Cullen Capital Management LLC Sells 2,672,991 Shares of Conagra Brands $CAG

Cullen Capital Management LLC lowered its stake in Conagra Brands (NYSE:CAG) by 97.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 67,022 shares of the company’s stock after selling 2,672,991 shares during the period. Cullen Capital Management LLC’s holdings in Conagra Brands were worth $1,227,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. NewEdge Advisors LLC boosted its position in Conagra Brands by 4.2% during the first quarter. NewEdge Advisors LLC now owns 23,541 shares of the company’s stock worth $628,000 after purchasing an additional 954 shares during the period. United Services Automobile Association acquired a new stake in shares of Conagra Brands in the first quarter worth $225,000. Empowered Funds LLC boosted its holdings in shares of Conagra Brands by 5.9% during the 1st quarter. Empowered Funds LLC now owns 36,356 shares of the company’s stock worth $970,000 after buying an additional 2,038 shares during the period. Woodline Partners LP grew its stake in Conagra Brands by 40.7% in the 1st quarter. Woodline Partners LP now owns 40,326 shares of the company’s stock valued at $1,075,000 after buying an additional 11,664 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Conagra Brands by 8.4% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 73,577 shares of the company’s stock worth $1,506,000 after acquiring an additional 5,730 shares during the period. Institutional investors and hedge funds own 83.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CAG. UBS Group lowered their price target on Conagra Brands from $19.00 to $18.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 23rd. Jefferies Financial Group decreased their target price on Conagra Brands from $19.00 to $18.00 and set a “hold” rating for the company in a research note on Thursday, December 11th. The Goldman Sachs Group dropped their price target on Conagra Brands from $18.00 to $16.00 and set a “sell” rating on the stock in a research report on Monday, November 24th. Wall Street Zen cut Conagra Brands from a “hold” rating to a “sell” rating in a research report on Saturday, December 27th. Finally, Stifel Nicolaus lowered their price objective on shares of Conagra Brands from $21.00 to $19.00 and set a “hold” rating on the stock in a research note on Thursday, December 11th. One equities research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $18.71.

Conagra Brands Price Performance

Shares of NYSE:CAG opened at $19.56 on Friday. The firm has a market capitalization of $9.35 billion, a PE ratio of -88.89 and a beta of -0.01. The company has a current ratio of 0.89, a quick ratio of 0.28 and a debt-to-equity ratio of 0.80. Conagra Brands has a 1-year low of $15.96 and a 1-year high of $28.51. The business’s 50 day moving average is $17.47 and its 200-day moving average is $18.16.

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

Conagra Brands Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 7.2%. The ex-dividend date of this dividend is Tuesday, January 27th. Conagra Brands’s dividend payout ratio is -636.36%.

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.