Hsbc Holdings PLC Trims Stock Position in Conagra Brands $CAG

Hsbc Holdings PLC decreased its holdings in Conagra Brands (NYSE:CAG - Free Report) by 79.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 209,865 shares of the company's stock after selling 826,502 shares during the quarter. Hsbc Holdings PLC's holdings in Conagra Brands were worth $2,825,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in shares of Conagra Brands by 24.8% during the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 661,029 shares of the company's stock valued at $11,442,000 after buying an additional 131,287 shares during the period. Goldman Sachs Group Inc. grew its position in Conagra Brands by 23.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 8,125,901 shares of the company's stock valued at $140,659,000 after acquiring an additional 1,554,725 shares during the period. Leonteq Securities AG purchased a new stake in Conagra Brands during the fourth quarter valued at about $2,415,000. Marathon Trading Investment Management LLC acquired a new stake in Conagra Brands during the fourth quarter worth about $1,367,000. Finally, AIA Group Ltd increased its stake in Conagra Brands by 319.5% during the first quarter. AIA Group Ltd now owns 411,099 shares of the company's stock worth $6,462,000 after acquiring an additional 313,106 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company's stock.

Conagra Brands Stock Down 2.8%

CAG stock opened at $14.68 on Friday. 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 50 day simple moving average of $15.11 and a 200-day simple moving average of $14.98. The company has a market capitalization of $7.03 billion, a P/E ratio of -3.67 and a beta of -0.01. Conagra Brands has a twelve month low of $12.53 and a twelve month high of $20.32.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 15th. The company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.46 by $0.01. The firm had revenue of $2.88 billion for 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%. The firm's revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.56 EPS. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. On average, equities research analysts predict that Conagra Brands will post 1.45 earnings per share for the current fiscal year.

Conagra Brands Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Thursday, July 30th were issued a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend was Thursday, July 30th. Conagra Brands's payout ratio is currently -17.50%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Morgan Stanley reduced their price objective on Conagra Brands from $15.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Friday, June 5th. Deutsche Bank Aktiengesellschaft dropped 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 report on Thursday, June 18th. Sanford C. Bernstein restated an "underperform" rating and issued a $12.00 price target (down from $16.00) on shares of Conagra Brands in a report on Wednesday, June 3rd. JPMorgan Chase & Co. lifted their price target on shares of Conagra Brands from $14.00 to $15.00 and gave the company a "neutral" rating in a research report on Thursday, July 16th. Finally, Weiss Ratings lowered shares of Conagra Brands from a "sell (d+)" rating to a "sell (d)" rating in a research report on Thursday, June 25th. One analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat, Conagra Brands presently has a consensus rating of "Reduce" and an average price target of $14.07.

Conagra Brands Company Profile

Conagra Brands, Inc is a packaged food company that develops, manufactures and markets branded and private-label food products primarily in North America. Its portfolio spans frozen meals and sides, snacks, shelf-stable foods, condiments, refrigerated foods and cooking products, serving retail grocery, foodservice and other distribution channels.

Its well-known brands include Birds Eye, Healthy Choice, Banquet, Marie Callender's, Duncan Hines, Reddi-wip, Slim Jim, Vlasic, Hunt's and PAM.

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