Conagra Brands $CAG Shares Sold by Credit Agricole S A

Key Points

• Credit Agricole S A significantly reduced its holdings in Conagra Brands by 60.4% during Q1, leaving it with 72,008 shares valued at $1.92 million.
• A series of hedge funds have altered their positions in Conagra Brands, with some making new purchases while others increased their existing stakes, highlighting ongoing institutional interest in the stock.
• Conagra Brands announced a quarterly dividend of $0.35 per share, which will yield approximately 7.1% annually, indicating a focus on returning value to shareholders amidst financial challenges.

Credit Agricole S A reduced its stake in shares of Conagra Brands (NYSE:CAG - Free Report) by 60.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,008 shares of the company's stock after selling 109,843 shares during the quarter. Credit Agricole S A's holdings in Conagra Brands were worth $1,920,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CAG. NewEdge Advisors LLC lifted its stake in Conagra Brands by 31.5% in the fourth quarter. NewEdge Advisors LLC now owns 22,587 shares of the company's stock worth $627,000 after acquiring an additional 5,415 shares during the period. MetLife Investment Management LLC lifted its stake in Conagra Brands by 1.4% in the fourth quarter. MetLife Investment Management LLC now owns 126,307 shares of the company's stock worth $3,505,000 after acquiring an additional 1,791 shares during the period. OneDigital Investment Advisors LLC lifted its stake in Conagra Brands by 10.5% in the fourth quarter. OneDigital Investment Advisors LLC now owns 7,614 shares of the company's stock worth $211,000 after acquiring an additional 722 shares during the period. Hsbc Holdings PLC lifted its stake in Conagra Brands by 8.8% in the fourth quarter. Hsbc Holdings PLC now owns 1,362,578 shares of the company's stock worth $37,702,000 after acquiring an additional 110,488 shares during the period. Finally, Banco Bilbao Vizcaya Argentaria S.A. lifted its stake in Conagra Brands by 8.8% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 103,033 shares of the company's stock worth $2,859,000 after acquiring an additional 8,343 shares during the period. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Stock Performance

Shares of Conagra Brands stock traded up $0.23 during midday trading on Friday, hitting $19.02. The company had a trading volume of 2,754,377 shares, compared to its average volume of 8,043,326. The stock has a market cap of $9.10 billion, a price-to-earnings ratio of 7.95, a PEG ratio of 1.83 and a beta of 0.08. The company has a quick ratio of 0.24, a current ratio of 0.71 and a debt-to-equity ratio of 0.70. The company has a fifty day simple moving average of $19.62 and a 200 day simple moving average of $22.81. Conagra Brands has a 12-month low of $18.18 and a 12-month high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its quarterly earnings data on Thursday, July 10th. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.05). The company had revenue of $2.78 billion during the quarter, compared to analysts' expectations of $2.88 billion. Conagra Brands had a net margin of 9.92% and a return on equity of 12.52%. The business's revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.61 earnings per share. As a group, analysts predict that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Wednesday, July 30th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 7.4%. The ex-dividend date of this dividend was Wednesday, July 30th. Conagra Brands's dividend payout ratio (DPR) is presently 58.58%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CAG. Barclays lowered their price objective on shares of Conagra Brands from $29.00 to $26.00 and set an "overweight" rating for the company in a research note on Monday, May 12th. JPMorgan Chase & Co. began coverage on shares of Conagra Brands in a research note on Wednesday, August 20th. They issued a "neutral" rating and a $20.00 price objective for the company. Royal Bank Of Canada lowered their price objective on shares of Conagra Brands from $25.00 to $22.00 and set a "sector perform" rating for the company in a research note on Friday, July 11th. Bank of America lowered shares of Conagra Brands from a "neutral" rating to an "underperform" rating and lowered their price objective for the stock from $27.00 to $20.00 in a research note on Thursday, June 12th. Finally, Stifel Nicolaus decreased their price target on shares of Conagra Brands from $26.00 to $21.00 and set a "hold" rating for the company in a research report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Conagra Brands currently has an average rating of "Hold" and an average target price of $22.17.

About Conagra Brands

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.