AIA Group Ltd Sells 276,905 Shares of Conagra Brands $CAG

Key Points

• AIA Group cut its Conagra Brands stake by 87.4% in the third quarter, selling 276,905 shares and retaining 39,848 shares valued at about $536,000.
• Conagra beat quarterly earnings expectations, posting EPS of $0.41 versus the $0.28 estimate, while revenue edged above forecasts but fell 1.4% year over year.
• The company announced a quarterly dividend of $0.175 per share, equivalent to $0.70 annually and a 4.5% yield; analysts’ consensus rating is “Reduce,” with a $14.07 target price.

AIA Group Ltd trimmed its holdings in shares of Conagra Brands (NYSE:CAG - Free Report) by 87.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,848 shares of the company's stock after selling 276,905 shares during the period. AIA Group Ltd's holdings in Conagra Brands were worth $536,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Provenance Wealth Advisors LLC bought a new stake in Conagra Brands during the 3rd quarter worth about $34,000. First Nebraska Trust Co bought a new position in shares of Conagra Brands in the third quarter worth about $1,187,000. Salomon & Ludwin LLC bought a new position in shares of Conagra Brands in the third quarter worth about $67,000. Vise Technologies Inc. raised its stake in shares of Conagra Brands by 77.6% in the third quarter. Vise Technologies Inc. now owns 178,120 shares of the company's stock worth $2,394,000 after acquiring an additional 77,855 shares during the last quarter. Finally, Cidel Asset Management Inc. lifted its position in shares of Conagra Brands by 9.0% during the third quarter. Cidel Asset Management Inc. now owns 15,854 shares of the company's stock worth $213,000 after purchasing an additional 1,312 shares in the last quarter. Institutional investors own 83.75% of the company's stock.

Conagra Brands Stock Performance

Conagra Brands stock opened at $15.50 on Friday. The company has a market cap of $7.40 billion, a PE ratio of -3.89 and a beta of 0.02. The company has a current ratio of 1.10, a quick ratio of 0.39 and a debt-to-equity ratio of 1.08. Conagra Brands has a 1 year low of $12.53 and a 1 year high of $20.32. The company's 50-day moving average is $14.57 and its two-hundred day moving average is $15.28.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its quarterly earnings results on Wednesday, September 30th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.28 by $0.13. Conagra Brands had a negative net margin of 16.95% and a positive return on equity of 11.46%. The company had revenue of $2.60 billion during the quarter, compared to analysts' expectations of $2.59 billion. During the same quarter in the previous year, the company earned $0.39 EPS. Conagra Brands's revenue was down 1.4% on a year-over-year basis. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. Equities analysts anticipate that Conagra Brands will post 1.46 earnings per share for the current year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Thursday, November 5th will be paid a $0.1750 dividend. This represents a $0.70 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Thursday, November 5th. Conagra Brands's dividend payout ratio is presently -17.59%.

Analyst Ratings Changes

CAG has been the topic of several research analyst reports. UBS Group increased their price target on shares of Conagra Brands from $13.00 to $14.00 and gave the company a "neutral" rating in a research note on Thursday, July 16th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Conagra Brands from $12.00 to $13.00 and gave the company a "hold" rating in a report on Friday, September 18th. Weiss Ratings restated a "sell (d)" rating on shares of Conagra Brands in a research report on Tuesday, September 22nd. Barclays reduced their price objective on Conagra Brands from $17.00 to $16.00 and set an "overweight" rating on the stock in a report on Friday, October 2nd. Finally, Evercore set a $13.00 price objective on Conagra Brands in a research report on Tuesday, September 29th. One investment analyst has rated the stock with a Buy rating, twelve have given a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $14.07.

Conagra Brands Company Profile

Conagra Brands, Inc is a packaged food company that develops, manufactures and markets branded food products for retail, foodservice and other commercial customers. The company's portfolio includes frozen meals and side dishes, snacks, refrigerated foods, shelf-stable groceries, condiments and cooking products.

Its brands include Birds Eye, Healthy Choice, Marie Callender's, Banquet, Duncan Hines, Reddi-wip, Hunt's, Slim Jim, Orville Redenbacher's, Chef Boyardee, Hebrew National, Vlasic and PAM.

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