Fifth Third Bancorp Buys 31,441 Shares of Conagra Brands $CAG

Fifth Third Bancorp lifted its position in Conagra Brands (NYSE:CAG) by 142.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,494 shares of the company’s stock after buying an additional 31,441 shares during the quarter. Fifth Third Bancorp’s holdings in Conagra Brands were worth $979,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Quaker Wealth Management LLC increased its holdings in Conagra Brands by 202.3% during the 2nd quarter. Quaker Wealth Management LLC now owns 1,227 shares of the company’s stock worth $25,000 after acquiring an additional 2,427 shares during the period. CYBER HORNET ETFs LLC purchased a new position in shares of Conagra Brands during the 2nd quarter valued at $26,000. True Wealth Design LLC increased its holdings in shares of Conagra Brands by 844.4% in the third quarter. True Wealth Design LLC now owns 1,596 shares of the company’s stock worth $29,000 after purchasing an additional 1,427 shares during the period. MUFG Securities EMEA plc purchased a new stake in shares of Conagra Brands in the second quarter worth $29,000. Finally, Spire Wealth Management raised its position in shares of Conagra Brands by 249.0% in the third quarter. Spire Wealth Management now owns 1,724 shares of the company’s stock worth $32,000 after buying an additional 1,230 shares in the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CAG. Wells Fargo & Company upped their target price on Conagra Brands from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Conagra Brands from $19.00 to $18.00 and set a “hold” rating on the stock in a research report on Monday, December 22nd. Morgan Stanley reiterated an “overweight” rating on shares of Conagra Brands in a research report on Wednesday. TD Cowen reissued a “hold” rating on shares of Conagra Brands in a research note on Monday, December 22nd. Finally, Zacks Research cut shares of Conagra Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 6th. One analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $19.07.

Conagra Brands Stock Down 1.3%

Shares of NYSE CAG opened at $18.45 on Friday. Conagra Brands has a one year low of $15.96 and a one year high of $28.51. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.89 and a quick ratio of 0.28. The firm’s 50 day simple moving average is $17.89 and its two-hundred day simple moving average is $18.18. The stock has a market capitalization of $8.82 billion, a P/E ratio of -83.85 and a beta of -0.01.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $3 billion. During the same period in the previous year, the business posted $0.70 EPS. The business’s quarterly 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, analysts expect that Conagra Brands will post 2.35 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Tuesday, January 27th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date of this dividend is Tuesday, January 27th. Conagra Brands’s dividend payout ratio (DPR) is -636.36%.

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.