Fifth Third Bancorp Has $2.70 Million Holdings in Conagra Brands $CAG

Fifth Third Bancorp grew its holdings in Conagra Brands (NYSE:CAG - Free Report) by 315.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 172,005 shares of the company's stock after purchasing an additional 130,602 shares during the quarter. Fifth Third Bancorp's holdings in Conagra Brands were worth $2,704,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. WealthPlan Investment Management LLC boosted its holdings in Conagra Brands by 5.3% in the fourth quarter. WealthPlan Investment Management LLC now owns 10,920 shares of the company's stock valued at $189,000 after acquiring an additional 548 shares during the last quarter. International Private Wealth Advisors LLC lifted its position in Conagra Brands by 4.9% during the 4th quarter. International Private Wealth Advisors LLC now owns 13,153 shares of the company's stock valued at $228,000 after purchasing an additional 609 shares during the period. All Terrain Financial Advisors LLC boosted its stake in shares of Conagra Brands by 0.3% in the 4th quarter. All Terrain Financial Advisors LLC now owns 176,971 shares of the company's stock valued at $3,063,000 after purchasing an additional 609 shares during the last quarter. Jackson Hole Capital Partners LLC grew its position in shares of Conagra Brands by 4.1% during the 4th quarter. Jackson Hole Capital Partners LLC now owns 17,960 shares of the company's stock worth $311,000 after buying an additional 701 shares during the period. Finally, Harbour Investments Inc. raised its stake 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 buying an additional 701 shares during the last quarter. Institutional investors own 83.75% of the company's stock.

Wall Street Analyst Weigh In

CAG has been the subject of a number of recent analyst reports. BTIG Research started coverage on Conagra Brands in a report on Monday, April 13th. They issued a "neutral" rating for the company. Stifel Nicolaus lowered their price target on Conagra Brands from $17.00 to $15.00 and set a "hold" rating for the company in a research note on Tuesday, April 21st. Morgan Stanley cut their price target on shares of Conagra Brands from $15.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Friday, June 5th. Evercore reduced their price objective on shares of Conagra Brands from $18.00 to $13.00 in a research note on Wednesday, June 10th. Finally, Royal Bank Of Canada decreased their price objective on shares of Conagra Brands from $16.00 to $14.00 and set a "sector perform" rating for the company in a report on Thursday. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and six have given a Sell rating to the company's stock. According to MarketBeat, Conagra Brands presently has a consensus rating of "Reduce" and a consensus price target of $14.07.

Conagra Brands Stock Up 2.7%

Shares of CAG stock opened at $14.66 on Tuesday. 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 firm's 50-day moving average is $13.62 and its 200-day moving average is $15.68. The stock has a market cap of $7.02 billion, a price-to-earnings ratio of -3.67 and a beta of -0.02. Conagra Brands has a 52-week low of $12.53 and a 52-week high of $20.32.

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

Conagra Brands Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Thursday, July 30th will be paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Thursday, July 30th. Conagra Brands's dividend payout ratio is -35.00%.

Conagra Brands Company 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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