Conagra Brands $CAG Stake Lessened by State of Michigan Retirement System

State of Michigan Retirement System decreased its holdings in shares of Conagra Brands (NYSE:CAG) by 19.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 129,515 shares of the company’s stock after selling 30,686 shares during the quarter. State of Michigan Retirement System’s holdings in Conagra Brands were worth $2,371,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. NewEdge Advisors LLC grew its stake in Conagra Brands by 4.2% during the 1st quarter. NewEdge Advisors LLC now owns 23,541 shares of the company’s stock valued at $628,000 after acquiring an additional 954 shares in the last quarter. United Services Automobile Association purchased a new position in Conagra Brands during the first quarter valued at approximately $225,000. Empowered Funds LLC increased its stake in Conagra Brands by 5.9% in the 1st quarter. Empowered Funds LLC now owns 36,356 shares of the company’s stock valued at $970,000 after buying an additional 2,038 shares during the period. Woodline Partners LP increased 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 period. Finally, Aberdeen Group plc boosted its stake in shares of Conagra Brands by 5.0% during the 2nd quarter. Aberdeen Group plc now owns 333,720 shares of the company’s stock valued at $6,776,000 after buying an additional 15,796 shares during the period. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Stock Performance

Shares of NYSE CAG opened at $20.03 on Thursday. The business’s 50-day simple moving average is $17.63 and its 200-day simple moving average is $18.16. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.28 and a current ratio of 0.89. Conagra Brands has a 52 week low of $15.96 and a 52 week high of $28.51. The firm has a market cap of $9.58 billion, a price-to-earnings ratio of -91.06 and a beta of -0.01.

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

Conagra Brands Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CAG shares. Sanford C. Bernstein dropped their price target on shares of Conagra Brands from $21.00 to $18.00 and set a “market perform” rating on the stock in a research note on Monday, December 22nd. JPMorgan Chase & Co. cut their price target on Conagra Brands from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday, December 16th. Deutsche Bank Aktiengesellschaft lowered their price target on Conagra Brands from $19.00 to $18.00 and set a “hold” rating for the company in a research note on Monday, December 22nd. Bank of America dropped their price objective on Conagra Brands from $18.00 to $17.00 and set an “underperform” rating on the stock in a report on Monday, December 22nd. Finally, Evercore reduced their target price on shares of Conagra Brands from $22.00 to $19.00 in a research note on Friday, January 9th. One research 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. According to data from MarketBeat, Conagra Brands currently has an average rating of “Reduce” and a consensus target price of $18.71.

Conagra Brands 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.