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First Citizens Bank & Trust 13F: Exits Conagra Brands (CAG) Stake

The bank sold its entire Conagra stake, totaling 506,353 shares, as of the latest filing.

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Reviewed by automated data checks against the source filing. How we make and check alerts

First Citizens Bank & Trust sold its entire stake of 506,353 shares in Conagra Brands, Inc. ($CAG), according to a 13F filing with the SEC dated October 14, 2026.

Since the filing, $CAG is up 4.5% to date (from the $13.84 close on Oct 14, 2026).

Find the original: First Citizens Bank & Trust 13F filings on SEC EDGAR

CAG Conagra Brands, Inc.
$14.47 -11.55% year to date
Daily close · Oct 16, 2026

Key Points

  • First Citizens Bank & Trust sold its entire position in Conagra Brands, exiting 506,353 shares as of its latest SEC filing.
  • Conagra Brands, Inc. has a market cap of $6.77 billion and a forward P/E ratio of 9.47.
  • The stock has a 52-week range between $12.53 and $20.32, with a current dividend yield of 4.94%.

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Not investment advice. EarningsIQ is not a registered investment adviser, and this automated Conagra Brands, Inc. alert may contain errors. Disclosures

First Citizens Bank & Trust has completely exited its position in Conagra Brands, Inc. (NYSE: CAG). According to the latest Form 13F filing with the SEC, the bank sold all 506,353 shares it previously held, reducing its stake to zero. This move reflects a 100% decrease from the prior holding.

13F track record

First Citizens Bank & Trust vs. the S&P 500

YTD return +4.17% hypothetical
All-time return +4.17% S&P 500 +4.11%
vs. S&P 500 +0.06% ahead of the index

Hypothetical returns from First Citizens Bank & Trust's disclosed trades, not real profit or advice. How we model this.

What Changed in First Citizens Bank & Trust's Conagra Brands Position

First Citizens Bank & Trust closed its position in Conagra Brands by selling 506,353 shares. This sale brought its stake down to zero from the previous count of 506,353 shares. The reported value of the stake was $0 as of the filing.

Conagra Brands, Inc. Stock Up 3.0%

Shares of Conagra Brands, Inc. were not priced at the time of this report. The company, trading on the NYSE under the ticker CAG, has a market capitalization of about $6.77 billion. Conagra's forward P/E ratio stands at 9.47, indicating the company's expected future earnings performance. The stock has experienced a 52-week low of $12.53 and a high of $20.32. Its 50-day moving average is $14.91, while the 200-day moving average is $15.43. The company also maintains a current ratio of 1.10 and a quick ratio of 0.34, with a debt-to-equity ratio of 121.16.

Recent Earnings

Conagra Brands reported revenue of approximately $11.24 billion, though it saw a slight decline of 1.4% in revenue growth. The company has a negative net margin of -16.95% and a return on equity of -24.89%. Earnings per share were reported at -$4.12. The next earnings announcement is scheduled for December 18, 2026.

Earnings drift grade

Outlook vs expectations on the last report — not price action.

D- 37/100

Reported Apr 1, 2026

  1. Forward outlook

    9 target cuts vs 0 raises.

  2. EPS & revenue

    EPS missed estimates by 3.6%. Revenue met estimates.

  3. Profit surprise

    EBITDA beat by 3 percent. Operating income beat by 8 percent.

  4. Pre-earnings setup

    Bar was low, analysts cautious going in.

  5. Analyst signal

    1 downgrade, 9 target cuts.

  6. Earnings quality

    Gross margin down 1.4 points. Operating margin up 0.7 points. Positive free cash flow.

Earnings Call Summary

The first quarter showed recovery in frozen meals and vegetables as supply chain issues cleared, with 44 percent of the portfolio holding or gaining volume share. Revenue came in flat year over year at 2.8 billion dollars. However, the company faces ongoing weak consumer sentiment and higher protein and tariff costs, which it expects to persist through the year. The company cut net debt by over 400 million dollars through divestitures.

Guidance Conagra reaffirmed its full year targets of 1.7 to 1.85 dollars per share and flat to 1 percent sales growth. The company expects low 7 percent inflation for the year, slightly higher than the original 7 percent forecast, but productivity gains should offset most of it.

Very weak report. The release materially worsened the forward outlook.

Dividend

Conagra Brands offers a dividend yield of 4.94%, with a dividend payout ratio of 79.55%. This makes it an attractive option for income-focused investors.

About Conagra Brands, Inc.

Conagra Brands, Inc. is a leading consumer packaged goods company based in Chicago, Illinois. It operates through four segments: Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice. The company is known for its well-recognized brands like Birds Eye, Duncan Hines, Healthy Choice, and Slim Jim. Conagra, which was founded in 1919, employs approximately 17,400 people and is led by CEO John P. Brase.

Bottom Line

First Citizens Bank & Trust's complete exit from Conagra Brands highlights a significant change in its investment strategy. Investors often track these filings to gauge institutional sentiment, though it's important to remember that 13F filings are backward-looking and may not reflect current positions.

Related Filing Alerts

Source: First Citizens Bank & Trust's 13F filing on $CAG (Oct 14, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Find the original filing: First Citizens Bank & Trust 13F filings on SEC EDGAR. Written by software, not financial advice. How we make alerts

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