California State Teachers Retirement System Decreases Holdings in Conagra Brands, Inc. (NYSE:CAG)

California State Teachers Retirement System lowered its stake in shares of Conagra Brands, Inc. (NYSE:CAGFree Report) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 711,689 shares of the company’s stock after selling 5,717 shares during the quarter. California State Teachers Retirement System owned approximately 0.15% of Conagra Brands worth $20,397,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Pacer Advisors Inc. increased its stake in shares of Conagra Brands by 188.3% during the 4th quarter. Pacer Advisors Inc. now owns 153,336 shares of the company’s stock worth $4,395,000 after purchasing an additional 100,141 shares during the last quarter. Teacher Retirement System of Texas lifted its position in shares of Conagra Brands by 316.6% during the 4th quarter. Teacher Retirement System of Texas now owns 154,013 shares of the company’s stock valued at $4,414,000 after buying an additional 117,042 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Conagra Brands by 120.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 859,656 shares of the company’s stock worth $23,572,000 after acquiring an additional 469,421 shares during the period. Valley Wealth Managers Inc. increased its holdings in Conagra Brands by 7.7% in the 4th quarter. Valley Wealth Managers Inc. now owns 517,792 shares of the company’s stock worth $14,840,000 after acquiring an additional 37,149 shares during the last quarter. Finally, Adams Asset Advisors LLC bought a new stake in Conagra Brands in the 4th quarter valued at about $7,690,000. Institutional investors own 83.75% of the company’s stock.

Insider Buying and Selling

In other Conagra Brands news, EVP Charisse Brock sold 15,444 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $30.37, for a total value of $469,034.28. Following the completion of the sale, the executive vice president now owns 113,254 shares in the company, valued at $3,439,523.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.88% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CAG shares. Barclays lifted their price objective on shares of Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Citigroup upped their target price on Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Wells Fargo & Company lifted their price target on Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, April 5th. Finally, Stifel Nicolaus upped their price objective on shares of Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research report on Friday, April 5th. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $33.14.

Get Our Latest Analysis on CAG

Conagra Brands Trading Down 0.8 %

CAG stock opened at $29.54 on Friday. Conagra Brands, Inc. has a one year low of $25.16 and a one year high of $35.10. The company has a market capitalization of $14.12 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 2.91 and a beta of 0.32. The company’s 50 day moving average price is $30.43 and its two-hundred day moving average price is $29.25. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.33 and a current ratio of 0.95.

Conagra Brands (NYSE:CAGGet Free Report) last issued its earnings results on Thursday, April 4th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The company had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter last year, the company earned $0.76 EPS. The firm’s revenue was down 1.7% compared to the same quarter last year. As a group, analysts predict that Conagra Brands, Inc. will post 2.62 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Tuesday, April 30th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.74%. The ex-dividend date of this dividend was Monday, April 29th. Conagra Brands’s dividend payout ratio is presently 70.35%.

Conagra Brands Profile

(Free Report)

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.

Further Reading

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

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