Retirement Systems of Alabama Cuts Stock Holdings in Conagra Brands $CAG

Key Points

• Retirement Systems of Alabama slashed its stake in Conagra Brands by 90.8% in Q4, selling 1,005,071 shares and leaving 101,762 shares valued at about $1.76 million.
• Sell‑side analysts have trimmed price targets and the stock has a MarketBeat consensus rating of Reduce with a $16.27 target; CAG trades around $15.50, near its 52‑week low, reflecting weak sentiment.
• Conagra slightly missed quarterly EPS ($0.39 vs. $0.40 est.) while beating revenue, and announced a $0.35 quarterly dividend (about a 9.0% yield) despite an anomalous dividend payout ratio of -1,400%, indicating payout/earnings strain.

Retirement Systems of Alabama lowered its stake in shares of Conagra Brands (NYSE:CAG - Free Report) by 90.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,762 shares of the company's stock after selling 1,005,071 shares during the period. Retirement Systems of Alabama's holdings in Conagra Brands were worth $1,762,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CAG. CYBER HORNET ETFs LLC purchased a new stake in Conagra Brands during the 2nd quarter worth $26,000. MUFG Securities EMEA plc purchased a new stake in Conagra Brands during the 2nd quarter worth $29,000. True Wealth Design LLC increased its stake in Conagra Brands by 844.4% during the 3rd quarter. True Wealth Design LLC now owns 1,596 shares of the company's stock worth $29,000 after buying an additional 1,427 shares during the period. Spire Wealth Management increased its stake in Conagra Brands by 249.0% during the 3rd quarter. Spire Wealth Management now owns 1,724 shares of the company's stock worth $32,000 after buying an additional 1,230 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Conagra Brands during the 3rd quarter worth $33,000. Hedge funds and other institutional investors own 83.75% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. TD Cowen dropped their price target on shares of Conagra Brands from $18.00 to $14.00 and set a "hold" rating on the stock in a research note on Wednesday, March 25th. Morgan Stanley decreased their price objective on shares of Conagra Brands from $19.00 to $17.00 and set an "equal weight" rating for the company in a report on Thursday, April 2nd. JPMorgan Chase & Co. decreased their price objective on shares of Conagra Brands from $19.00 to $17.00 and set a "neutral" rating for the company in a report on Friday, March 20th. Bank of America decreased their price objective on shares of Conagra Brands from $18.00 to $17.00 and set an "underperform" rating for the company in a report on Monday, December 22nd. Finally, UBS Group decreased their price objective on shares of Conagra Brands from $20.00 to $16.00 and set a "neutral" rating for the company in a report on Thursday, April 2nd. Two analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus target price of $16.27.

Conagra Brands Trading Down 1.8%

Shares of NYSE:CAG opened at $15.50 on Wednesday. The company has a market cap of $7.41 billion, a PE ratio of -154.94 and a beta of 0.04. The company's 50-day moving average price is $17.67 and its 200 day moving average price is $17.66. Conagra Brands has a fifty-two week low of $15.03 and a fifty-two week high of $26.33. The company has a quick ratio of 0.28, a current ratio of 0.90 and a debt-to-equity ratio of 0.79.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 1st. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.01). The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.76 billion. Conagra Brands had a negative net margin of 0.39% and a positive return on equity of 10.15%. The company's revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.51 earnings per share. Sell-side analysts anticipate that Conagra Brands will post 2.35 earnings per share for the current year.

Conagra Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Thursday, April 30th will be given a $0.35 dividend. The ex-dividend date is Thursday, April 30th. This represents a $1.40 annualized dividend and a yield of 9.0%. Conagra Brands's dividend payout ratio (DPR) is currently -1,400.00%.

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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