DAVENPORT & Co LLC Trims Holdings in Conagra Brands $CAG

DAVENPORT & Co LLC lowered its position in Conagra Brands (NYSE:CAG) by 41.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,099 shares of the company’s stock after selling 30,368 shares during the period. DAVENPORT & Co LLC’s holdings in Conagra Brands were worth $771,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Conagra Brands in the 2nd quarter valued at $172,475,000. Ameriprise Financial Inc. lifted its position in Conagra Brands by 69.5% during the second quarter. Ameriprise Financial Inc. now owns 10,145,798 shares of the company’s stock valued at $207,685,000 after purchasing an additional 4,160,542 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in Conagra Brands by 315.4% in the second quarter. Robeco Institutional Asset Management B.V. now owns 4,120,156 shares of the company’s stock valued at $84,340,000 after purchasing an additional 3,128,203 shares during the last quarter. Cullen Capital Management LLC grew its position in Conagra Brands by 4,497.6% during the 2nd quarter. Cullen Capital Management LLC now owns 2,740,013 shares of the company’s stock worth $56,088,000 after purchasing an additional 2,680,417 shares during the period. Finally, Qube Research & Technologies Ltd purchased a new position in shares of Conagra Brands during the 2nd quarter valued at about $35,413,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CAG shares. Zacks Research upgraded Conagra Brands from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 2nd. Evercore ISI lowered their price objective on Conagra Brands from $23.00 to $22.00 and set an “in-line” rating on the stock in a research report on Monday, December 22nd. Wall Street Zen cut shares of Conagra Brands from a “hold” rating to a “sell” rating in a research note on Saturday. Sanford C. Bernstein decreased their target price on shares of Conagra Brands from $21.00 to $18.00 and set a “market perform” rating for the company in a research note on Monday, December 22nd. Finally, TD Cowen dropped their price target on shares of Conagra Brands from $19.00 to $18.00 and set a “hold” rating on the stock in a research report on Monday, December 22nd. One equities research analyst has rated the stock with a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $19.07.

Conagra Brands Price Performance

Shares of NYSE CAG opened at $17.46 on Tuesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.28 and a current ratio of 0.89. The firm has a fifty day moving average of $17.51 and a 200 day moving average of $18.72. The firm has a market cap of $8.35 billion, a PE ratio of -79.37 and a beta of -0.01. Conagra Brands has a one year low of $16.60 and a one year high of $28.51.

Conagra Brands (NYSE:CAG) last announced its earnings results on Friday, December 19th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. Conagra Brands had a negative net margin of 0.87% and a positive return on equity of 10.59%. The business had revenue of $2.98 billion for the quarter, compared to analyst estimates of $3 billion. During the same quarter last year, the business earned $0.70 earnings per share. The company’s revenue for the quarter was down 6.8% compared to the same quarter last year. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. As a group, research analysts predict 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 Thursday, February 26th. Stockholders of record on Tuesday, January 27th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 8.0%. The ex-dividend date is Tuesday, January 27th. Conagra Brands’s dividend payout ratio (DPR) is -636.36%.

Insider Activity

In related news, SVP Melissa C. Napier sold 13,011 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $17.19, for a total transaction of $223,659.09. The sale was disclosed in a legal 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 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.