Thrivent Financial for Lutherans Sells 223,956 Shares of Conagra Brands $CAG

Thrivent Financial for Lutherans lessened its holdings in Conagra Brands (NYSE:CAG) by 71.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 88,988 shares of the company’s stock after selling 223,956 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Conagra Brands were worth $1,629,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Keybank National Association OH boosted its stake in Conagra Brands by 45.5% in the third quarter. Keybank National Association OH now owns 14,633 shares of the company’s stock valued at $268,000 after acquiring an additional 4,579 shares during the last quarter. Winnow Wealth LLC bought a new stake in shares of Conagra Brands during the 3rd quarter valued at $1,058,000. Arizona State Retirement System lifted its stake in shares of Conagra Brands by 1.2% in the 3rd quarter. Arizona State Retirement System now owns 141,243 shares of the company’s stock valued at $2,586,000 after purchasing an additional 1,719 shares during the period. AE Wealth Management LLC boosted its position in shares of Conagra Brands by 13.7% in the 3rd quarter. AE Wealth Management LLC now owns 720,093 shares of the company’s stock worth $13,185,000 after purchasing an additional 86,604 shares during the last quarter. Finally, Ballentine Partners LLC boosted its position in shares of Conagra Brands by 25.8% in the 3rd quarter. Ballentine Partners LLC now owns 19,547 shares of the company’s stock worth $358,000 after purchasing an additional 4,012 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CAG shares. Deutsche Bank Aktiengesellschaft dropped their price objective on Conagra Brands from $19.00 to $18.00 and set a “hold” rating for the company in a report on Monday, December 22nd. Wall Street Zen cut Conagra Brands from a “hold” rating to a “sell” rating in a research note on Saturday, December 27th. TD Cowen reiterated a “hold” rating on shares of Conagra Brands in a research report on Monday, December 22nd. Royal Bank Of Canada reduced their price objective on shares of Conagra Brands from $22.00 to $20.00 and set a “sector perform” rating on the stock in a research note on Monday, December 22nd. Finally, Jefferies Financial Group lowered 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 Thursday, December 11th. One analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $18.71.

Conagra Brands Stock Performance

Shares of CAG stock opened at $19.96 on Friday. The company has a market capitalization of $9.55 billion, a P/E ratio of -90.70 and a beta of -0.01. Conagra Brands has a 52 week low of $15.96 and a 52 week high of $28.51. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.28 and a current ratio of 0.89. The company’s 50 day moving average price is $17.69 and its two-hundred day moving average price is $18.17.

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

Conagra Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Tuesday, January 27th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date is Tuesday, January 27th. Conagra Brands’s payout ratio is -636.36%.

Conagra Brands Company Profile

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.