Conagra Brands $CAG Stock Holdings Cut by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. cut its position in shares of Conagra Brands (NYSE:CAG) by 76.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 51,675 shares of the company’s stock after selling 166,596 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Conagra Brands were worth $945,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of CAG. Vanguard Group Inc. boosted its stake in Conagra Brands by 1.6% during the second quarter. Vanguard Group Inc. now owns 61,369,876 shares of the company’s stock valued at $1,256,241,000 after buying an additional 966,031 shares in the last quarter. State Street Corp raised its position 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 in the last quarter. Geode Capital Management LLC lifted its holdings in Conagra Brands by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 12,870,239 shares of the company’s stock valued at $262,405,000 after acquiring an additional 193,829 shares during the last quarter. Invesco Ltd. boosted 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 valued at $254,117,000 after purchasing an additional 554,125 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake 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. Institutional investors and hedge funds own 83.75% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. UBS Group dropped their target price on shares of Conagra Brands from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Tuesday, December 23rd. Zacks Research cut Conagra Brands from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft cut their price objective on Conagra Brands from $19.00 to $18.00 and set a “hold” rating for the company in a research report on Monday, December 22nd. Weiss Ratings reissued a “sell (d+)” rating on shares of Conagra Brands in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group cut their target price on Conagra Brands from $19.00 to $18.00 and set a “hold” rating on the stock in a research report on Thursday, December 11th. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, Conagra Brands presently has an average rating of “Reduce” and a consensus price target of $18.71.

Conagra Brands Stock Down 1.5%

Shares of NYSE:CAG opened at $17.68 on Thursday. The firm has a 50 day simple moving average of $17.33 and a 200 day simple moving average of $18.16. Conagra Brands has a 52 week low of $15.96 and a 52 week high of $28.51. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.28 and a current ratio of 0.89. The company has a market cap of $8.46 billion, a PE ratio of -80.34 and a beta of -0.01.

Conagra Brands (NYSE:CAG) last announced its earnings results on Friday, December 19th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. Conagra Brands had a negative net margin of 0.87% and a positive return on equity of 10.59%. The company had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $3 billion. During the same period in the previous year, the business earned $0.70 EPS. The company’s revenue was down 6.8% on a year-over-year basis. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. As a group, research analysts expect that Conagra Brands will post 2.35 earnings per share for the current year.

Conagra Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Tuesday, January 27th will be issued a $0.35 dividend. The ex-dividend date is Tuesday, January 27th. This represents a $1.40 dividend on an annualized basis and a yield of 7.9%. Conagra Brands’s dividend payout ratio is currently -636.36%.

Insiders Place Their Bets

In related news, SVP Melissa C. Napier sold 13,011 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $17.19, for a total transaction of $223,659.09. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.57% of the company’s stock.

Conagra Brands Company 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.