Advisors Asset Management Inc. Raises Stake in Conagra Brands $CAG

Advisors Asset Management Inc. boosted its stake in shares of Conagra Brands (NYSE:CAG) by 23.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 361,741 shares of the company’s stock after acquiring an additional 69,093 shares during the quarter. Advisors Asset Management Inc. owned about 0.08% of Conagra Brands worth $7,405,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. TD Asset Management Inc increased its position in Conagra Brands by 13.1% during the 1st quarter. TD Asset Management Inc now owns 221,878 shares of the company’s stock worth $5,917,000 after purchasing an additional 25,766 shares during the period. Empirical Finance LLC boosted its stake in shares of Conagra Brands by 5.4% during the 1st quarter. Empirical Finance LLC now owns 17,064 shares of the company’s stock worth $455,000 after purchasing an additional 877 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Conagra Brands by 6.8% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 259,697 shares of the company’s stock worth $6,926,000 after purchasing an additional 16,546 shares during the period. LPL Financial LLC increased its stake in shares of Conagra Brands by 4.8% during the 1st quarter. LPL Financial LLC now owns 471,254 shares of the company’s stock valued at $12,568,000 after acquiring an additional 21,715 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of Conagra Brands by 13.3% during the 1st quarter. Mackenzie Financial Corp now owns 102,719 shares of the company’s stock valued at $2,740,000 after buying an additional 12,061 shares during the period. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Price Performance

Shares of NYSE:CAG opened at $17.73 on Wednesday. The stock’s 50 day moving average price is $18.04 and its 200 day moving average price is $19.60. The stock has a market cap of $8.48 billion, a price-to-earnings ratio of 10.07, a PEG ratio of 1.65 and a beta of 0.03. Conagra Brands has a 12 month low of $16.60 and a 12 month high of $28.69. 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 posted its quarterly 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 company had revenue of $2.63 billion for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the company earned $0.53 earnings per share. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Thursday, October 30th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 7.9%. The ex-dividend date is Thursday, October 30th. Conagra Brands’s payout ratio is currently 79.55%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Zacks Research raised shares of Conagra Brands from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 2nd. JPMorgan Chase & Co. began coverage on Conagra Brands in a report on Wednesday, August 20th. They set a “neutral” rating and a $20.00 target price on the stock. Evercore ISI reduced their price target on Conagra Brands from $24.00 to $23.00 and set an “in-line” rating for the company in a report on Wednesday, September 24th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Conagra Brands in a research note on Wednesday, October 8th. Finally, Morgan Stanley boosted their price objective on shares of Conagra Brands from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 24th. One research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Conagra Brands currently has an average rating of “Reduce” and an average price target of $21.50.

Insider Activity at Conagra Brands

In other Conagra Brands news, SVP Melissa C. Napier sold 13,011 shares of the business’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available at this link. 0.57% of the stock is currently owned by company insiders.

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.