Fifth Third Bancorp Increases Stake in Conagra Brands $CAG

Fifth Third Bancorp grew its stake in shares of Conagra Brands (NYSE:CAG) by 142.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 53,494 shares of the company’s stock after purchasing an additional 31,441 shares during the quarter. Fifth Third Bancorp’s holdings in Conagra Brands were worth $979,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of brokerages recently issued reports on CAG. 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 report on Thursday, December 11th. Royal Bank Of Canada reduced their target price on Conagra Brands from $22.00 to $20.00 and set a “sector perform” rating on the stock in a research note on Monday, December 22nd. UBS Group restated a “neutral” rating and set a $20.00 target price on shares of Conagra Brands in a report on Friday, February 13th. Wells Fargo & Company lifted their price target on shares of Conagra Brands from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of 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 research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $19.07.

Conagra Brands Trading Down 1.3%

NYSE CAG opened at $18.45 on Friday. The firm has a market capitalization of $8.82 billion, a PE ratio of -83.85 and a beta of -0.01. The stock’s 50 day moving average is $17.89 and its 200 day moving average is $18.18. Conagra Brands has a twelve month low of $15.96 and a twelve month high of $28.51. The company has a quick ratio of 0.28, a current ratio of 0.89 and a debt-to-equity ratio of 0.80.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data 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. Conagra Brands had a positive return on equity of 10.59% and a negative net margin of 0.87%.The business had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $3 billion. During the same quarter in the prior year, the company earned $0.70 earnings per share. The firm’s quarterly revenue was down 6.8% compared to the same quarter last year. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. Research analysts forecast that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Tuesday, January 27th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 7.6%. The ex-dividend date of this dividend is Tuesday, January 27th. Conagra Brands’s dividend payout ratio (DPR) is -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.