Teachers Retirement System of The State of Kentucky Reduces Holdings in Conagra Brands, Inc. (NYSE:CAG)

Teachers Retirement System of The State of Kentucky cut its stake in shares of Conagra Brands, Inc. (NYSE:CAGGet Rating) by 4.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,945 shares of the company’s stock after selling 1,477 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Conagra Brands were worth $1,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Bank of America Corp DE boosted its holdings in Conagra Brands by 4.4% during the 1st quarter. Bank of America Corp DE now owns 5,085,658 shares of the company’s stock valued at $170,726,000 after acquiring an additional 215,014 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Conagra Brands by 27.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 46,780 shares of the company’s stock worth $1,570,000 after buying an additional 10,003 shares during the period. Gradient Investments LLC lifted its holdings in Conagra Brands by 27.1% in the 1st quarter. Gradient Investments LLC now owns 2,626 shares of the company’s stock worth $88,000 after buying an additional 560 shares during the period. Fortitude Advisory Group L.L.C. lifted its holdings in Conagra Brands by 11.5% in the 1st quarter. Fortitude Advisory Group L.L.C. now owns 7,967 shares of the company’s stock worth $268,000 after buying an additional 821 shares during the period. Finally, M Holdings Securities Inc. purchased a new stake in Conagra Brands in the 1st quarter worth approximately $404,000. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Stock Up 1.3 %

CAG stock opened at $34.76 on Friday. Conagra Brands, Inc. has a twelve month low of $30.06 and a twelve month high of $36.97. The company has a quick ratio of 0.31, a current ratio of 0.86 and a debt-to-equity ratio of 0.91. The firm has a market cap of $16.69 billion, a PE ratio of 18.89, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57. The business has a 50 day moving average of $34.33 and a 200 day moving average of $33.92.

Conagra Brands (NYSE:CAGGet Rating) last posted its quarterly earnings data on Thursday, July 14th. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. Conagra Brands had a return on equity of 12.99% and a net margin of 7.70%. The company had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same quarter last year, the company earned $0.54 EPS. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, research analysts forecast that Conagra Brands, Inc. will post 2.41 EPS for the current fiscal year.

Conagra Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Wednesday, August 3rd were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date was Tuesday, August 2nd. This is a positive change from Conagra Brands’s previous quarterly dividend of $0.31. Conagra Brands’s dividend payout ratio (DPR) is 71.74%.

Insiders Place Their Bets

In other Conagra Brands news, COO Thomas M. Mcgough sold 21,405 shares of Conagra Brands stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $35.40, for a total value of $757,737.00. Following the completion of the sale, the chief operating officer now owns 104,859 shares of the company’s stock, valued at approximately $3,712,008.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Conagra Brands news, COO Thomas M. Mcgough sold 21,405 shares of Conagra Brands stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $35.40, for a total value of $757,737.00. Following the completion of the sale, the chief operating officer now owns 104,859 shares of the company’s stock, valued at approximately $3,712,008.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Emanuel Chirico bought 30,000 shares of Conagra Brands stock in a transaction on Monday, July 25th. The stock was acquired at an average cost of $34.06 per share, with a total value of $1,021,800.00. Following the acquisition, the director now owns 40,788 shares in the company, valued at approximately $1,389,239.28. The disclosure for this purchase can be found here. Corporate insiders own 0.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CAG shares. Citigroup dropped their price objective on Conagra Brands from $37.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, July 15th. UBS Group increased their price objective on Conagra Brands from $34.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday, July 8th. Credit Suisse Group dropped their price objective on Conagra Brands from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, July 15th. Deutsche Bank Aktiengesellschaft lowered their target price on Conagra Brands from $35.00 to $32.00 in a research note on Friday, July 15th. Finally, Morgan Stanley lowered their target price on Conagra Brands from $36.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday, July 15th. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Conagra Brands currently has a consensus rating of “Hold” and an average target price of $35.67.

Conagra Brands Company Profile

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Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company in North America. The company operates in four segments: Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels in the United States.

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Institutional Ownership by Quarter for Conagra Brands (NYSE:CAG)

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