Citigroup Inc. Sells 707,260 Shares of Conagra Brands $CAG

Citigroup Inc. decreased its holdings in shares of Conagra Brands (NYSE:CAG) by 55.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 578,394 shares of the company’s stock after selling 707,260 shares during the quarter. Citigroup Inc. owned approximately 0.12% of Conagra Brands worth $10,590,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. NewEdge Advisors LLC lifted its stake in shares of Conagra Brands by 4.2% during the 1st quarter. NewEdge Advisors LLC now owns 23,541 shares of the company’s stock worth $628,000 after buying an additional 954 shares during the last quarter. United Services Automobile Association bought a new position in Conagra Brands in the 1st quarter valued at about $225,000. Empowered Funds LLC lifted its position in Conagra Brands by 5.9% during the first quarter. Empowered Funds LLC now owns 36,356 shares of the company’s stock worth $970,000 after acquiring an additional 2,038 shares during the last quarter. Woodline Partners LP boosted its holdings in shares of Conagra Brands by 40.7% during the first quarter. Woodline Partners LP now owns 40,326 shares of the company’s stock worth $1,075,000 after acquiring an additional 11,664 shares during the period. Finally, Teacher Retirement System of Texas boosted its holdings in shares of Conagra Brands by 3.9% during the second quarter. Teacher Retirement System of Texas now owns 72,495 shares of the company’s stock worth $1,484,000 after acquiring an additional 2,714 shares during the period. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CAG has been the topic of a number of recent research reports. TD Cowen reiterated a “hold” rating on shares of Conagra Brands in a research note on Monday, December 22nd. The Goldman Sachs Group dropped their target price on Conagra Brands from $18.00 to $16.00 and set a “sell” rating for the company in a report on Monday, November 24th. Jefferies Financial Group decreased 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 note on Thursday, December 11th. JPMorgan Chase & Co. dropped their price objective on shares of Conagra Brands from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday, December 16th. Finally, Zacks Research raised shares of Conagra Brands from a “strong sell” rating to a “hold” rating in a report on Friday, February 20th. One analyst has rated the stock with a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Conagra Brands presently has a consensus rating of “Reduce” and an average target price of $19.07.

Conagra Brands Trading Up 2.7%

CAG opened at $19.25 on Friday. Conagra Brands has a twelve month low of $15.96 and a twelve month high of $28.51. The company has a 50-day simple moving average of $18.01 and a 200 day simple moving average of $18.17. The company has a quick ratio of 0.28, a current ratio of 0.89 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $9.21 billion, a price-to-earnings ratio of -87.48 and a beta of -0.01.

Conagra Brands (NYSE:CAG) last released its earnings results on Friday, December 19th. The company reported $0.45 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 firm had revenue of $2.98 billion for the quarter, compared to analyst estimates of $3 billion. During the same period last year, the firm earned $0.70 EPS. The business’s quarterly revenue 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. Analysts predict that Conagra Brands will post 2.35 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Tuesday, January 27th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date of this dividend was Tuesday, January 27th. Conagra Brands’s dividend payout ratio (DPR) is currently -636.36%.

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.