Conagra Brands $CAG Position Reduced by Glenmede Trust Co. NA

Key Points

• Glenmede Trust reduced its Conagra Brands position by 92.9% in the first quarter, selling 263,100 shares and retaining 20,112 shares worth approximately $316,000. Institutional investors collectively own 83.75% of CAG.
• Conagra reported quarterly EPS of $0.47, slightly exceeding estimates, while revenue of $2.88 billion rose 3.6% year over year but narrowly missed expectations. The company expects fiscal 2027 EPS of $1.40–$1.50.
• The company declared a quarterly dividend of $0.175, equivalent to $0.70 annually and a 4.6% yield. Analysts remain cautious, with a consensus “Reduce” rating and an average price target of $14.07 versus the stock’s $15.09 opening price.

Glenmede Trust Co. NA decreased its position in Conagra Brands (NYSE:CAG - Free Report) by 92.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,112 shares of the company's stock after selling 263,100 shares during the quarter. Glenmede Trust Co. NA's holdings in Conagra Brands were worth $316,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Bell Investment Advisors Inc increased its position in Conagra Brands by 156.9% in the first quarter. Bell Investment Advisors Inc now owns 1,685 shares of the company's stock worth $26,000 after buying an additional 1,029 shares during the period. CYBER HORNET ETFs LLC bought a new position in shares of Conagra Brands during the second quarter worth about $26,000. Harbour Investments Inc. grew its position in shares of Conagra Brands by 80.4% during the fourth quarter. Harbour Investments Inc. now owns 1,573 shares of the company's stock worth $27,000 after acquiring an additional 701 shares during the last quarter. MUFG Securities EMEA plc acquired a new stake in shares of Conagra Brands in the 2nd quarter worth about $29,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Conagra Brands in the 3rd quarter worth about $33,000. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Stock Down 0.2%

Shares of NYSE:CAG opened at $15.09 on Monday. The firm has a 50 day simple moving average of $14.01 and a 200 day simple moving average of $15.48. Conagra Brands has a 52 week low of $12.53 and a 52 week high of $20.32. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.31 and a current ratio of 0.90. The company has a market cap of $7.22 billion, a PE ratio of -3.77 and a beta of -0.03.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its earnings results on Wednesday, July 15th. The company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.46 by $0.01. The company had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.89 billion. Conagra Brands had a positive return on equity of 10.44% and a negative net margin of 16.99%.The firm's quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.56 EPS. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. As a group, research analysts expect that Conagra Brands will post 1.45 earnings per share for the current year.

Conagra Brands Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Thursday, July 30th will be given a $0.175 dividend. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.6%. Conagra Brands's payout ratio is currently -17.50%.

Analyst Ratings Changes

Several analysts have weighed in on CAG shares. Stifel Nicolaus cut their target price on Conagra Brands from $17.00 to $15.00 and set a "hold" rating on the stock in a research note on Tuesday, April 21st. Wells Fargo & Company decreased their price target 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. Zacks Research lowered Conagra Brands from a "hold" rating to a "strong sell" rating in a report on Monday, May 11th. Royal Bank Of Canada cut their price objective on shares of Conagra Brands from $16.00 to $14.00 and set a "sector perform" rating on the stock in a research note on Thursday, July 16th. Finally, Jefferies Financial Group reduced their price objective on shares of Conagra Brands from $15.00 to $13.00 and set a "hold" rating for the company in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce" and an average target price of $14.07.

About Conagra Brands

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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