Public Employees Retirement System of Ohio Sells 6,136 Shares of Conagra Brands Inc (NYSE:CAG)

Public Employees Retirement System of Ohio decreased its stake in shares of Conagra Brands Inc (NYSE:CAG) by 3.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 189,280 shares of the company’s stock after selling 6,136 shares during the period. Public Employees Retirement System of Ohio’s holdings in Conagra Brands were worth $6,657,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CAG. Capital World Investors increased its holdings in Conagra Brands by 28.3% during the first quarter. Capital World Investors now owns 38,056,615 shares of the company’s stock valued at $1,116,581,000 after buying an additional 8,401,933 shares during the last quarter. Tobam increased its holdings in Conagra Brands by 83,817.5% during the second quarter. Tobam now owns 1,032,185 shares of the company’s stock valued at $36,302,000 after buying an additional 1,030,955 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Conagra Brands by 44.6% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,872,623 shares of the company’s stock valued at $101,030,000 after buying an additional 886,435 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Conagra Brands by 228.8% during the second quarter. Victory Capital Management Inc. now owns 1,007,925 shares of the company’s stock valued at $35,449,000 after buying an additional 701,401 shares during the last quarter. Finally, LSV Asset Management increased its holdings in Conagra Brands by 35.9% during the second quarter. LSV Asset Management now owns 2,552,815 shares of the company’s stock valued at $89,782,000 after buying an additional 674,737 shares during the last quarter. Institutional investors own 81.14% of the company’s stock.

A number of brokerages have commented on CAG. Morgan Stanley upped their target price on shares of Conagra Brands from $32.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, July 1st. Stifel Nicolaus increased their price objective on shares of Conagra Brands from $36.00 to $39.00 in a research note on Wednesday, July 1st. Zacks Investment Research raised shares of Conagra Brands from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research note on Tuesday, September 1st. Jefferies Financial Group reissued a “buy” rating and issued a $41.00 price objective on shares of Conagra Brands in a research note on Thursday, August 13th. Finally, Credit Suisse Group increased their price objective on shares of Conagra Brands from $36.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Conagra Brands has a consensus rating of “Hold” and an average price target of $35.94.

Shares of NYSE:CAG opened at $34.81 on Wednesday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.46 and a current ratio of 0.88. The firm has a fifty day moving average price of $37.36 and a 200 day moving average price of $33.63. Conagra Brands Inc has a fifty-two week low of $22.83 and a fifty-two week high of $39.34. The firm has a market cap of $16.89 billion, a price-to-earnings ratio of 20.10, a P/E/G ratio of 2.06 and a beta of 0.85.

Conagra Brands (NYSE:CAG) last issued its earnings results on Tuesday, June 30th. The company reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.09. Conagra Brands had a net margin of 7.60% and a return on equity of 14.38%. The firm had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the prior year, the business earned $0.36 earnings per share. Conagra Brands’s revenue for the quarter was up 25.8% on a year-over-year basis. As a group, research analysts predict that Conagra Brands Inc will post 2.39 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Tuesday, August 4th were given a dividend of $0.2125 per share. The ex-dividend date was Monday, August 3rd. This represents a $0.85 annualized dividend and a yield of 2.44%. Conagra Brands’s dividend payout ratio (DPR) is currently 37.28%.

In other Conagra Brands news, SVP Robert G. Wise sold 18,417 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $35.48, for a total transaction of $653,435.16. Following the completion of the transaction, the senior vice president now owns 32,712 shares in the company, valued at $1,160,621.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joie A. Gregor sold 9,900 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $35.61, for a total transaction of $352,539.00. Insiders have sold 283,807 shares of company stock valued at $10,323,940 in the last quarter. 2.60% of the stock is owned by company insiders.

Conagra Brands Profile

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

Further Reading: What is an investor looking for in an SEC filing?

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

Receive News & Ratings for Conagra Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Conagra Brands and related companies with MarketBeat.com's FREE daily email newsletter.