Retirement Systems of Alabama Reduces Holdings in Conagra Brands $CAG

Retirement Systems of Alabama decreased its position in shares of Conagra Brands (NYSE:CAG) by 1.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,107,073 shares of the company’s stock after selling 17,960 shares during the period. Retirement Systems of Alabama’s holdings in Conagra Brands were worth $22,662,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Conagra Brands by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 60,403,845 shares of the company’s stock worth $1,610,971,000 after buying an additional 1,604,893 shares during the period. Invesco Ltd. increased its position in shares of Conagra Brands by 6.3% in the 1st quarter. Invesco Ltd. now owns 11,859,985 shares of the company’s stock worth $316,306,000 after purchasing an additional 698,630 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Conagra Brands by 49.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,162,251 shares of the company’s stock worth $217,686,000 after purchasing an additional 2,702,407 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Conagra Brands by 233.7% in the 1st quarter. Ameriprise Financial Inc. now owns 5,985,256 shares of the company’s stock worth $159,625,000 after purchasing an additional 4,191,555 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of Conagra Brands by 315.4% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 4,120,156 shares of the company’s stock worth $84,340,000 after purchasing an additional 3,128,203 shares during the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Price Performance

Shares of NYSE:CAG opened at $17.21 on Friday. The company has a quick ratio of 0.44, a current ratio of 1.06 and a debt-to-equity ratio of 0.81. Conagra Brands has a fifty-two week low of $16.94 and a fifty-two week high of $29.46. The firm has a 50-day simple moving average of $18.66 and a 200 day simple moving average of $20.50. The company has a market cap of $8.23 billion, a PE ratio of 9.78, a P/E/G ratio of 1.65 and a beta of 0.03.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Wednesday, October 1st. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.06. Conagra Brands had a net margin of 7.42% and a return on equity of 11.72%. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the prior year, the firm earned $0.53 EPS. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. On average, sell-side analysts anticipate that Conagra Brands will post 2.35 EPS for the current year.

Conagra Brands Dividend Announcement

The firm 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. This represents a $1.40 dividend on an annualized basis and a dividend yield of 8.1%. The ex-dividend date of this dividend is Thursday, October 30th. Conagra Brands’s dividend payout ratio is currently 79.55%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CAG shares. Stifel Nicolaus dropped their target price on shares of Conagra Brands from $26.00 to $21.00 and set a “hold” rating for the company in a research report on Friday, July 11th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $22.00 target price on shares of Conagra Brands in a report on Thursday, October 2nd. UBS Group reduced their target price on Conagra Brands from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, September 24th. Zacks Research raised Conagra Brands from a “strong sell” rating to a “hold” rating in a report on Thursday, October 2nd. Finally, Sanford C. Bernstein set a $21.00 target price on Conagra Brands and gave the stock a “market perform” rating in a report on Friday, July 11th. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $21.92.

Conagra Brands 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.