Hsbc Holdings PLC Sells 826,502 Shares of Conagra Brands $CAG

Hsbc Holdings PLC trimmed its holdings in shares of Conagra Brands (NYSE:CAG) by 79.7% in the second quarter, HoldingsChannel reports. The firm owned 209,865 shares of the company’s stock after selling 826,502 shares during the period. Hsbc Holdings PLC’s holdings in Conagra Brands were worth $2,825,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Canada Pension Plan Investment Board boosted its stake in Conagra Brands by 115.7% in the second quarter. Canada Pension Plan Investment Board now owns 66,000 shares of the company’s stock worth $888,000 after purchasing an additional 35,400 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Conagra Brands by 21.2% in the second quarter. Legal & General Group Plc now owns 1,225,900 shares of the company’s stock valued at $16,501,000 after buying an additional 214,180 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Conagra Brands by 22.8% during the 2nd quarter. Jones Financial Companies Lllp now owns 327,686 shares of the company’s stock worth $4,614,000 after buying an additional 60,887 shares in the last quarter. Algert Global LLC bought a new stake in Conagra Brands during the 2nd quarter worth about $665,000. Finally, Sanctuary Advisors LLC increased its position in Conagra Brands by 236.7% in the 2nd quarter. Sanctuary Advisors LLC now owns 93,857 shares of the company’s stock valued at $1,263,000 after acquiring an additional 65,982 shares in the last quarter. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Up 0.4%

Shares of Conagra Brands stock opened at $16.08 on Friday. The business has a fifty day simple moving average of $14.79 and a 200 day simple moving average of $15.24. The stock has a market cap of $7.70 billion, a PE ratio of -4.02 and a beta of -0.03. The company has a quick ratio of 0.31, a current ratio of 0.90 and a debt-to-equity ratio of 1.02. Conagra Brands has a 12 month low of $12.53 and a 12 month high of $20.32.

Conagra Brands (NYSE:CAG) last released its earnings results on Wednesday, July 15th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.01. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.89 billion. Conagra Brands had a positive return on equity of 10.44% and a negative net margin of 16.99%.The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.56 earnings per share. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. Research analysts predict that Conagra Brands will post 1.45 EPS for the current year.

Conagra Brands Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Thursday, July 30th will be paid a dividend of $0.175 per share. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $0.70 annualized dividend and a yield of 4.4%. Conagra Brands’s dividend payout ratio (DPR) is presently -17.50%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CAG shares. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Conagra Brands from $14.00 to $12.00 and set a “hold” rating on the stock in a research note on Thursday, June 18th. UBS Group increased their price objective on Conagra Brands from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Barclays lifted their target price on Conagra Brands from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Royal Bank Of Canada decreased their price target on Conagra Brands from $16.00 to $14.00 and set a “sector perform” rating on the stock in a report on Thursday, July 16th. Finally, Sanford C. Bernstein reiterated an “underperform” rating and issued a $12.00 price target (down from $16.00) on shares of Conagra Brands in a report on Wednesday, June 3rd. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $14.07.

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.