PNC Financial Services Group Inc. Increases Position in Conagra Brands $CAG

PNC Financial Services Group Inc. increased its holdings in Conagra Brands (NYSE:CAG) by 63.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 245,174 shares of the company’s stock after acquiring an additional 95,269 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.05% of Conagra Brands worth $4,489,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the business. Quaker Wealth Management LLC boosted its stake in shares of Conagra Brands by 202.3% during the 2nd quarter. Quaker Wealth Management LLC now owns 1,227 shares of the company’s stock valued at $25,000 after buying an additional 2,427 shares during the last quarter. CYBER HORNET ETFs LLC acquired a new stake in Conagra Brands in the second quarter valued at $26,000. True Wealth Design LLC boosted its stake in Conagra Brands by 844.4% during the 3rd quarter. True Wealth Design LLC now owns 1,596 shares of the company’s stock valued at $29,000 after acquiring an additional 1,427 shares during the last quarter. MUFG Securities EMEA plc bought a new position in Conagra Brands during the 2nd quarter valued at $29,000. Finally, Spire Wealth Management grew its holdings in Conagra Brands by 249.0% during the 3rd quarter. Spire Wealth Management now owns 1,724 shares of the company’s stock worth $32,000 after acquiring an additional 1,230 shares in the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Stock Performance

Shares of NYSE CAG opened at $18.45 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.89 and a debt-to-equity ratio of 0.80. The firm’s 50-day moving average price is $17.89 and its two-hundred day moving average price is $18.18. Conagra Brands has a 52-week low of $15.96 and a 52-week high of $28.51. The stock has a market capitalization of $8.82 billion, a P/E ratio of -83.85 and a beta of -0.01.

Conagra Brands (NYSE:CAG) last posted its earnings results on Friday, December 19th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.44 by $0.01. The company had revenue of $2.98 billion during the quarter, compared to analyst estimates of $3 billion. Conagra Brands had a positive return on equity of 10.59% and a negative net margin of 0.87%.The business’s revenue was down 6.8% compared to the same quarter last year. During the same period in the prior 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, sell-side analysts forecast that Conagra Brands will post 2.35 earnings per share for the current year.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Tuesday, January 27th will be issued 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 dividend yield of 7.6%. Conagra Brands’s payout ratio is -636.36%.

Analyst Upgrades and Downgrades

CAG has been the topic of a number of recent analyst reports. The Goldman Sachs Group cut their target price on shares of Conagra Brands from $18.00 to $16.00 and set a “sell” rating on the stock in a research note on Monday, November 24th. Morgan Stanley reissued an “overweight” rating on shares of Conagra Brands in a report on Wednesday. Royal Bank Of Canada cut their price objective on Conagra Brands from $22.00 to $20.00 and set a “sector perform” rating on the stock in a research note on Monday, December 22nd. JPMorgan Chase & Co. decreased their target price on Conagra Brands from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Tuesday, December 16th. Finally, Wells Fargo & Company boosted their price target on Conagra Brands from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Tuesday. One research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $19.07.

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.