Thrivent Financial for Lutherans Has $1.63 Million Stock Position in Conagra Brands $CAG

Thrivent Financial for Lutherans reduced its holdings in shares of Conagra Brands (NYSE:CAG) by 71.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 88,988 shares of the company’s stock after selling 223,956 shares during the period. Thrivent Financial for Lutherans’ holdings in Conagra Brands were worth $1,629,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAG. Quaker Wealth Management LLC grew its position in Conagra Brands by 202.3% in the second quarter. Quaker Wealth Management LLC now owns 1,227 shares of the company’s stock valued at $25,000 after purchasing an additional 2,427 shares in the last quarter. CYBER HORNET ETFs LLC acquired a new stake in shares of Conagra Brands in the second quarter valued at about $26,000. True Wealth Design LLC raised its holdings in Conagra Brands by 844.4% during the third quarter. True Wealth Design LLC now owns 1,596 shares of the company’s stock worth $29,000 after acquiring an additional 1,427 shares in the last quarter. MUFG Securities EMEA plc acquired a new position in Conagra Brands during the second quarter valued at approximately $29,000. Finally, Spire Wealth Management grew its stake in Conagra Brands by 249.0% in the third quarter. Spire Wealth Management now owns 1,724 shares of the company’s stock valued at $32,000 after purchasing an additional 1,230 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Trading Down 0.3%

Shares of Conagra Brands stock opened at $19.96 on Friday. The business has a fifty day simple moving average of $17.69 and a two-hundred day simple moving average of $18.17. Conagra Brands has a 1 year low of $15.96 and a 1 year high of $28.51. The company has a market capitalization of $9.55 billion, a price-to-earnings ratio of -90.70 and a beta of -0.01. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.89 and a quick ratio of 0.28.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Friday, December 19th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.44 by $0.01. The firm had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $3 billion. Conagra Brands had a negative net margin of 0.87% and a positive return on equity of 10.59%. The company’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period 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. Research analysts forecast that Conagra Brands will post 2.35 EPS for the current year.

Conagra Brands Announces Dividend

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 given a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, January 27th. This represents a $1.40 annualized dividend and a dividend yield of 7.0%. Conagra Brands’s dividend payout ratio is presently -636.36%.

Wall Street Analysts Forecast Growth

CAG has been the topic of a number of analyst reports. Zacks Research cut Conagra Brands from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 6th. Wells Fargo & Company lowered their target price on shares of Conagra Brands from $19.00 to $18.00 and set an “equal weight” rating on the stock in a report on Monday, January 5th. TD Cowen reaffirmed a “hold” rating on shares of Conagra Brands in a research report on Monday, December 22nd. UBS Group cut their price target on shares of Conagra Brands from $19.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, December 23rd. Finally, Bank of America lowered their price objective on shares of Conagra Brands from $18.00 to $17.00 and set an “underperform” rating on the stock in a research note on Monday, December 22nd. One research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $18.71.

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.