Sumitomo Mitsui DS Asset Management Company Ltd Reduces Position in Conagra Brands $CAG

Sumitomo Mitsui DS Asset Management Company Ltd decreased its stake in shares of Conagra Brands (NYSE:CAG) by 77.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,368 shares of the company’s stock after selling 42,257 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Conagra Brands were worth $226,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank purchased a new position in Conagra Brands in the 2nd quarter worth $172,475,000. Ameriprise Financial Inc. increased its holdings in shares of Conagra Brands by 69.5% in 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. increased its holdings in shares of 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 period. Cullen Capital Management LLC raised its stake in shares of Conagra Brands by 4,497.6% in the second 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 last quarter. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of Conagra Brands during the second quarter worth about $35,413,000. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Conagra Brands

In related news, SVP Melissa C. Napier sold 13,011 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $17.19, for a total value of $223,659.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.57% of the company’s stock.

Conagra Brands Trading Up 3.3%

Shares of Conagra Brands stock opened at $17.12 on Thursday. The firm has a 50-day simple moving average of $17.29 and a two-hundred day simple moving average of $18.37. 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 fifty-two week low of $15.96 and a fifty-two week high of $28.51. The company has a market cap of $8.19 billion, a P/E ratio of -77.82 and a beta of -0.01.

Conagra Brands (NYSE:CAG) last announced its quarterly 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 analyst estimates of $3 billion. Conagra Brands had a positive return on equity of 10.59% and a negative net margin of 0.87%.Conagra Brands’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.70 EPS. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. As a group, equities 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 declared a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Tuesday, January 27th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, January 27th. This represents a $1.40 dividend on an annualized basis and a yield of 8.2%. Conagra Brands’s dividend payout ratio (DPR) is currently -636.36%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CAG shares. Cowen reissued a “hold” rating on shares of Conagra Brands in a research report on Monday, December 22nd. Weiss Ratings restated a “sell (d+)” rating on shares of Conagra Brands in a research report on Wednesday, October 8th. UBS Group lowered their price target on shares of Conagra Brands from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Tuesday, December 23rd. Jefferies Financial Group reduced their price objective on Conagra Brands from $19.00 to $18.00 and set a “hold” rating for the company in a research note on Thursday, December 11th. Finally, Zacks Research downgraded Conagra Brands from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 6th. One investment analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $19.00.

Conagra Brands Company 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.