Conagra Brands, Inc. (NYSE:CAG) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 14.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 342,976 shares of the company’s stock after selling 59,373 shares during the period. New York State Common Retirement Fund owned approximately 0.07% of Conagra Brands worth $9,830,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Naples Money Management LLC bought a new stake in shares of Conagra Brands during the 4th quarter worth $26,000. Thompson Investment Management Inc. boosted its position in shares of Conagra Brands by 100.0% in the 3rd quarter. Thompson Investment Management Inc. now owns 1,000 shares of the company’s stock valued at $27,000 after purchasing an additional 500 shares during the period. Authentikos Wealth Advisory LLC purchased a new position in Conagra Brands in the 3rd quarter worth about $33,000. Quent Capital LLC raised its holdings in Conagra Brands by 313.4% during the 4th quarter. Quent Capital LLC now owns 1,666 shares of the company’s stock worth $48,000 after buying an additional 1,263 shares during the period. Finally, Peoples Bank KS acquired a new position in shares of Conagra Brands in the third quarter worth about $47,000. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Trading Down 0.2 %

Conagra Brands stock opened at $30.73 on Thursday. Conagra Brands, Inc. has a one year low of $25.16 and a one year high of $38.73. The company’s fifty day moving average price is $29.35 and its two-hundred day moving average price is $28.74. The company has a market capitalization of $14.69 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 3.11 and a beta of 0.42. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.95 and a quick ratio of 0.33.

Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, April 4th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.05. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. The firm had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same period in the previous year, the company earned $0.76 EPS. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. On average, analysts forecast that Conagra Brands, Inc. will post 2.62 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Tuesday, April 30th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date of this dividend is Monday, April 29th. Conagra Brands’s dividend payout ratio (DPR) is 70.35%.

Analyst Ratings Changes

A number of research firms have recently issued reports on CAG. Stifel Nicolaus boosted their price target on shares of Conagra Brands from $29.00 to $32.00 and gave the company a “hold” rating in a report on Friday, April 5th. Royal Bank of Canada reduced their target price on Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating for the company in a report on Wednesday, January 3rd. Citigroup lifted their price target on Conagra Brands from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Barclays increased their price objective on Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Finally, Wells Fargo & Company lifted their target price on Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, April 5th. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Conagra Brands currently has an average rating of “Hold” and an average price target of $33.14.

About Conagra Brands

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.