Conagra Brands $CAG Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lowered its stake in shares of Conagra Brands (NYSE:CAG) by 75.6% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 50,296 shares of the company’s stock after selling 156,079 shares during the period. Intech Investment Management LLC’s holdings in Conagra Brands were worth $921,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Conagra Brands by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 61,369,876 shares of the company’s stock valued at $1,256,241,000 after purchasing an additional 966,031 shares in the last quarter. State Street Corp increased its position in shares of Conagra Brands by 2.3% during 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 during the period. Geode Capital Management LLC raised its holdings in shares of 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 purchasing an additional 193,829 shares in the last quarter. Invesco Ltd. raised its holdings in Conagra Brands by 4.7% during the second quarter. Invesco Ltd. now owns 12,414,110 shares of the company’s stock worth $254,117,000 after purchasing an additional 554,125 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Conagra Brands by 69.5% in the second quarter. Ameriprise Financial Inc. now owns 10,145,798 shares of the company’s stock valued at $207,685,000 after buying an additional 4,160,542 shares during the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. UBS Group reissued a “neutral” rating and issued a $20.00 target price on shares of Conagra Brands in a report on Friday, February 13th. Wall Street Zen upgraded Conagra Brands from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Stifel Nicolaus reduced their target price on Conagra Brands from $21.00 to $19.00 and set a “hold” rating on the stock in a report on Thursday, December 11th. Evercore reduced their target price on shares of Conagra Brands from $22.00 to $19.00 in a research report on Friday, January 9th. Finally, Wells Fargo & Company boosted their target price on shares of Conagra Brands from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 17th. One analyst has rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $19.07.

Conagra Brands Stock Performance

Conagra Brands stock opened at $19.03 on Monday. Conagra Brands has a fifty-two week low of $15.96 and a fifty-two week high of $28.51. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.89 and a quick ratio of 0.28. The company has a market cap of $9.10 billion, a P/E ratio of -86.50 and a beta of -0.02. The firm’s 50 day simple moving average is $18.19 and its 200-day simple moving average is $18.15.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Friday, December 19th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The business 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%. Conagra Brands’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.70 earnings per share. 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 disclosed a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Tuesday, January 27th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.4%. The ex-dividend date was Tuesday, January 27th. Conagra Brands’s payout ratio is presently -636.36%.

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.