Conagra Brands $CAG Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its Conagra Brands stake by 63.8% in the third quarter, selling 67,910 shares and retaining 38,604 shares valued at approximately $519,000. Institutional investors collectively own 83.75% of the company.
• Conagra reported quarterly earnings of $0.41 per share, beating the $0.28 analyst consensus, while revenue of $2.60 billion was roughly in line with estimates but declined 1.4% year over year.
• Shares opened at $14.88, near the consensus analyst price target of $14.07. The company declared a quarterly dividend of $0.175, representing a $0.70 annualized payout and a 4.7% yield.

Assenagon Asset Management S.A. lowered its stake in Conagra Brands (NYSE:CAG - Free Report) by 63.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 38,604 shares of the company's stock after selling 67,910 shares during the period. Assenagon Asset Management S.A.'s holdings in Conagra Brands were worth $519,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of CAG. TT Capital Management LLC lifted its stake in Conagra Brands by 11.2% during the third quarter. TT Capital Management LLC now owns 14,911 shares of the company's stock worth $200,000 after purchasing an additional 1,500 shares during the last quarter. Curated Wealth Partners LLC acquired a new stake in shares of Conagra Brands in the 3rd quarter valued at $220,000. Mather Group LLC. increased its stake in shares of Conagra Brands by 16.3% in the 3rd quarter. Mather Group LLC. now owns 68,083 shares of the company's stock valued at $915,000 after purchasing an additional 9,524 shares during the last quarter. Triumph Capital Management increased its stake in shares of Conagra Brands by 36.2% in the 3rd quarter. Triumph Capital Management now owns 9,872 shares of the company's stock valued at $133,000 after purchasing an additional 2,626 shares during the last quarter. Finally, Krilogy Financial LLC raised its holdings in shares of Conagra Brands by 5.0% during the 3rd quarter. Krilogy Financial LLC now owns 64,836 shares of the company's stock worth $887,000 after buying an additional 3,075 shares in the last quarter. Institutional investors and hedge funds own 83.75% of the company's stock.

Conagra Brands Stock Down 1.3%

Shares of Conagra Brands stock opened at $14.88 on Friday. Conagra Brands has a one year low of $12.53 and a one year high of $20.32. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.10 and a quick ratio of 0.39. The stock's 50-day moving average is $14.84 and its 200 day moving average is $14.39. The firm has a market cap of $7.10 billion, a price-to-earnings ratio of -3.74 and a beta of 0.02.

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

Conagra Brands Dividend Announcement

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. The ex-dividend date is Thursday, November 5th. This represents a $0.70 annualized dividend and a dividend yield of 4.7%. Conagra Brands's payout ratio is presently -17.59%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CAG shares. Royal Bank Of Canada restated a "sector perform" rating and issued a $14.00 price target on shares of Conagra Brands in a research note on Thursday, October 1st. JPMorgan Chase & Co. upped their price objective on shares of Conagra Brands from $14.00 to $15.00 and gave the stock a "neutral" rating in a research report on Thursday, July 16th. Barclays dropped their price objective on shares of Conagra Brands from $17.00 to $16.00 and set an "overweight" rating for the company in a research note on Friday, October 2nd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Conagra Brands from $12.00 to $13.00 and gave the company a "hold" rating in a research report on Friday, September 18th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Conagra Brands in a research report on Tuesday, September 22nd. One equities research analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, Conagra Brands presently has an average rating of "Reduce" and a consensus price target 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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