KBC Group NV Sells 92,806 Shares of Conagra Brands $CAG

KBC Group NV cut its holdings in Conagra Brands (NYSE:CAG) by 76.8% during the first quarter, Holdings Channel reports. The institutional investor owned 28,061 shares of the company’s stock after selling 92,806 shares during the quarter. KBC Group NV’s holdings in Conagra Brands were worth $441,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Swiss National Bank increased its stake in shares of Conagra Brands by 0.4% during the first quarter. Swiss National Bank now owns 946,700 shares of the company’s stock valued at $14,882,000 after purchasing an additional 3,600 shares in the last quarter. AIA Group Ltd boosted its position in shares of Conagra Brands by 319.5% in the 1st quarter. AIA Group Ltd now owns 411,099 shares of the company’s stock worth $6,462,000 after purchasing an additional 313,106 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted its position in shares of Conagra Brands by 156,066.7% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 4,685 shares of the company’s stock worth $74,000 after purchasing an additional 4,682 shares in the last quarter. Kera Capital Partners Inc. boosted its position in shares of Conagra Brands by 28.9% in the 1st quarter. Kera Capital Partners Inc. now owns 18,516 shares of the company’s stock worth $291,000 after purchasing an additional 4,146 shares in the last quarter. Finally, Bessemer Group Inc. grew its stake in shares of Conagra Brands by 60.9% in the 1st quarter. Bessemer Group Inc. now owns 36,624 shares of the company’s stock worth $576,000 after buying an additional 13,866 shares during the last quarter. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Price Performance

Shares of NYSE CAG opened at $14.76 on Friday. The firm has a market cap of $7.07 billion, a P/E ratio of -3.69 and a beta of -0.02. Conagra Brands has a twelve month low of $12.53 and a twelve month high of $20.32. The company has a quick ratio of 0.31, a current ratio of 0.90 and a debt-to-equity ratio of 1.02. The company has a 50 day moving average of $13.69 and a 200 day moving average of $15.61.

Conagra Brands (NYSE:CAG) last issued its earnings results on Wednesday, July 15th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.46 by $0.01. The business had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.89 billion. Conagra Brands had a positive return on equity of 10.44% and a negative net margin of 16.99%.The company’s revenue was up 3.6% compared to the same quarter last year. During the same period last year, the business posted $0.56 EPS. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. As a group, research analysts expect that Conagra Brands will post 1.45 EPS for the current fiscal year.

Conagra Brands Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Thursday, July 30th will be given a dividend of $0.175 per share. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $0.70 annualized dividend and a dividend yield of 4.7%. Conagra Brands’s dividend payout ratio (DPR) is -35.00%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CAG. Barclays raised their price objective on Conagra Brands from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. BTIG Research started coverage on Conagra Brands in a research note on Monday, April 13th. They issued a “neutral” rating on the stock. BNP Paribas Exane reduced their price target on Conagra Brands from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, May 21st. Stifel Nicolaus lowered their price target on Conagra Brands from $17.00 to $15.00 and set a “hold” rating for the company in a research report on Tuesday, April 21st. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Conagra Brands from $14.00 to $12.00 and set a “hold” rating on the stock in a research note on Thursday, June 18th. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat, Conagra Brands presently has an average rating of “Reduce” and a consensus price target of $14.07.

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.