Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 1.2% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 104,227 shares of the company’s stock after selling 1,231 shares during the period. Retirement Systems of Alabama’s holdings in Conagra Brands were worth $3,389,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. grew its holdings in Conagra Brands by 21,015.0% during the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock worth $346,495,000 after acquiring an additional 10,604,367 shares during the period. Two Sigma Advisers LP grew its stake in shares of Conagra Brands by 106.4% during the 3rd quarter. Two Sigma Advisers LP now owns 6,077,000 shares of the company’s stock worth $197,624,000 after purchasing an additional 3,133,200 shares during the period. Marshall Wace LLP increased its holdings in shares of Conagra Brands by 1,362.6% during the 2nd quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock valued at $68,400,000 after purchasing an additional 2,242,186 shares in the last quarter. Holocene Advisors LP acquired a new position in shares of Conagra Brands in the 3rd quarter valued at $65,932,000. Finally, Federated Hermes Inc. boosted its holdings in Conagra Brands by 20.5% during the second quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock worth $313,004,000 after buying an additional 1,871,238 shares in the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CAG. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Bank of America reduced their price target on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a report on Thursday, October 3rd. Wells Fargo & Company reduced their target price on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, Citigroup dropped their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 11th. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Conagra Brands has a consensus rating of “Hold” and an average target price of $31.38.

Conagra Brands Stock Performance

Shares of NYSE:CAG opened at $26.81 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33. Conagra Brands, Inc. has a 1 year low of $26.21 and a 1 year high of $33.24. The firm has a market capitalization of $12.80 billion, a PE ratio of 26.03, a P/E/G ratio of 2.91 and a beta of 0.31. The business’s 50 day moving average price is $28.26 and its 200-day moving average price is $29.54.

Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. The company had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.71 EPS. As a group, equities research analysts expect that Conagra Brands, Inc. will post 2.58 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be issued a $0.35 dividend. The ex-dividend date is Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a yield of 5.22%. Conagra Brands’s payout ratio is 135.92%.

Conagra Brands Company Profile

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.