Kornitzer Capital Management Inc. KS Sells 88,361 Shares of Conagra Brands $CAG

Kornitzer Capital Management Inc. KS cut its holdings in shares of Conagra Brands (NYSE:CAG) by 10.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 743,008 shares of the company’s stock after selling 88,361 shares during the quarter. Kornitzer Capital Management Inc. KS owned approximately 0.16% of Conagra Brands worth $13,604,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CAG. Vanguard Group Inc. grew its position in Conagra Brands by 1.6% during the second quarter. Vanguard Group Inc. now owns 61,369,876 shares of the company’s stock valued at $1,256,241,000 after buying an additional 966,031 shares during the period. State Street Corp boosted its stake in Conagra Brands by 2.3% in the second quarter. State Street Corp now owns 26,202,392 shares of the company’s stock valued at $536,363,000 after acquiring an additional 588,435 shares during the last quarter. Geode Capital Management LLC grew its position in shares of 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 acquiring an additional 193,829 shares during the period. Invesco Ltd. increased its stake in shares of Conagra Brands by 4.7% during the 2nd quarter. Invesco Ltd. now owns 12,414,110 shares of the company’s stock worth $254,117,000 after purchasing an additional 554,125 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Conagra Brands by 69.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 10,145,798 shares of the company’s stock worth $207,685,000 after purchasing an additional 4,160,542 shares during the period. 83.75% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CAG has been the subject of several research reports. Zacks Research lowered Conagra Brands from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 6th. Royal Bank Of Canada cut their price target on Conagra Brands from $22.00 to $20.00 and set a “sector perform” rating for the company in a research note on Monday, December 22nd. Morgan Stanley lowered their price objective on Conagra Brands from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Friday, January 16th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Conagra Brands from $19.00 to $18.00 and set a “hold” rating for the company in a research note on Monday, December 22nd. Finally, The Goldman Sachs Group dropped their price target on shares of Conagra Brands from $18.00 to $16.00 and set a “sell” rating on the stock in a research note on Monday, November 24th. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $18.71.

Conagra Brands Trading Up 3.4%

Shares of CAG opened at $18.09 on Tuesday. Conagra Brands has a twelve month low of $15.96 and a twelve month high of $28.51. The stock has a market cap of $8.65 billion, a PE ratio of -82.23 and a beta of -0.01. The company has a quick ratio of 0.28, a current ratio of 0.89 and a debt-to-equity ratio of 0.80. The business’s 50-day moving average price is $17.31 and its 200-day moving average price is $18.17.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Friday, December 19th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. The company had revenue of $2.98 billion during the quarter, compared to analyst estimates of $3 billion. Conagra Brands had a negative net margin of 0.87% and a positive return on equity of 10.59%. Conagra Brands’s revenue was down 6.8% compared to the same quarter last year. During the same period last year, the business earned $0.70 earnings per share. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. On average, equities analysts forecast that Conagra Brands will post 2.35 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Tuesday, January 27th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date is Tuesday, January 27th. Conagra Brands’s dividend payout ratio (DPR) is -636.36%.

Insider Transactions at Conagra Brands

In related news, SVP Melissa C. Napier sold 13,011 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was 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 hyperlink. Corporate insiders own 0.57% of the company’s stock.

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.