In a recent filing with the Securities and Exchange Commission, Bailard Inc. announced that its position in Conagra Brands, Inc. (NYSE:CAG) has grown by 32.3% during the second quarter of this year. The institutional investor now owns 18,273 shares of the company’s stock, an increase of 4,464 shares from the previous quarter.
At the end of the second quarter, Bailard Inc.’s holdings in Conagra Brands were valued at $616,000. This growth in position could indicate a positive outlook on the company’s performance and potential for future returns.
Conagra Brands reported its quarterly earnings data on July 13th, revealing earnings per share of $0.62 for the quarter. This surpassed analysts’ consensus estimates by $0.02, demonstrating a strong performance by the company.
The firm also recorded revenue of $2.97 billion for the quarter, slightly lower than analyst estimates of $3 billion. Despite this minor discrepancy, Conagra Brands experienced a 2.2% increase in quarterly revenue compared to the previous year.
It is worth noting that Conagra Brands achieved a return on equity of 15.19% during this period and maintained a net margin of 5.57%. These figures further illustrate the company’s ability to generate profits while effectively managing costs.
Looking ahead, industry experts predict that Conagra Brands will post earnings per share of 2.71 for the current fiscal year. This projection emphasizes continued growth and stability within the company.
By expanding its holdings in Conagra Brands during this critical reporting period, Bailard Inc.’s decision highlights confidence in the company’s financial performance and long-term prospects.
Investors will continue to monitor these developments closely as they analyze opportunities within the consumer packaged goods industry and assess potential gains from investing in companies like Conagra Brands.
Changing Landscape: Adjustments and Analysis of Conagra Brands by Institutional Investors
October 3, 2023 – Over the past few months, an array of hedge funds and institutional investors have been making adjustments to their holdings of Conagra Brands, a leading food company. Integrated Wealth Concepts LLC increased its ownership in shares of Conagra Brands by a modest 2.9% during the first quarter. Similarly, Jeppson Wealth Management LLC witnessed a 3.9% rise in its holdings during the same period.
M&T Bank Corp also joined the list of investors who made changes to their Conagra Brands stock. They raised their holdings by 0.5% during the first quarter. Farmers & Merchants Investments Inc. and Ellevest Inc., two other major stakeholders, experienced increases of 1.7% and 4.2%, respectively.
According to recent reports, approximately 84.27% of Conagra Brands’ stock is currently owned by institutional investors and hedge funds. This diverse group of investors plays a significant role in shaping the company’s financial landscape.
In terms of financial analysis, several brokerage firms recently assessed Conagra Brands’ performance in order to provide recommendations to potential investors. JPMorgan Chase & Co., for instance, lowered their price target from $38.00 to $37.00 while maintaining a “neutral” rating on the stock.
Similarly, StockNews.com initiated coverage on Conagra Brands and issued a “hold” rating on its stock in a research note released on August 17th. UBS Group also cut their price target from $44.00 to $40.00 back in July while maintaining an optimistic outlook for the company’s prospects.
Bank of America followed suit with their price target reduction from $40.00 to $38.00 on July 14th, providing further insights into Conagra Brands’ performance as observed in recent times.
Furthermore, Deutsche Bank Aktiengesellschaft revised their target price downwards from $36.00 to $35.00, contributing to the overall average target price of $37.62 for Conagra Brands’ stock.
In other news, the company’s Chief Operating Officer (COO), Thomas M. Mcgough, recently sold 75,522 shares of Conagra Brands stock in a transaction that took place on August 2nd. The shares were sold at an average price of $33.07, resulting in a total transaction value of approximately $2,497,512.54.
Following the sale, Mcgough currently possesses 157,125 shares directly in the company with an estimated value of around $5,196,123.75. This transaction was disclosed in accordance with legal regulations filed with the SEC and is accessible through a provided hyperlink.
At present, shares of Conagra Brands on the New York Stock Exchange (NYSE:CAG) opened at $26.79 on Tuesday. The food company maintains a quick ratio of 0.26 and a current ratio of 0.76 while maintaining a debt-to-equity ratio of 0.80.
Conagra Brands has experienced fluctuations in its share prices over time as demonstrated by its 52-week range from $26.63 to $41.30.
With a market capitalization of approximately $12.78 billion and key financial ratios such as a P/E ratio of 18.87 and a PEG ratio of 3.19; Conagra Brands exhibits significant potential for investors seeking growth opportunities within the food industry.
As these changes continue to shape Conagra Brands’ landscape within the investment community, it remains both intriguing and challenging for stakeholders to interpret the implications behind these recent developments.`