Conagra Brands $CAG Shares Sold by Vanguard Group Inc.

by · The Markets Daily

Vanguard Group Inc. reduced its holdings in Conagra Brands (NYSE:CAG – Free Report) by 2.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 59,613,647 shares of the company’s stock after selling 1,756,229 shares during the period. Vanguard Group Inc. owned about 0.12% of Conagra Brands worth $1,091,526,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. State Street Corp lifted its holdings in Conagra Brands by 2.3% in the second quarter. State Street Corp now owns 26,202,392 shares of the company’s stock worth $536,363,000 after acquiring an additional 588,435 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Conagra Brands by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 12,870,239 shares of the company’s stock worth $262,405,000 after purchasing an additional 193,829 shares during the period. Invesco Ltd. raised its position in shares of Conagra Brands by 4.7% during the 2nd quarter. Invesco Ltd. now owns 12,414,110 shares of the company’s stock worth $254,117,000 after purchasing an additional 554,125 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Conagra Brands by 69.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 10,145,798 shares of the company’s stock worth $207,685,000 after purchasing an additional 4,160,542 shares during the last quarter. Finally, Norges Bank acquired a new position in Conagra Brands during the 2nd quarter valued at approximately $172,475,000. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Trading Down 1.3%

Shares of NYSE:CAG opened at $18.45 on Friday. The company has a 50 day moving average of $17.89 and a 200-day moving average of $18.18. The company has a current ratio of 0.89, a quick ratio of 0.28 and a debt-to-equity ratio of 0.80. The firm has a market cap of $8.82 billion, a P/E ratio of -83.85 and a beta of -0.01. Conagra Brands has a twelve month low of $15.96 and a twelve month high of $28.51.

Conagra Brands (NYSE:CAG – Get Free Report) last announced its earnings results on Friday, December 19th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.44 by $0.01. The firm had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $3 billion. Conagra Brands had a positive return on equity of 10.59% and a negative net margin of 0.87%.The firm’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.70 earnings per share. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. As a group, 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 Thursday, February 26th. Investors of record on Tuesday, January 27th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, January 27th. This represents a $1.40 annualized dividend and a yield of 7.6%. Conagra Brands’s dividend payout ratio (DPR) is currently -636.36%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Sanford C. Bernstein dropped their target price on Conagra Brands from $21.00 to $18.00 and set a “market perform” rating on the stock in a research report on Monday, December 22nd. JPMorgan Chase & Co. dropped their price objective on shares of Conagra Brands from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday, December 16th. Evercore reduced their target price on shares of Conagra Brands from $22.00 to $19.00 in a research note on Friday, January 9th. Stifel Nicolaus cut their price target on Conagra Brands from $21.00 to $19.00 and set a “hold” rating on the stock in a report on Thursday, December 11th. Finally, Wells Fargo & Company boosted their price objective on Conagra Brands from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 17th. One equities research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, Conagra Brands has a consensus rating of “Reduce” and an average target price of $19.07.

Read Our Latest Stock Report on CAG

About Conagra Brands

(Free Report)

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.

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