Sei Investments Co. Reduces Position in Conagra Brands $CAG

Sei Investments Co. reduced its position in shares of Conagra Brands (NYSE:CAG) by 14.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 399,719 shares of the company’s stock after selling 65,267 shares during the period. Sei Investments Co. owned about 0.08% of Conagra Brands worth $6,283,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp raised its stake in Conagra Brands by 2.3% in the second quarter. State Street Corp now owns 26,202,392 shares of the company’s stock valued at $536,363,000 after buying an additional 588,435 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Conagra Brands by 9.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 19,323,789 shares of the company’s stock worth $303,771,000 after acquiring an additional 1,701,624 shares in the last quarter. Invesco Ltd. boosted its position in shares of Conagra Brands by 13.3% during the 4th quarter. Invesco Ltd. now owns 17,667,780 shares of the company’s stock worth $305,829,000 after acquiring an additional 2,079,903 shares in the last quarter. Morgan Stanley increased its holdings in shares of Conagra Brands by 18.5% in the 4th quarter. Morgan Stanley now owns 15,229,557 shares of the company’s stock valued at $263,624,000 after acquiring an additional 2,376,823 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Conagra Brands by 19.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 12,130,671 shares of the company’s stock valued at $222,113,000 after acquiring an additional 1,984,873 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Trading Up 3.1%

CAG opened at $14.96 on Tuesday. The company has a quick ratio of 0.31, a current ratio of 0.90 and a debt-to-equity ratio of 1.02. Conagra Brands has a 52 week low of $12.53 and a 52 week high of $20.32. The business’s 50 day moving average is $13.87 and its two-hundred day moving average is $15.54. The firm has a market cap of $7.16 billion, a price-to-earnings ratio of -3.74 and a beta of -0.02.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Wednesday, July 15th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.01. The business had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.89 billion. Conagra Brands had a positive return on equity of 10.44% and a negative net margin of 16.99%.The company’s revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.56 earnings per share. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. On average, research analysts predict that Conagra Brands will post 1.45 EPS for the current year.

Conagra Brands Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Thursday, July 30th will be paid a dividend of $0.175 per share. The ex-dividend date is Thursday, July 30th. This represents a $0.70 dividend on an annualized basis and a yield of 4.7%. Conagra Brands’s dividend payout ratio is currently -17.50%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Wells Fargo & Company decreased their target price on Conagra Brands from $14.00 to $13.00 and set an “underweight” rating for the company in a research note on Monday, May 18th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Conagra Brands from $14.00 to $12.00 and set a “hold” rating on the stock in a research note on Thursday, June 18th. BTIG Research initiated coverage on shares of Conagra Brands in a report on Monday, April 13th. They set a “neutral” rating on the stock. Jefferies Financial Group reduced their price objective on shares of Conagra Brands from $15.00 to $13.00 and set a “hold” rating for the company in a research report on Wednesday, May 27th. Finally, Zacks Research cut shares of Conagra Brands from a “hold” rating to a “strong sell” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $14.07.

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.