Bank of New York Mellon Corp Sells 115,080 Shares of Conagra Brands $CAG

Bank of New York Mellon Corp decreased its position in shares of Conagra Brands (NYSE:CAG) by 2.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,004,154 shares of the company’s stock after selling 115,080 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.05% of Conagra Brands worth $102,435,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of Conagra Brands during the first quarter worth $27,000. Quaker Wealth Management LLC boosted its holdings in Conagra Brands by 202.3% in the second quarter. Quaker Wealth Management LLC now owns 1,227 shares of the company’s stock valued at $25,000 after acquiring an additional 2,427 shares during the last quarter. Summit Securities Group LLC acquired a new stake in Conagra Brands in the first quarter worth about $45,000. ST Germain D J Co. Inc. raised its holdings in Conagra Brands by 130.8% during the 2nd quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company’s stock worth $41,000 after purchasing an additional 1,129 shares during the last quarter. Finally, Trust Co. of Toledo NA OH bought a new stake in Conagra Brands during the 2nd quarter worth about $41,000. 83.75% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Conagra Brands news, SVP Melissa C. Napier sold 13,011 shares of Conagra Brands stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $17.19, for a total transaction of $223,659.09. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CAG. Sanford C. Bernstein set a $21.00 target price on shares of Conagra Brands and gave the company a “market perform” rating in a research note on Friday, July 11th. Evercore ISI dropped their price target on shares of Conagra Brands from $24.00 to $23.00 and set an “in-line” rating for the company in a research note on Wednesday, September 24th. Stifel Nicolaus reduced their price objective on shares of Conagra Brands from $26.00 to $21.00 and set a “hold” rating on the stock in a research note on Friday, July 11th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $22.00 target price on shares of Conagra Brands in a report on Thursday, October 2nd. Finally, UBS Group dropped their target price on shares of Conagra Brands from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, September 24th. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $21.92.

Conagra Brands Stock Performance

Shares of NYSE:CAG opened at $17.12 on Friday. The firm’s 50 day simple moving average is $18.46 and its 200 day simple moving average is $20.22. Conagra Brands has a fifty-two week low of $16.60 and a fifty-two week high of $28.69. The company has a market capitalization of $8.19 billion, a price-to-earnings ratio of 9.72, a P/E/G ratio of 1.65 and a beta of 0.03. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.06 and a quick ratio of 0.44.

Conagra Brands (NYSE:CAG) last issued its earnings results on Wednesday, October 1st. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.33 by $0.06. The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.62 billion. Conagra Brands had a net margin of 7.42% and a return on equity of 11.72%. The business’s quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 earnings per share. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. As a group, sell-side analysts forecast that Conagra Brands will post 2.35 earnings per share for the current year.

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, October 30th will be given a $0.35 dividend. The ex-dividend date is Thursday, October 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 8.2%. Conagra Brands’s dividend payout ratio 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.