KLP Kapitalforvaltning AS Lowers Position in Conagra Brands $CAG

KLP Kapitalforvaltning AS trimmed its position in shares of Conagra Brands (NYSE:CAG) by 38.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 124,300 shares of the company’s stock after selling 76,614 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Conagra Brands were worth $2,276,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CAG. Quaker Wealth Management LLC boosted its position in shares of Conagra Brands by 202.3% during the second quarter. Quaker Wealth Management LLC now owns 1,227 shares of the company’s stock valued at $25,000 after purchasing an additional 2,427 shares in the last quarter. CYBER HORNET ETFs LLC purchased a new position in Conagra Brands during the second quarter valued at $26,000. MUFG Securities EMEA plc bought a new stake in shares of Conagra Brands during the 2nd quarter valued at $29,000. True Wealth Design LLC grew its position in shares of Conagra Brands by 844.4% in the 3rd quarter. True Wealth Design LLC now owns 1,596 shares of the company’s stock worth $29,000 after buying an additional 1,427 shares during the period. Finally, Clearstead Trust LLC increased its stake in shares of Conagra Brands by 522.1% in the 2nd quarter. Clearstead Trust LLC now owns 1,636 shares of the company’s stock worth $33,000 after acquiring an additional 1,373 shares in the last quarter. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Trading Up 2.2%

NYSE:CAG opened at $16.95 on Friday. The stock has a market cap of $8.11 billion, a price-to-earnings ratio of -77.02 and a beta of -0.01. The company has a quick ratio of 0.28, a current ratio of 0.89 and a debt-to-equity ratio of 0.80. The company’s 50 day moving average price is $17.31 and its 200-day moving average price is $18.45. Conagra Brands has a 52 week low of $15.96 and a 52 week high of $28.51.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Friday, December 19th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $3 billion. During the same period in the prior year, the firm posted $0.70 EPS. The firm’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. On average, equities research analysts forecast that Conagra Brands will post 2.35 earnings per share for the current fiscal 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 given a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, January 27th. This represents a $1.40 annualized dividend and a dividend yield of 8.3%. Conagra Brands’s dividend payout ratio (DPR) is -636.36%.

Insider Buying and Selling

In related news, SVP Melissa C. Napier sold 13,011 shares of Conagra Brands stock in a transaction dated 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on CAG. Stifel Nicolaus dropped their price objective on shares of Conagra Brands from $21.00 to $19.00 and set a “hold” rating on the stock in a research note on Thursday, December 11th. TD Cowen dropped their price target on Conagra Brands from $19.00 to $18.00 and set a “hold” rating on the stock in a research report on Monday, December 22nd. Wall Street Zen lowered Conagra Brands from a “hold” rating to a “sell” rating in a research report on Saturday, December 27th. JPMorgan Chase & Co. lowered their price objective 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. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Conagra Brands in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, twelve have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $19.00.

Conagra Brands Company 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.