AlphaQuest LLC Decreases Stake in Conagra Brands $CAG

AlphaQuest LLC lessened its holdings in shares of Conagra Brands (NYSE:CAG) by 95.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,442 shares of the company’s stock after selling 56,312 shares during the quarter. AlphaQuest LLC’s holdings in Conagra Brands were worth $45,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. DekaBank Deutsche Girozentrale boosted its position in Conagra Brands by 0.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 172,140 shares of the company’s stock worth $3,483,000 after acquiring an additional 585 shares during the last quarter. Sutton Place Investors LLC lifted its stake in Conagra Brands by 1.9% in the 3rd quarter. Sutton Place Investors LLC now owns 31,196 shares of the company’s stock worth $571,000 after purchasing an additional 585 shares in the last quarter. Horrell Capital Management Inc. boosted its holdings in shares of Conagra Brands by 2.2% during the 2nd quarter. Horrell Capital Management Inc. now owns 27,427 shares of the company’s stock worth $561,000 after purchasing an additional 597 shares during the last quarter. Excalibur Management Corp boosted its holdings in shares of Conagra Brands by 4.3% during the 2nd quarter. Excalibur Management Corp now owns 14,717 shares of the company’s stock worth $301,000 after purchasing an additional 600 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position in shares of Conagra Brands by 5.8% in the third quarter. Farther Finance Advisors LLC now owns 12,036 shares of the company’s stock valued at $220,000 after purchasing an additional 661 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Price Performance

Conagra Brands stock opened at $19.78 on Monday. The company’s 50 day simple moving average is $17.74 and its 200-day simple moving average is $18.16. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.28 and a current ratio of 0.89. Conagra Brands has a 1 year low of $15.96 and a 1 year high of $28.51. The company has a market capitalization of $9.46 billion, a price-to-earnings ratio of -89.89 and a beta of -0.01.

Conagra Brands (NYSE:CAG) last posted its earnings results on Friday, December 19th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.01. The firm had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $3 billion. Conagra Brands had a negative net margin of 0.87% and a positive return on equity of 10.59%. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.70 EPS. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. As a group, equities research analysts expect that Conagra Brands will post 2.35 earnings per share for the current year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Tuesday, January 27th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, January 27th. This represents a $1.40 annualized dividend and a yield of 7.1%. Conagra Brands’s dividend payout ratio is presently -636.36%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Stifel Nicolaus reduced their price objective on Conagra Brands from $21.00 to $19.00 and set a “hold” rating on the stock in a research report on Thursday, December 11th. Wells Fargo & Company reduced their price target on Conagra Brands from $19.00 to $18.00 and set an “equal weight” rating on the stock in a report on Monday, January 5th. TD Cowen reissued a “hold” rating on shares of Conagra Brands in a research report on Monday, December 22nd. Morgan Stanley cut their price objective on shares of Conagra Brands from $19.00 to $18.00 and set an “equal weight” rating for the company in a research report on Friday, January 16th. Finally, The Goldman Sachs Group reduced their target price on shares of Conagra Brands from $18.00 to $16.00 and set a “sell” rating on the stock in a research note on Monday, November 24th. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $18.86.

Conagra Brands 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.