Teachers Retirement System of The State of Kentucky Lowers Position 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% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,945 shares of the company’s stock after selling 1,477 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Conagra Brands were worth $1,140,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Hazlett Burt & Watson Inc. purchased a new position in shares of Conagra Brands in the first quarter valued at about $31,000. Clearstead Advisors LLC lifted its position in shares of Conagra Brands by 60.1% in the first quarter. Clearstead Advisors LLC now owns 996 shares of the company’s stock valued at $33,000 after acquiring an additional 374 shares in the last quarter. Fieldpoint Private Securities LLC lifted its position in shares of Conagra Brands by 238.6% in the first quarter. Fieldpoint Private Securities LLC now owns 1,080 shares of the company’s stock valued at $36,000 after acquiring an additional 761 shares in the last quarter. Lindbrook Capital LLC lifted its position in shares of Conagra Brands by 41.3% in the first quarter. Lindbrook Capital LLC now owns 1,198 shares of the company’s stock valued at $40,000 after acquiring an additional 350 shares in the last quarter. Finally, MCF Advisors LLC purchased a new position in shares of Conagra Brands in the first quarter valued at about $52,000. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Trading Up 1.3 %

Shares of NYSE CAG opened at $34.76 on Friday. The business’s 50 day moving average is $34.33 and its two-hundred day moving average is $33.92. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.86 and a quick ratio of 0.31. Conagra Brands, Inc. has a 1-year low of $30.06 and a 1-year high of $36.97. The stock has a market capitalization of $16.69 billion, a P/E ratio of 18.89, a PEG ratio of 2.01 and a beta of 0.57.

Conagra Brands (NYSE:CAGGet Rating) last issued its quarterly earnings data on Thursday, July 14th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $2.93 billion. During the same period in the previous year, the firm posted $0.54 earnings per share. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, research analysts expect that Conagra Brands, Inc. will post 2.41 EPS for the current year.

Conagra Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Wednesday, August 3rd were paid a dividend of $0.33 per share. This is a boost from Conagra Brands’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Tuesday, August 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.80%. Conagra Brands’s dividend payout ratio is currently 71.74%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Morgan Stanley lowered their price objective on Conagra Brands from $36.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Friday, July 15th. Citigroup reduced their target price on Conagra Brands from $37.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, July 15th. UBS Group lifted their target price 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 reduced their target price on Conagra Brands from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, July 15th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Conagra Brands from $35.00 to $32.00 in a report on Friday, July 15th. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Conagra Brands currently has an average rating of “Hold” and a consensus price target of $35.67.

Insider Activity

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

About Conagra Brands

(Get Rating)

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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