KBC Group NV Sells 92,806 Shares of Conagra Brands $CAG

Key Points

• KBC Group NV cut its Conagra Brands stake by 76.8% in the first quarter, selling 92,806 shares and leaving it with 28,061 shares valued at about $441,000.
• Conagra reported quarterly EPS of $0.47, slightly ahead of estimates, while revenue came in at $2.88 billion and rose 3.6% year over year.
• The company declared a quarterly dividend of $0.175 per share and analysts remain cautious, with a consensus rating of “Reduce” and an average price target of $14.07.

KBC Group NV lowered its position in shares of Conagra Brands (NYSE:CAG - Free Report) by 76.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,061 shares of the company's stock after selling 92,806 shares during the period. KBC Group NV's holdings in Conagra Brands were worth $441,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Bell Investment Advisors Inc increased its position in shares of Conagra Brands by 156.9% in the first quarter. Bell Investment Advisors Inc now owns 1,685 shares of the company's stock valued at $26,000 after acquiring an additional 1,029 shares during the period. CYBER HORNET ETFs LLC purchased a new stake in shares of Conagra Brands during the second quarter worth about $26,000. Harbour Investments Inc. grew its stake in shares of Conagra Brands by 80.4% in the fourth quarter. Harbour Investments Inc. now owns 1,573 shares of the company's stock worth $27,000 after purchasing an additional 701 shares during the last quarter. MUFG Securities EMEA plc bought a new stake in shares of Conagra Brands in the second quarter worth about $29,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Conagra Brands during the 3rd quarter valued at about $33,000. Institutional investors own 83.75% of the company's stock.

Conagra Brands Price Performance

CAG stock opened at $14.76 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.90 and a quick ratio of 0.31. Conagra Brands has a 1 year low of $12.53 and a 1 year high of $20.32. The firm has a 50-day moving average of $13.69 and a 200 day moving average of $15.61. The company has a market cap of $7.07 billion, a P/E ratio of -3.69 and a beta of -0.02.

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

Conagra Brands Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Thursday, July 30th will be given a dividend of $0.175 per share. The ex-dividend date is Thursday, July 30th. This represents a $0.70 annualized dividend and a dividend yield of 4.7%. Conagra Brands's payout ratio is currently -35.00%.

Analyst Upgrades and Downgrades

CAG has been the subject of a number of recent analyst reports. Weiss Ratings lowered Conagra Brands from a "sell (d+)" rating to a "sell (d)" rating in a research report on Thursday, June 25th. Stifel Nicolaus reduced 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. Royal Bank Of Canada decreased their target price on Conagra Brands from $16.00 to $14.00 and set a "sector perform" rating for the company in a report on Thursday, July 16th. The Goldman Sachs Group dropped their price target on Conagra Brands from $17.00 to $15.00 and set a "sell" rating for the company in a research note on Thursday, April 2nd. Finally, Wells Fargo & Company cut their price target on shares of Conagra Brands from $14.00 to $13.00 and set an "underweight" rating on the stock in a report on Monday, May 18th. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and six have issued a Sell rating to the company. According to MarketBeat, Conagra Brands has a consensus rating of "Reduce" and an average price target of $14.07.

Conagra Brands 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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