Conagra Brands $CAG Shares Sold by Panagora Asset Management Inc.

Panagora Asset Management Inc. reduced its position in shares of Conagra Brands (NYSE:CAG) by 43.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,651 shares of the company’s stock after selling 46,431 shares during the period. Panagora Asset Management Inc.’s holdings in Conagra Brands were worth $1,221,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CAG. Quaker Wealth Management LLC increased its stake in Conagra Brands by 202.3% during the 2nd quarter. Quaker Wealth Management LLC now owns 1,227 shares of the company’s stock worth $25,000 after buying an additional 2,427 shares during the period. Clearstead Trust LLC boosted its position in Conagra Brands by 522.1% in the 2nd quarter. Clearstead Trust LLC now owns 1,636 shares of the company’s stock valued at $33,000 after buying an additional 1,373 shares during the last quarter. AlphaCore Capital LLC acquired a new stake in shares of Conagra Brands during the second quarter valued at about $37,000. ST Germain D J Co. Inc. increased its position in shares of Conagra Brands by 130.8% during the second quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company’s stock worth $41,000 after acquiring an additional 1,129 shares during the last quarter. Finally, Trust Co. of Toledo NA OH acquired a new position in shares of Conagra Brands in the second quarter worth about $41,000. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Stock Performance

CAG stock opened at $16.96 on Friday. The stock’s 50 day simple moving average is $17.91 and its 200 day simple moving average is $19.38. Conagra Brands has a 12-month low of $16.60 and a 12-month high of $28.69. The firm has a market cap of $8.11 billion, a P/E ratio of 9.63 and a beta of -0.01. The company has a current ratio of 1.06, a quick ratio of 0.44 and a debt-to-equity ratio of 0.81.

Conagra Brands (NYSE:CAG) last released its earnings results on Wednesday, October 1st. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.06. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.62 billion. Conagra Brands had a net margin of 7.42% and a return on equity of 11.72%. The firm’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Thursday, October 30th were paid a dividend of $0.35 per share. The ex-dividend date was Thursday, October 30th. This represents a $1.40 annualized dividend and a yield of 8.3%. Conagra Brands’s dividend payout ratio is 79.55%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. The Goldman Sachs Group reduced their price target on Conagra Brands from $18.00 to $16.00 and set a “sell” rating for the company in a report on Monday, November 24th. Morgan Stanley increased their target price on Conagra Brands from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 24th. Weiss Ratings restated a “sell (d+)” rating on shares of Conagra Brands in a research note on Wednesday, October 8th. JPMorgan Chase & Co. started coverage on shares of Conagra Brands in a report on Wednesday, August 20th. They issued a “neutral” rating and a $20.00 price target on the stock. Finally, Zacks Research raised shares of Conagra Brands from a “strong sell” rating to a “hold” rating in a report on Thursday, October 2nd. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $21.50.

Insider Transactions at Conagra Brands

In other Conagra Brands news, SVP Melissa C. Napier sold 13,011 shares of Conagra Brands stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $17.19, for a total value of $223,659.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.57% of the stock is owned by corporate insiders.

About Conagra Brands

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.