Conagra Brands $CAG Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its position in Conagra Brands (NYSE:CAG) by 2.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 77,559 shares of the company’s stock after selling 2,355 shares during the period. State of Alaska Department of Revenue’s holdings in Conagra Brands were worth $1,587,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CAG. Ameriprise Financial Inc. increased its holdings in shares of Conagra Brands by 233.7% in the 1st quarter. Ameriprise Financial Inc. now owns 5,985,256 shares of the company’s stock worth $159,625,000 after acquiring an additional 4,191,555 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Conagra Brands by 49.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,162,251 shares of the company’s stock worth $217,686,000 after acquiring an additional 2,702,407 shares during the period. KBC Group NV increased its holdings in shares of Conagra Brands by 560.1% in the 1st quarter. KBC Group NV now owns 2,042,766 shares of the company’s stock worth $54,480,000 after acquiring an additional 1,733,297 shares during the period. Vanguard Group Inc. increased its holdings in shares of Conagra Brands by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 60,403,845 shares of the company’s stock worth $1,610,971,000 after acquiring an additional 1,604,893 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Conagra Brands by 5,102.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,216,421 shares of the company’s stock worth $32,442,000 after acquiring an additional 1,193,041 shares during the period. Institutional investors and hedge funds own 83.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CAG shares. Evercore ISI dropped their price objective on shares of Conagra Brands from $24.00 to $23.00 and set an “in-line” rating on the stock in a report on Wednesday, September 24th. Wells Fargo & Company raised their target price on shares of Conagra Brands from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Thursday. Weiss Ratings reissued a “sell (d+)” rating on shares of Conagra Brands in a research note on Saturday, September 27th. Stifel Nicolaus lowered their target price on shares of Conagra Brands from $26.00 to $21.00 and set a “hold” rating on the stock in a research note on Friday, July 11th. Finally, Bank of America cut shares of Conagra Brands from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $27.00 to $20.00 in a research note on Thursday, June 12th. One equities research analyst has rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Conagra Brands has an average rating of “Reduce” and a consensus target price of $21.92.

Conagra Brands Stock Performance

Shares of CAG opened at $19.12 on Friday. Conagra Brands has a 12-month low of $17.89 and a 12-month high of $30.47. The firm’s 50 day moving average is $18.97 and its 200-day moving average is $21.60. The stock has a market capitalization of $9.14 billion, a P/E ratio of 10.86, a P/E/G ratio of 1.84 and a beta of 0.03. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.06 and a quick ratio of 0.24.

Conagra Brands (NYSE:CAG) last announced its earnings results on Wednesday, October 1st. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.33 by $0.06. Conagra Brands had a net margin of 7.42% and a return on equity of 11.72%. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same period last year, the company posted $0.53 earnings per share. The business’s revenue for the quarter was down 5.8% on a year-over-year basis. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. Equities research analysts anticipate that Conagra Brands will post 2.35 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Thursday, October 30th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 7.3%. The ex-dividend date is Thursday, October 30th. Conagra Brands’s dividend payout ratio (DPR) is presently 79.55%.

Conagra Brands Profile

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.