State Street Corp Decreases Stock Position in Conagra Brands $CAG

Key Points

• State Street reduced its Conagra Brands stake by 33.9% in the second quarter, selling 8.48 million shares and retaining 16.54 million shares worth approximately $222.6 million. Institutional investors collectively own 83.75% of the company.
• Analyst sentiment remains cautious, with a consensus “Reduce” rating and an average price target of $14.10; 11 analysts rate the stock Hold, six Sell and one Buy.
• Conagra is scheduled to report fiscal first-quarter results on Sept. 30, with investors watching whether new product demand and snacking trends can offset pressure from weaker consumer spending and food costs. Forecasts point to declining earnings and potential guidance risk.

State Street Corp trimmed its stake in shares of Conagra Brands (NYSE:CAG - Free Report) by 33.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,541,117 shares of the company's stock after selling 8,483,683 shares during the quarter. State Street Corp owned 3.46% of Conagra Brands worth $222,643,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its stake in shares of Conagra Brands by 23.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 8,125,901 shares of the company's stock worth $140,659,000 after buying an additional 1,554,725 shares during the period. Marathon Trading Investment Management LLC purchased a new position in Conagra Brands in the fourth quarter worth approximately $1,367,000. Hsbc Holdings PLC grew its holdings in Conagra Brands by 25.0% during the 4th quarter. Hsbc Holdings PLC now owns 785,989 shares of the company's stock worth $13,634,000 after acquiring an additional 157,423 shares in the last quarter. AIA Group Ltd grew its holdings in Conagra Brands by 319.5% during the 1st 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 in the last quarter. Finally, BlackRock Inc. acquired a new position in Conagra Brands during the 2nd quarter worth approximately $1,071,275,000. Hedge funds and other institutional investors own 83.75% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CAG shares. Evercore set a $12.50 price objective on shares of Conagra Brands in a report on Monday, September 14th. Weiss Ratings downgraded shares of Conagra Brands from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday, June 25th. Morgan Stanley dropped their target price on Conagra Brands from $15.00 to $13.00 and set an "equal weight" rating on the stock in a report on Friday, June 5th. Jefferies Financial Group cut their price target on Conagra Brands from $15.00 to $13.00 and set a "hold" rating on the stock in a research note on Wednesday, May 27th. Finally, Barclays lifted their price target on Conagra Brands from $16.00 to $17.00 and gave the stock an "overweight" rating in a report on Friday, July 17th. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Reduce" and a consensus target price of $14.10.

Key Headlines Impacting Conagra Brands

Here are the key news stories impacting Conagra Brands this week:

• Positive Sentiment: Conagra’s 2026 Future of Snacking report identifies growth opportunities in higher-protein foods, bold flavors, functional benefits and products tailored to specific health goals. The company also says consumers are increasingly using artificial intelligence to discover snack options, potentially supporting innovation across brands such as Slim Jim. Conagra Brands 2026 Future of Snacking Report Reuters report on AI and snack choices
• Neutral Sentiment: The company is scheduled to report its fiscal first-quarter results before the market opens on Sept. 30. Investors will focus on whether new product demand and pricing can offset broader pressure on consumer spending and food costs. Conagra first-quarter earnings outlook
• Negative Sentiment: Zacks expects Conagra’s upcoming first-quarter earnings to decline and says the company lacks the combination of earnings and estimate-revision trends typically associated with a likely earnings beat. That raises the risk of disappointing results or cautious guidance. Zacks Conagra earnings preview
• Negative Sentiment: Brokerages have assigned Conagra a consensus “Reduce” recommendation, reinforcing concerns about near-term fundamentals and limiting the benefit from the company’s favorable long-term snacking trends. Conagra consensus recommendation

Conagra Brands Trading Up 0.0%

Shares of Conagra Brands stock opened at $14.78 on Thursday. 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 company has a fifty day simple moving average of $15.28 and a 200-day simple moving average of $14.72. The stock has a market cap of $7.07 billion, a price-to-earnings ratio of -3.70 and a beta of -0.01. Conagra Brands has a 12-month low of $12.53 and a 12-month high of $20.32.

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

Conagra Brands Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Thursday, July 30th were paid a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date was Thursday, July 30th. Conagra Brands's dividend payout ratio (DPR) is currently -17.50%.

About Conagra Brands

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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