Allianz Asset Management GmbH Sells 20,639 Shares of Conagra Brands $CAG

Allianz Asset Management GmbH cut its stake in Conagra Brands (NYSE:CAG) by 40.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,554 shares of the company’s stock after selling 20,639 shares during the period. Allianz Asset Management GmbH’s holdings in Conagra Brands were worth $625,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. MJT & Associates Financial Advisory Group Inc. purchased a new stake in Conagra Brands in the first quarter worth about $27,000. Golden State Wealth Management LLC lifted its holdings in Conagra Brands by 235.2% in the first quarter. Golden State Wealth Management LLC now owns 1,056 shares of the company’s stock worth $28,000 after buying an additional 741 shares during the period. Wayfinding Financial LLC purchased a new stake in Conagra Brands in the first quarter worth about $34,000. ST Germain D J Co. Inc. lifted its holdings in Conagra Brands by 130.8% in the second quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company’s stock worth $41,000 after buying an additional 1,129 shares during the period. Finally, Trust Co. of Toledo NA OH purchased a new stake in 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.

Analysts Set New Price Targets

Several research firms have recently issued reports on CAG. Weiss Ratings reiterated a “sell (d+)” rating on shares of Conagra Brands in a report on Wednesday, October 8th. JPMorgan Chase & Co. began coverage on shares of Conagra Brands in a report on Wednesday, August 20th. They set a “neutral” rating and a $20.00 target price for the company. Wells Fargo & Company lifted their target price 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. Evercore ISI lowered their target price on shares of Conagra Brands from $24.00 to $23.00 and set an “in-line” rating for the company in a report on Wednesday, September 24th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $22.00 target price on shares of Conagra Brands 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 company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $21.92.

Conagra Brands Price Performance

Shares of NYSE CAG opened at $18.49 on Tuesday. Conagra Brands has a twelve month low of $17.89 and a twelve month high of $29.91. The firm has a market cap of $8.84 billion, a P/E ratio of 10.50, a PEG ratio of 1.73 and a beta of 0.03. The company has a 50 day moving average of $18.81 and a 200 day moving average of $20.70. The company has a quick ratio of 0.44, a current ratio of 1.06 and a debt-to-equity ratio of 0.81.

Conagra Brands (NYSE:CAG) last posted its earnings results on Wednesday, October 1st. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.06. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate 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 was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.53 EPS. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. As a group, research analysts expect that Conagra Brands will post 2.35 EPS 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. Shareholders of record on Thursday, October 30th will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, October 30th. This represents a $1.40 dividend on an annualized basis and a yield of 7.6%. Conagra Brands’s payout ratio is currently 79.55%.

Conagra Brands Company 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.