Sumitomo Mitsui Trust Group Inc. Grows Stake in Conagra Brands $CAG

Sumitomo Mitsui Trust Group Inc. raised its stake in Conagra Brands (NYSE:CAG) by 8.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,416,807 shares of the company’s stock after purchasing an additional 114,222 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Conagra Brands were worth $29,002,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CAG. MJT & Associates Financial Advisory Group Inc. purchased a new position in Conagra Brands in the first quarter valued at about $27,000. Golden State Wealth Management LLC raised its position in Conagra Brands by 235.2% in the first quarter. Golden State Wealth Management LLC now owns 1,056 shares of the company’s stock valued at $28,000 after purchasing an additional 741 shares during the period. Wayfinding Financial LLC purchased a new position in Conagra Brands in the first quarter valued at about $34,000. ST Germain D J Co. Inc. raised its position in Conagra Brands by 130.8% in the second quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company’s stock valued at $41,000 after purchasing an additional 1,129 shares during the period. Finally, Trust Co. of Toledo NA OH purchased a new position in Conagra Brands in the second quarter valued at about $41,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on CAG shares. Wells Fargo & Company lifted their target price on Conagra Brands from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 2nd. Sanford C. Bernstein set a $21.00 target price on Conagra Brands and gave the stock a “market perform” rating in a research report on Friday, July 11th. UBS Group dropped their target price on Conagra Brands from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 24th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $22.00 target price on shares of Conagra Brands in a research report on Thursday, October 2nd. Finally, JPMorgan Chase & Co. started coverage on Conagra Brands in a research report on Wednesday, August 20th. They set a “neutral” rating and a $20.00 target price on the stock. One research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $21.92.

Conagra Brands Stock Down 2.4%

NYSE:CAG opened at $18.07 on Wednesday. The company has a market capitalization of $8.64 billion, a price-to-earnings ratio of 10.26, a price-to-earnings-growth ratio of 1.75 and a beta of 0.03. Conagra Brands has a one year low of $17.89 and a one year high of $29.85. The stock has a 50-day simple moving average of $18.78 and a 200 day simple moving average of $20.65. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.44 and a current ratio of 1.06.

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

Conagra Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, October 30th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 7.7%. The ex-dividend date is Thursday, October 30th. Conagra Brands’s dividend payout ratio (DPR) is 79.55%.

Conagra Brands Company Profile

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.