State of Michigan Retirement System Has $2.37 Million Position in Conagra Brands $CAG

State of Michigan Retirement System lessened its holdings in shares of Conagra Brands (NYSE:CAG) by 19.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 129,515 shares of the company’s stock after selling 30,686 shares during the quarter. State of Michigan Retirement System’s holdings in Conagra Brands were worth $2,371,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Prime Capital Investment Advisors LLC bought a new position in Conagra Brands in the 3rd quarter worth approximately $211,000. Bessemer Group Inc. grew its stake in shares of Conagra Brands by 69.7% in the third quarter. Bessemer Group Inc. now owns 28,283 shares of the company’s stock worth $517,000 after acquiring an additional 11,617 shares during the last quarter. SBI Securities Co. Ltd. grew its stake in shares of Conagra Brands by 71.2% in the third quarter. SBI Securities Co. Ltd. now owns 2,779 shares of the company’s stock worth $51,000 after acquiring an additional 1,156 shares during the last quarter. Savant Capital LLC increased its position in Conagra Brands by 273.4% during the third quarter. Savant Capital LLC now owns 102,422 shares of the company’s stock worth $1,875,000 after acquiring an additional 74,991 shares during the period. Finally, Hantz Financial Services Inc. raised its stake in Conagra Brands by 579.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 6,253 shares of the company’s stock valued at $114,000 after purchasing an additional 5,333 shares during the last quarter. Institutional investors own 83.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CAG. Wells Fargo & Company decreased their price target on shares of Conagra Brands from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Monday, January 5th. Sanford C. Bernstein decreased 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. Evercore cut their price target on Conagra Brands from $22.00 to $19.00 in a report on Friday, January 9th. Wall Street Zen downgraded Conagra Brands from a “hold” rating to a “sell” rating in a research report on Saturday, December 27th. Finally, JPMorgan Chase & Co. lowered their price objective on Conagra Brands from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 16th. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $18.71.

Conagra Brands Stock Up 3.6%

NYSE CAG opened at $20.03 on Thursday. 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 stock’s 50 day moving average is $17.63 and its two-hundred day moving average is $18.16. The company has a market capitalization of $9.58 billion, a price-to-earnings ratio of -91.06 and a beta of -0.01. Conagra Brands has a 1-year low of $15.96 and a 1-year high of $28.51.

Conagra Brands (NYSE:CAG) last issued its earnings results on Friday, December 19th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The business had revenue of $2.98 billion during 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%.Conagra Brands’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.70 EPS. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. Equities analysts forecast that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Tuesday, January 27th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 7.0%. The ex-dividend date is Tuesday, January 27th. Conagra Brands’s payout ratio is currently -636.36%.

Conagra Brands 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.