. Conagra Brands has a 12 month low of $17.89 and a 12 month high of $29.91. The stock has a market cap of $8.84 billion, a price-to-earnings ratio of 10.50, a PEG ratio of 1.73 and a beta of 0.03. The stock’s 50 day moving average price is $18.81 and its 200 day moving average price is $20.70. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.06 and a quick ratio of 0.44.

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

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, October 30th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, October 30th. This represents a $1.40 annualized dividend and a yield of 7.6%. Conagra Brands’s payout ratio is presently 79.55%.

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.