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

Bank of New York Mellon Corp reduced its stake in shares of Conagra Brands (NYSE:CAG) by 2.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 5,004,154 shares of the company’s stock after selling 115,080 shares during the period. Bank of New York Mellon Corp’s holdings in Conagra Brands were worth $102,435,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Quaker Wealth Management LLC increased its position in shares of Conagra Brands by 202.3% during the second quarter. Quaker Wealth Management LLC now owns 1,227 shares of the company’s stock worth $25,000 after acquiring an additional 2,427 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. acquired a new position in Conagra Brands in the 1st quarter worth $27,000. ST Germain D J Co. Inc. boosted its stake in Conagra Brands by 130.8% in 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 period. Trust Co. of Toledo NA OH bought a new position in Conagra Brands during the 2nd quarter worth about $41,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Conagra Brands in the 1st quarter valued at about $45,000. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Trading Up 2.5%

NYSE CAG opened at $17.12 on Friday. Conagra Brands has a 12 month low of $16.60 and a 12 month high of $28.69. The company has a current ratio of 1.06, a quick ratio of 0.44 and a debt-to-equity ratio of 0.81. The stock has a 50 day moving average of $18.46 and a 200-day moving average of $20.22. The company has a market cap of $8.19 billion, a PE ratio of 9.72, a PEG ratio of 1.65 and a beta of 0.03.

Conagra Brands (NYSE:CAG) last issued its earnings results on Wednesday, October 1st. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.06. The business had revenue of $2.63 billion for 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 firm’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.53 earnings per share. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. On average, equities research analysts anticipate that Conagra Brands will post 2.35 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 8.2%. The ex-dividend date is Thursday, October 30th. Conagra Brands’s dividend payout ratio (DPR) is 79.55%.

Analyst Upgrades and Downgrades

CAG has been the topic of a number of research reports. Morgan Stanley boosted their price target on Conagra Brands from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Wednesday, September 24th. UBS Group cut their price objective on shares of 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 issued a $22.00 target price on shares of Conagra Brands in a research report on Thursday, October 2nd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Conagra Brands in a research note on Wednesday, October 8th. Finally, Zacks Research raised shares of Conagra Brands from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 2nd. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $21.92.

Insider Buying and Selling

In related 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.57% of the company’s stock.

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.