Conagra Brands $CAG Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. grew its holdings in shares of Conagra Brands (NYSE:CAG) by 63.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 245,174 shares of the company’s stock after buying an additional 95,269 shares during the period. PNC Financial Services Group Inc.’s holdings in Conagra Brands were worth $4,489,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Campbell & CO Investment Adviser LLC acquired a new stake in Conagra Brands during the 2nd quarter worth about $2,489,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Conagra Brands by 45.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 342,942 shares of the company’s stock worth $6,485,000 after buying an additional 106,891 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of Conagra Brands in the second quarter worth approximately $10,465,000. Hsbc Holdings PLC raised its holdings in shares of Conagra Brands by 20.0% during the second quarter. Hsbc Holdings PLC now owns 1,251,371 shares of the company’s stock valued at $25,578,000 after acquiring an additional 208,450 shares during the period. Finally, AE Wealth Management LLC lifted its position in shares of Conagra Brands by 13.7% in the 3rd quarter. AE Wealth Management LLC now owns 720,093 shares of the company’s stock valued at $13,185,000 after acquiring an additional 86,604 shares in the last quarter. 83.75% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Conagra Brands from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Tuesday. Evercore lowered their price target on Conagra Brands from $22.00 to $19.00 in a report on Friday, January 9th. Bank of America reduced their price objective on Conagra Brands from $18.00 to $17.00 and set an “underperform” rating for the company in a research note on Monday, December 22nd. Deutsche Bank Aktiengesellschaft lowered their target price on Conagra Brands from $19.00 to $18.00 and set a “hold” rating on the stock in a research note on Monday, December 22nd. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Conagra Brands in a report on Wednesday. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $19.07.

Conagra Brands Stock Performance

Shares of CAG stock opened at $18.45 on Friday. Conagra Brands has a fifty-two week low of $15.96 and a fifty-two week high of $28.51. The stock’s 50-day moving average is $17.89 and its two-hundred day moving average is $18.18. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.89 and a quick ratio of 0.28. The firm has a market cap of $8.82 billion, a P/E ratio of -83.85 and a beta of -0.01.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Friday, December 19th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.44 by $0.01. Conagra Brands had a positive return on equity of 10.59% and a negative net margin of 0.87%.The business had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same quarter in the previous year, the business posted $0.70 EPS. The firm’s quarterly revenue was down 6.8% compared to the same quarter last year. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. Analysts predict that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Tuesday, January 27th will be paid a dividend of $0.35 per share. The ex-dividend date is Tuesday, January 27th. This represents a $1.40 annualized dividend and a dividend yield of 7.6%. Conagra Brands’s dividend payout ratio is -636.36%.

About Conagra Brands

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.