Truist Financial Corp Reduces Position in Conagra Brands $CAG

Truist Financial Corp lowered its stake in Conagra Brands (NYSE:CAG) by 7.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 88,200 shares of the company’s stock after selling 7,168 shares during the period. Truist Financial Corp’s holdings in Conagra Brands were worth $1,805,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CAG. Victory Capital Management Inc. lifted its position in Conagra Brands by 11.9% during the 1st quarter. Victory Capital Management Inc. now owns 842,094 shares of the company’s stock worth $22,459,000 after acquiring an additional 89,445 shares during the period. Impact Partnership Wealth LLC acquired a new stake in shares of Conagra Brands during the first quarter worth about $396,000. OneDigital Investment Advisors LLC boosted its position in Conagra Brands by 42.1% in the first quarter. OneDigital Investment Advisors LLC now owns 10,821 shares of the company’s stock valued at $289,000 after buying an additional 3,207 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Conagra Brands by 6.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 259,697 shares of the company’s stock valued at $6,926,000 after buying an additional 16,546 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Conagra Brands by 269.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 207,417 shares of the company’s stock worth $5,532,000 after buying an additional 151,209 shares during the period. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Stock Up 0.4%

Shares of CAG opened at $18.58 on Friday. 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 has a 12 month low of $17.89 and a 12 month high of $30.47. The stock’s 50 day moving average is $18.96 and its two-hundred day moving average is $21.32. The firm has a market cap of $8.89 billion, a P/E ratio of 10.55, a PEG ratio of 1.77 and a beta of 0.03.

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

Conagra Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Thursday, October 30th will be given a $0.35 dividend. The ex-dividend date is Thursday, October 30th. This represents a $1.40 annualized dividend and a dividend yield of 7.5%. Conagra Brands’s dividend payout ratio (DPR) is 79.55%.

Wall Street Analysts Forecast Growth

CAG has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on shares of Conagra Brands from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Thursday, October 2nd. UBS Group lowered their price target on shares of Conagra Brands from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, September 24th. Stifel Nicolaus reduced their price objective on Conagra Brands from $26.00 to $21.00 and set a “hold” rating for the company in a research note on Friday, July 11th. JPMorgan Chase & Co. began coverage on Conagra Brands in a research note on Wednesday, August 20th. They issued a “neutral” rating and a $20.00 target price on the stock. Finally, Evercore ISI dropped their target price on Conagra Brands from $24.00 to $23.00 and set an “in-line” rating on the stock in a report on Wednesday, September 24th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $21.92.

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.