Synovus Financial Corp Decreases Holdings in Conagra Brands $CAG

Synovus Financial Corp decreased its holdings in Conagra Brands (NYSE:CAG) by 93.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,320 shares of the company’s stock after selling 160,881 shares during the period. Synovus Financial Corp’s holdings in Conagra Brands were worth $207,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Campbell & CO Investment Adviser LLC bought a new stake in Conagra Brands in the second quarter worth $2,489,000. Wealth Enhancement Advisory Services LLC increased its position in Conagra Brands by 45.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 342,942 shares of the company’s stock valued at $6,485,000 after acquiring an additional 106,891 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Conagra Brands in the second quarter valued at $10,465,000. Hsbc Holdings PLC lifted its holdings in shares of Conagra Brands by 20.0% in the 2nd quarter. Hsbc Holdings PLC now owns 1,251,371 shares of the company’s stock worth $25,578,000 after acquiring an additional 208,450 shares during the last quarter. Finally, AE Wealth Management LLC boosted its stake in shares of Conagra Brands by 13.7% during the 3rd quarter. AE Wealth Management LLC now owns 720,093 shares of the company’s stock worth $13,185,000 after purchasing an additional 86,604 shares during the period. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Wall Street Analysts Forecast Growth

CAG has been the topic of a number of recent analyst reports. UBS Group reissued a “neutral” rating and issued a $20.00 price objective on shares of Conagra Brands in a research report on Friday, February 13th. TD Cowen reaffirmed a “hold” rating on shares of Conagra Brands in a research note on Monday, December 22nd. Stifel Nicolaus decreased their price target on Conagra Brands from $21.00 to $19.00 and set a “hold” rating for the company in a research note on Thursday, December 11th. Bank of America dropped their price objective on Conagra Brands from $18.00 to $17.00 and set an “underperform” rating for the company in a report on Monday, December 22nd. Finally, The Goldman Sachs Group reduced their target price on 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, twelve have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Conagra Brands presently has an average rating of “Reduce” and an average target price of $19.07.

Conagra Brands Trading Up 2.2%

Shares of NYSE CAG opened at $18.87 on Tuesday. Conagra Brands has a twelve month low of $15.96 and a twelve month high of $28.51. The firm has a market cap of $9.03 billion, a PE ratio of -85.77 and a beta of -0.01. The business has a fifty day simple moving average of $17.91 and a two-hundred 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.

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

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Tuesday, January 27th will be issued a $0.35 dividend. The ex-dividend date is Tuesday, January 27th. This represents a $1.40 annualized dividend and a dividend yield of 7.4%. Conagra Brands’s payout ratio is currently -636.36%.

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.