Conagra Brands $CAG Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC trimmed its stake in shares of Conagra Brands (NYSE:CAG) by 5.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 72,467 shares of the company’s stock after selling 3,965 shares during the period. DAVENPORT & Co LLC’s holdings in Conagra Brands were worth $1,483,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Conagra Brands by 2.7% in the first quarter. Vanguard Group Inc. now owns 60,403,845 shares of the company’s stock valued at $1,610,971,000 after purchasing an additional 1,604,893 shares during the period. Invesco Ltd. grew its holdings in Conagra Brands by 6.3% in the first quarter. Invesco Ltd. now owns 11,859,985 shares of the company’s stock valued at $316,306,000 after purchasing an additional 698,630 shares during the period. Dimensional Fund Advisors LP grew its holdings in Conagra Brands by 49.5% in the first quarter. Dimensional Fund Advisors LP now owns 8,162,251 shares of the company’s stock valued at $217,686,000 after purchasing an additional 2,702,407 shares during the period. Ameriprise Financial Inc. grew its holdings in Conagra Brands by 233.7% in the first quarter. Ameriprise Financial Inc. now owns 5,985,256 shares of the company’s stock valued at $159,625,000 after purchasing an additional 4,191,555 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its holdings in 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. 83.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on CAG shares. Sanford C. Bernstein set a $21.00 price objective on Conagra Brands and gave the company a “market perform” rating in a report on Friday, July 11th. Zacks Research raised Conagra Brands from a “strong sell” rating to a “hold” rating in a report on Thursday, October 2nd. Weiss Ratings reissued a “sell (d+)” rating on shares of Conagra Brands in a report on Wednesday. UBS Group dropped their price objective on Conagra Brands from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, September 24th. Finally, Evercore ISI dropped their price objective on Conagra Brands from $24.00 to $23.00 and set an “in-line” rating on the stock in a report on Wednesday, September 24th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $21.92.

Conagra Brands Stock Performance

NYSE CAG opened at $18.49 on Friday. The company has a market cap of $8.84 billion, a PE ratio of 10.51, a price-to-earnings-growth ratio of 1.78 and a beta of 0.03. The stock’s 50 day simple moving average is $18.96 and its 200-day simple moving average is $21.40. Conagra Brands has a 1-year low of $17.89 and a 1-year high of $30.47. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.06 and a quick ratio of 0.44.

Conagra Brands (NYSE:CAG) last released its earnings results on Wednesday, October 1st. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.06. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.62 billion. Conagra Brands had a return on equity of 11.72% and a net margin of 7.42%.The business’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.53 earnings per share. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. As a group, equities research analysts anticipate that Conagra Brands will post 2.35 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, October 30th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, October 30th. This represents a $1.40 dividend on an annualized basis and a yield of 7.6%. Conagra Brands’s dividend payout ratio (DPR) is presently 79.55%.

Conagra Brands Company Profile

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.