Thrivent Financial for Lutherans Cuts Stake in Conagra Brands $CAG

Thrivent Financial for Lutherans lowered its stake in shares of Conagra Brands (NYSE:CAG) by 16.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 312,944 shares of the company’s stock after selling 60,884 shares during the period. Thrivent Financial for Lutherans owned 0.07% of Conagra Brands worth $6,405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Campbell & CO Investment Adviser LLC bought a new stake in shares of Conagra Brands in the second quarter worth about $2,489,000. Y Intercept Hong Kong Ltd bought a new position in Conagra Brands during the second quarter valued at approximately $10,465,000. Hsbc Holdings PLC grew its holdings in Conagra Brands by 20.0% during the 2nd quarter. Hsbc Holdings PLC now owns 1,251,371 shares of the company’s stock valued at $25,578,000 after buying an additional 208,450 shares in the last quarter. Triton Financial Group Inc bought a new stake in Conagra Brands in the 2nd quarter worth approximately $690,000. Finally, Bleakley Financial Group LLC bought a new stake in Conagra Brands in the 2nd quarter worth approximately $356,000. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Price Performance

CAG stock opened at $17.80 on Friday. The stock has a market cap of $8.51 billion, a PE ratio of 10.11 and a beta of -0.01. Conagra Brands has a 12 month low of $16.60 and a 12 month high of $28.51. The company has a 50-day moving average price of $17.68 and a 200 day moving average price of $19.02. The company has a current ratio of 1.06, a quick ratio of 0.44 and a debt-to-equity ratio of 0.81.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Wednesday, October 1st. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.06. Conagra Brands had a net margin of 7.42% and a return on equity of 11.72%. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same period in the prior year, the company posted $0.53 EPS. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. Equities research analysts anticipate that Conagra Brands will post 2.35 earnings per share for the current year.

Conagra Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Tuesday, January 27th will be issued a dividend of $0.35 per share. The ex-dividend date is Tuesday, January 27th. This represents a $1.40 dividend on an annualized basis and a yield of 7.9%. Conagra Brands’s payout ratio is presently 79.55%.

Wall Street Analysts Forecast Growth

CAG has been the subject of a number of research reports. The Goldman Sachs Group lowered their target price on Conagra Brands from $18.00 to $16.00 and set a “sell” rating for the company in a research report on Monday, November 24th. Evercore ISI lowered their price objective on shares of Conagra Brands from $24.00 to $23.00 and set an “in-line” rating for the company in a research report on Wednesday, September 24th. Zacks Research raised shares of Conagra Brands from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 2nd. Morgan Stanley upped their target price on shares of Conagra Brands from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 24th. Finally, UBS Group lowered their price target on shares of Conagra Brands from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, September 24th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Conagra Brands currently has a consensus rating of “Reduce” and a consensus target price of $20.25.

Insider Buying and Selling

In other Conagra Brands news, SVP Melissa C. Napier sold 13,011 shares of the stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $17.19, for a total value of $223,659.09. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.57% of the stock is owned by company insiders.

Conagra Brands Company Profile

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.