Glenmede Trust Co. NA Has $316,000 Holdings in Conagra Brands $CAG

Glenmede Trust Co. NA lowered its stake in shares of Conagra Brands (NYSE:CAG) by 92.9% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 20,112 shares of the company’s stock after selling 263,100 shares during the period. Glenmede Trust Co. NA’s holdings in Conagra Brands were worth $316,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. NewEdge Advisors LLC raised its stake in Conagra Brands by 4.2% during the first quarter. NewEdge Advisors LLC now owns 23,541 shares of the company’s stock worth $628,000 after acquiring an additional 954 shares in the last quarter. United Services Automobile Association acquired a new position in Conagra Brands during the 1st quarter worth about $225,000. Empowered Funds LLC grew its holdings in Conagra Brands by 5.9% during the 1st quarter. Empowered Funds LLC now owns 36,356 shares of the company’s stock worth $970,000 after acquiring an additional 2,038 shares during the last quarter. Woodline Partners LP grew its holdings in Conagra Brands by 40.7% during the 1st quarter. Woodline Partners LP now owns 40,326 shares of the company’s stock worth $1,075,000 after acquiring an additional 11,664 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its position in Conagra Brands by 3.9% in the 2nd quarter. Gamco Investors INC. ET AL now owns 50,450 shares of the company’s stock valued at $1,033,000 after acquiring an additional 1,900 shares in the last quarter. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Performance

Conagra Brands stock opened at $15.09 on Monday. The company has a market cap of $7.22 billion, a PE ratio of -3.77 and a beta of -0.03. The company has a current ratio of 0.90, a quick ratio of 0.31 and a debt-to-equity ratio of 1.02. Conagra Brands has a 1 year low of $12.53 and a 1 year high of $20.32. The company’s 50-day moving average is $14.01 and its two-hundred day moving average is $15.48.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Wednesday, July 15th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.46 by $0.01. The company had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.89 billion. Conagra Brands had a negative net margin of 16.99% and a positive return on equity of 10.44%. Conagra Brands’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.56 EPS. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. Equities analysts anticipate that Conagra Brands will post 1.45 earnings per share for the current year.

Conagra Brands Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Thursday, July 30th will be issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Thursday, July 30th. Conagra Brands’s payout ratio is currently -17.50%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CAG. Morgan Stanley dropped their target price on shares of Conagra Brands from $15.00 to $13.00 and set an “equal weight” rating for the company in a research note on Friday, June 5th. Wells Fargo & Company lowered their price target on shares of Conagra Brands from $14.00 to $13.00 and set an “underweight” rating for the company in a report on Monday, May 18th. Zacks Research cut shares of Conagra Brands from a “hold” rating to a “strong sell” rating in a research report on Monday, May 11th. BNP Paribas Exane reduced their price objective on Conagra Brands from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, May 21st. Finally, Evercore decreased their price objective on Conagra Brands from $18.00 to $13.00 in a research report on Wednesday, June 10th. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and six have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $14.07.

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.