Conagra Brands $CAG Holdings Lifted by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System increased its position in shares of Conagra Brands (NYSE:CAG) by 38.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 132,182 shares of the company’s stock after purchasing an additional 36,914 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Conagra Brands were worth $1,777,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. AIA Group Ltd boosted 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 worth $6,462,000 after buying an additional 313,106 shares during the last quarter. BlackRock Inc. bought a new position in shares of Conagra Brands in the second quarter valued at approximately $1,071,275,000. Corient Private Wealth LP increased its position in shares of Conagra Brands by 655.5% during the second quarter. Corient Private Wealth LP now owns 1,356,285 shares of the company’s stock valued at $18,256,000 after acquiring an additional 1,176,752 shares during the last quarter. Man Group plc increased its position in shares of Conagra Brands by 382.9% during the second quarter. Man Group plc now owns 461,153 shares of the company’s stock valued at $6,207,000 after acquiring an additional 365,651 shares during the last quarter. Finally, Bank of America Corp DE purchased a new stake in shares of Conagra Brands during the second quarter valued at approximately $25,047,000. 83.75% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. Barclays dropped their price target on Conagra Brands from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Friday, October 2nd. Evercore set a $13.00 price objective on Conagra Brands in a research note on Tuesday, September 29th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Conagra Brands in a research report on Tuesday, September 22nd. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $14.00 target price on shares of Conagra Brands in a research report on Thursday, October 1st. Finally, Deutsche Bank lifted their target price on Conagra Brands from $12.00 to $13.00 and gave the stock a “hold” rating in a research note on Friday, September 18th. One analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Conagra Brands presently has a consensus rating of “Reduce” and an average target price of $14.07.

Conagra Brands Stock Performance

Shares of NYSE CAG traded up $0.17 during trading on Friday, reaching $14.71. 8,172,614 shares of the stock traded hands, compared to its average volume of 10,362,875. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.10 and a quick ratio of 0.39. The stock has a market capitalization of $7.03 billion, a P/E ratio of -3.70 and a beta of 0.02. Conagra Brands has a 52-week low of $12.53 and a 52-week high of $20.32. The company has a 50-day moving average of $14.45 and a 200-day moving average of $15.20.

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

Conagra Brands Announces Dividend

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

Conagra Brands 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.