Nordea Investment Management AB Sells 677,137 Shares of Conagra Brands $CAG

Key Points

• Nordea Investment Management AB has reduced its stake in Conagra Brands by 6.3%, selling 677,137 shares and retaining approximately 10.1 million shares, valued at $206.5 million.
• Conagra Brands reported earnings of $0.39 per share for the latest quarter, exceeding the expected $0.33, but its revenue decreased by 5.8% year-over-year.
• The company announced a quarterly dividend of $0.35, set to be paid on November 26th, with an annualized yield of 7.5%.

Nordea Investment Management AB decreased its holdings in shares of Conagra Brands (NYSE:CAG - Free Report) by 6.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,105,309 shares of the company's stock after selling 677,137 shares during the period. Nordea Investment Management AB owned 2.12% of Conagra Brands worth $206,451,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CAG. Wealth Enhancement Advisory Services LLC increased its stake in shares of Conagra Brands by 269.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 207,417 shares of the company's stock valued at $5,532,000 after purchasing an additional 151,209 shares in the last quarter. Sowell Financial Services LLC bought a new position in shares of Conagra Brands during the first quarter valued at approximately $633,000. State of Alaska Department of Revenue increased its stake in shares of Conagra Brands by 1.9% during the first quarter. State of Alaska Department of Revenue now owns 79,914 shares of the company's stock valued at $2,131,000 after purchasing an additional 1,500 shares in the last quarter. Retirement Systems of Alabama grew its holdings in shares of Conagra Brands by 988.7% during the first quarter. Retirement Systems of Alabama now owns 1,125,033 shares of the company's stock valued at $30,005,000 after buying an additional 1,021,698 shares during the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. grew its holdings in shares of Conagra Brands by 6.8% during the first quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 342,207 shares of the company's stock valued at $9,127,000 after buying an additional 21,876 shares during the last quarter. Institutional investors own 83.75% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Sanford C. Bernstein set a $21.00 price target on shares of Conagra Brands and gave the company a "market perform" rating in a report on Friday, July 11th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Conagra Brands in a report on Wednesday, October 8th. UBS Group cut their price target on shares of Conagra Brands from $20.00 to $19.00 and set a "neutral" rating on the stock in a report on Wednesday, September 24th. Morgan Stanley increased their price target on shares of Conagra Brands from $20.00 to $21.00 and gave the company an "equal weight" rating in a report on Wednesday, September 24th. Finally, Evercore ISI cut their price target on shares of Conagra Brands from $24.00 to $23.00 and set an "in-line" rating on the stock in a report on Wednesday, September 24th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average target price of $21.92.

Conagra Brands Trading Up 1.6%

Shares of CAG stock opened at $18.57 on Friday. Conagra Brands has a 12-month low of $17.89 and a 12-month high of $30.38. The company has a current ratio of 1.06, a quick ratio of 0.44 and a debt-to-equity ratio of 0.81. The firm's 50 day moving average is $18.90 and its 200 day moving average is $21.08. The stock has a market capitalization of $8.88 billion, a P/E ratio of 10.55, a P/E/G ratio of 1.73 and a beta of 0.03.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its earnings results on Wednesday, October 1st. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.06. Conagra Brands had a net margin of 7.42% and a return on equity of 11.72%. The company had revenue of $2.63 billion for the quarter, compared to analysts' expectations of $2.62 billion. During the same quarter last year, the company posted $0.53 earnings per share. The firm's quarterly revenue was down 5.8% on a year-over-year basis. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. Research analysts expect that Conagra Brands will post 2.35 earnings per share for the current year.

Conagra Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, October 30th will be issued a $0.35 dividend. The ex-dividend date is Thursday, October 30th. This represents a $1.40 annualized dividend and a yield of 7.5%. Conagra Brands's dividend payout ratio (DPR) is currently 79.55%.

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.

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