Conagra Brands $CAG Shares Sold by Twin Tree Management LP

Twin Tree Management LP decreased its stake in Conagra Brands (NYSE:CAG) by 55.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 79,643 shares of the company’s stock after selling 100,259 shares during the quarter. Twin Tree Management LP’s holdings in Conagra Brands were worth $1,072,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in Conagra Brands by 24.8% during the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 661,029 shares of the company’s stock worth $11,442,000 after buying an additional 131,287 shares during the period. Goldman Sachs Group Inc. boosted its position in Conagra Brands by 23.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 8,125,901 shares of the company’s stock valued at $140,659,000 after buying an additional 1,554,725 shares during the last quarter. Leonteq Securities AG acquired a new stake in shares of Conagra Brands during the fourth quarter valued at about $2,415,000. Marathon Trading Investment Management LLC purchased a new stake in shares of Conagra Brands during the fourth quarter worth about $1,367,000. Finally, Hsbc Holdings PLC lifted its stake in shares of Conagra Brands by 25.0% in the fourth quarter. Hsbc Holdings PLC now owns 785,989 shares of the company’s stock worth $13,634,000 after acquiring an additional 157,423 shares in the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Wall Street Analysts Forecast Growth

CAG has been the topic of a number of recent analyst reports. Morgan Stanley cut their target price on Conagra Brands from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Friday, June 5th. Barclays increased their price target on shares of Conagra Brands from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Zacks Research downgraded shares of Conagra Brands from a “hold” rating to a “strong sell” rating in a report on Monday, May 11th. Jefferies Financial Group dropped their target price on shares of Conagra Brands from $15.00 to $13.00 and set a “hold” rating on the stock in a report on Wednesday, May 27th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Conagra Brands from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $14.07.

Conagra Brands Trading Up 1.1%

Shares of NYSE:CAG opened at $16.45 on Friday. The company has a market cap of $7.87 billion, a PE ratio of -4.11 and a beta of -0.03. The company’s 50-day moving average price is $14.50 and its 200 day moving average price is $15.35. Conagra Brands has a fifty-two week low of $12.53 and a fifty-two week high of $20.32. 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 (NYSE:CAG) last posted its earnings results on Wednesday, July 15th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.46 by $0.01. Conagra Brands had a negative net margin of 16.99% and a positive return on equity of 10.44%. The firm had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter in the prior year, the firm earned $0.56 EPS. Conagra Brands’s quarterly revenue was up 3.6% on a year-over-year basis. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. Sell-side analysts anticipate that Conagra Brands will post 1.45 earnings per share for the current year.

Conagra Brands Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Thursday, July 30th will be paid a dividend of $0.175 per share. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $0.70 annualized dividend and a yield of 4.3%. Conagra Brands’s payout ratio is presently -17.50%.

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.