KLP Kapitalforvaltning AS Cuts Stock Position in Conagra Brands $CAG

KLP Kapitalforvaltning AS cut its holdings in shares of Conagra Brands (NYSE:CAG) by 38.1% during the third quarter, Holdings Channel.com reports. The fund owned 124,300 shares of the company’s stock after selling 76,614 shares during the period. KLP Kapitalforvaltning AS’s holdings in Conagra Brands were worth $2,276,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Conagra Brands by 1.6% during the second quarter. Vanguard Group Inc. now owns 61,369,876 shares of the company’s stock worth $1,256,241,000 after purchasing an additional 966,031 shares in the last quarter. State Street Corp boosted its stake in Conagra Brands by 2.3% in the 2nd quarter. State Street Corp now owns 26,202,392 shares of the company’s stock worth $536,363,000 after purchasing an additional 588,435 shares during the period. Geode Capital Management LLC grew its holdings in Conagra Brands by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 12,870,239 shares of the company’s stock valued at $262,405,000 after buying an additional 193,829 shares in the last quarter. Invesco Ltd. raised its position in shares of Conagra Brands by 4.7% during the second quarter. Invesco Ltd. now owns 12,414,110 shares of the company’s stock valued at $254,117,000 after buying an additional 554,125 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted 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 worth $207,685,000 after buying an additional 4,160,542 shares in the last quarter. Institutional investors own 83.75% of the company’s stock.

Insider Activity

In related news, SVP Melissa C. Napier sold 13,011 shares of Conagra Brands stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $17.19, for a total transaction of $223,659.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on CAG. Bank of America cut their target price on shares of Conagra Brands from $18.00 to $17.00 and set an “underperform” rating for the company in a research note on Monday, December 22nd. Morgan Stanley reduced their target price on Conagra Brands from $21.00 to $19.00 and set an “equal weight” rating on the stock in a report on Monday, December 22nd. Wall Street Zen lowered Conagra Brands from a “hold” rating to a “sell” rating in a research note on Saturday, December 27th. JPMorgan Chase & Co. cut their price target on Conagra Brands from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Tuesday, December 16th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Conagra Brands in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, Conagra Brands has an average rating of “Reduce” and a consensus target price of $19.00.

Conagra Brands Trading Up 2.2%

Shares of NYSE CAG opened at $16.95 on Friday. Conagra Brands has a 1-year low of $15.96 and a 1-year high of $28.51. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.89 and a quick ratio of 0.28. The business’s 50 day moving average is $17.31 and its two-hundred day moving average is $18.45. The stock has a market capitalization of $8.11 billion, a P/E ratio of -77.02 and a beta of -0.01.

Conagra Brands (NYSE:CAG) last announced its earnings results on Friday, December 19th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The firm had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $3 billion. Conagra Brands had a positive return on equity of 10.59% and a negative net margin of 0.87%.The company’s quarterly revenue was down 6.8% on a year-over-year basis. 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, research analysts expect that Conagra Brands will post 2.35 EPS for the current year.

Conagra Brands Announces Dividend

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 paid a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, January 27th. This represents a $1.40 annualized dividend and a dividend yield of 8.3%. Conagra Brands’s dividend 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.