Amundi Decreases Position in Conagra Brands $CAG

Key Points

• Amundi reduced its Conagra Brands stake by 14.7% in the first quarter, selling 250,116 shares and retaining 1.45 million shares valued at approximately $22.8 million. Institutional investors collectively own 83.75% of the company.
• Analyst sentiment is cautious: the stock has an average “Reduce” rating and a consensus price target of $14.07, with several firms recently lowering their targets despite Barclays raising its target to $17.
• Conagra reported quarterly EPS of $0.47, slightly above expectations, while revenue rose 3.6% year over year to $2.88 billion. Shares opened at $14.96, and the company declared a quarterly dividend of $0.175 per share, representing a 4.7% annualized yield.

Amundi lowered its stake in Conagra Brands (NYSE:CAG - Free Report) by 14.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,448,981 shares of the company's stock after selling 250,116 shares during the period. Amundi owned approximately 0.30% of Conagra Brands worth $22,778,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CAG. Bell Investment Advisors Inc raised its position in Conagra Brands by 156.9% during the 1st quarter. Bell Investment Advisors Inc now owns 1,685 shares of the company's stock valued at $26,000 after purchasing an additional 1,029 shares during the last quarter. CYBER HORNET ETFs LLC purchased a new position in Conagra Brands during the second quarter valued at $26,000. Harbour Investments Inc. increased its stake in shares of Conagra Brands by 80.4% in the 4th quarter. Harbour Investments Inc. now owns 1,573 shares of the company's stock worth $27,000 after acquiring an additional 701 shares in the last quarter. MUFG Securities EMEA plc purchased a new position in Conagra Brands during the 2nd quarter valued at about $29,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Conagra Brands during the third quarter worth about $33,000. 83.75% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CAG shares. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Conagra Brands from $14.00 to $12.00 and set a "hold" rating for the company in a research note on Thursday, June 18th. Wells Fargo & Company lowered their price objective 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. Weiss Ratings downgraded Conagra Brands from a "sell (d+)" rating to a "sell (d)" rating in a report on Thursday, June 25th. Barclays raised their price target on Conagra Brands from $16.00 to $17.00 and gave the company an "overweight" rating in a report on Friday, July 17th. Finally, Evercore lowered their price target on Conagra Brands from $18.00 to $13.00 in a research report on Wednesday, June 10th. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus target price of $14.07.

Conagra Brands Stock Up 3.1%

Conagra Brands stock opened at $14.96 on Tuesday. Conagra Brands has a 12 month low of $12.53 and a 12 month high of $20.32. The stock has a fifty day simple moving average of $13.87 and a two-hundred day simple moving average of $15.54. The company has a current ratio of 0.90, a quick ratio of 0.31 and a debt-to-equity ratio of 1.02. 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 - Get Free Report) last announced its quarterly earnings results on Wednesday, July 15th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.01. Conagra Brands had a positive return on equity of 10.44% and a negative net margin of 16.99%.The firm had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same period in the prior year, the company posted $0.56 earnings per share. The company'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. Equities analysts predict that Conagra Brands will post 1.45 EPS for the current fiscal year.

Conagra Brands Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Thursday, July 30th will be issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Thursday, July 30th. Conagra Brands's dividend payout ratio (DPR) 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.

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