SVB Wealth LLC Sells 98,659 Shares of Conagra Brands $CAG

SVB Wealth LLC trimmed its holdings in shares of Conagra Brands (NYSE:CAG) by 80.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 23,803 shares of the company’s stock after selling 98,659 shares during the quarter. SVB Wealth LLC’s holdings in Conagra Brands were worth $320,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. AIA Group Ltd raised its stake 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 valued at $6,462,000 after acquiring an additional 313,106 shares during the period. BlackRock Inc. acquired a new position in shares of Conagra Brands during the 2nd quarter valued at $1,071,275,000. Corient Private Wealth LP boosted its position in Conagra Brands by 655.5% during the 2nd quarter. Corient Private Wealth LP now owns 1,356,285 shares of the company’s stock worth $18,256,000 after purchasing an additional 1,176,752 shares during the period. Man Group plc boosted its position in Conagra Brands by 382.9% during the 2nd quarter. Man Group plc now owns 461,153 shares of the company’s stock worth $6,207,000 after purchasing an additional 365,651 shares during the period. Finally, Bank of America Corp DE purchased a new stake in Conagra Brands during the 2nd quarter worth $25,047,000. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Stock Up 1.1%

NYSE:CAG traded up $0.17 on Friday, reaching $14.71. The stock had a trading volume of 8,172,614 shares, compared to its average volume of 10,362,875. The company has a 50-day moving average of $14.45 and a 200 day moving average of $15.20. The company has a current ratio of 1.10, a quick ratio of 0.39 and a debt-to-equity ratio of 1.08. The stock has a market cap of $7.03 billion, a P/E ratio of -3.70 and a beta of 0.02. Conagra Brands has a 12-month low of $12.53 and a 12-month high of $20.32.

Conagra Brands (NYSE:CAG) last announced its earnings results on Wednesday, September 30th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.13. Conagra Brands had a positive return on equity of 11.46% and a negative net margin of 16.95%. The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.59 billion. During the same period in the previous year, the company earned $0.39 earnings per share. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. On average, research analysts predict that Conagra Brands will post 1.46 earnings per share for the current year.

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Thursday, November 5th will be given a dividend of $0.1750 per share. The ex-dividend date of this dividend is Thursday, November 5th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.8%. Conagra Brands’s dividend payout ratio (DPR) is presently -17.59%.

Wall Street Analyst Weigh In

CAG has been the subject of several recent research reports. Deutsche Bank increased their price target on Conagra Brands from $12.00 to $13.00 and gave the company a “hold” rating in a report on Friday, September 18th. Evercore set a $13.00 target price on Conagra Brands in a report on Tuesday, September 29th. Barclays reduced their price target on Conagra Brands from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Friday, October 2nd. Zacks Research upgraded Conagra Brands from a “strong sell” rating to a “hold” rating in a report on Thursday, October 1st. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Conagra Brands in a research report on Tuesday, September 22nd. One equities research analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, Conagra Brands presently has a consensus rating of “Reduce” and an average target price of $14.07.

Conagra Brands Company Profile

Conagra Brands is a packaged-food company that develops, manufactures and markets products for retail, foodservice and other customers. Its offerings include frozen meals and vegetables, snacks, baking products, condiments, cooking ingredients and meat snacks. The company’s portfolio includes brands such as Birds Eye, Healthy Choice, Marie Callender’s, Duncan Hines, Slim Jim, Orville Redenbacher’s, Hunt’s, Banquet and Reddi-wip. Its products are sold primarily in the United States, as well as in international markets.