98,659 Conagra Brands $CAG Shares Sold by SVB Wealth LLC

SVB Wealth LLC lowered its position in shares of Conagra Brands (NYSE:CAG) by 80.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,803 shares of the company’s stock after selling 98,659 shares during the quarter. SVB Wealth LLC’s holdings in Conagra Brands were worth $320,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CAG. BlackRock Inc. purchased a new position in shares of Conagra Brands during the 2nd quarter worth $1,071,275,000. Dimensional Fund Advisors LP boosted its holdings in shares of Conagra Brands by 9.7% during the first quarter. Dimensional Fund Advisors LP now owns 19,323,789 shares of the company’s stock worth $303,771,000 after purchasing an additional 1,701,624 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Conagra Brands during the second quarter worth $47,815,000. Wilsey Asset Management Inc. grew its position in shares of Conagra Brands by 5.5% in the second quarter. Wilsey Asset Management Inc. now owns 2,371,086 shares of the company’s stock valued at $31,915,000 after purchasing an additional 122,713 shares during the period. Finally, Freestone Grove Partners LP purchased a new stake in shares of Conagra Brands in the second quarter valued at $30,316,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Zacks Research upgraded Conagra Brands from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 1st. Royal Bank Of Canada reissued a “sector perform” rating and issued a $14.00 price target on shares of Conagra Brands in a research note on Thursday, October 1st. Evercore set a $13.00 price target on Conagra Brands in a report on Tuesday, September 29th. Deutsche Bank upped their price objective on shares of Conagra Brands from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Friday, September 18th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Conagra Brands in a research note on Tuesday, September 22nd. One research analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat, Conagra Brands has a consensus rating of “Reduce” and a consensus target price of $14.07.

Conagra Brands Trading Up 1.1%

Shares of NYSE CAG traded up $0.17 during trading on Friday, hitting $14.71. 8,172,614 shares of the company traded hands, compared to its average volume of 10,362,875. Conagra Brands has a 1 year low of $12.53 and a 1 year high of $20.32. The company has a 50-day moving average price of $14.45 and a 200-day moving average price of $15.20. The firm has a market capitalization of $7.03 billion, a P/E ratio of -3.70 and a beta of 0.02. The company has a quick ratio of 0.39, a current ratio of 1.10 and a debt-to-equity ratio of 1.08.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Wednesday, September 30th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.13. The business had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.59 billion. Conagra Brands had a positive return on equity of 11.46% and a negative net margin of 16.95%. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.39 EPS. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. On average, equities analysts predict that Conagra Brands will post 1.46 EPS for the current year.

Conagra Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Thursday, November 5th will be paid a dividend of $0.1750 per share. The ex-dividend date is Thursday, November 5th. This represents a $0.70 annualized dividend and a yield of 4.8%. Conagra Brands’s dividend payout ratio is currently -17.59%.

Conagra Brands Company Profile

Conagra Brands is a packaged-food company that develops, manufactures and markets products for retail, foodservice and other customers. Its offerings include frozen meals and vegetables, snacks, baking products, condiments, cooking ingredients and meat snacks. The company’s portfolio includes brands such as Birds Eye, Healthy Choice, Marie Callender’s, Duncan Hines, Slim Jim, Orville Redenbacher’s, Hunt’s, Banquet and Reddi-wip. Its products are sold primarily in the United States, as well as in international markets.