TD Asset Management Inc Cuts Holdings in Conagra Brands $CAG

TD Asset Management Inc trimmed its position in Conagra Brands (NYSE:CAG) by 55.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 114,191 shares of the company’s stock after selling 144,696 shares during the quarter. TD Asset Management Inc’s holdings in Conagra Brands were worth $2,091,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Conagra Brands in the second quarter worth $172,475,000. Ameriprise Financial Inc. increased its holdings in Conagra Brands by 69.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 10,145,798 shares of the company’s stock valued at $207,685,000 after purchasing an additional 4,160,542 shares in the last quarter. Cullen Capital Management LLC raised its position in Conagra Brands by 4,497.6% in the second quarter. Cullen Capital Management LLC now owns 2,740,013 shares of the company’s stock valued at $56,088,000 after purchasing an additional 2,680,417 shares during the period. Qube Research & Technologies Ltd acquired a new position in shares of Conagra Brands during the second quarter worth about $35,413,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Conagra Brands by 156.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,238,558 shares of the company’s stock worth $45,823,000 after buying an additional 1,366,059 shares during the period. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CAG shares. Jefferies Financial Group reduced their price target 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. Royal Bank Of Canada reduced their target price on shares of Conagra Brands from $22.00 to $20.00 and set a “sector perform” rating on the stock in a research report on Monday, December 22nd. TD Cowen reaffirmed a “hold” rating on shares of Conagra Brands in a report on Monday, December 22nd. Bank of America cut their price objective on shares of Conagra Brands from $18.00 to $17.00 and set an “underperform” rating on the stock in a report on Monday, December 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Conagra Brands from $19.00 to $18.00 and set a “hold” rating for the company in a research note on Monday, December 22nd. One equities research analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Conagra Brands has a consensus rating of “Reduce” and a consensus target price of $19.07.

Conagra Brands Stock Performance

CAG stock opened at $18.85 on Thursday. The stock’s 50 day simple moving average is $18.13 and its 200 day simple moving average is $18.16. The company has a current ratio of 0.89, a quick ratio of 0.28 and a debt-to-equity ratio of 0.80. Conagra Brands has a 12-month low of $15.96 and a 12-month high of $28.51. The firm has a market cap of $9.01 billion, a P/E ratio of -85.66 and a beta of -0.02.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Friday, December 19th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The firm had revenue of $2.98 billion during the quarter, compared to the consensus estimate 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 revenue was down 6.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.70 EPS. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. As a group, equities research analysts predict that Conagra Brands will post 2.35 EPS for the current year.

Conagra Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Tuesday, January 27th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 7.4%. The ex-dividend date of this dividend was Tuesday, January 27th. Conagra Brands’s dividend payout ratio (DPR) is presently -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.