Kentucky Retirement Systems Decreases Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Kentucky Retirement Systems lessened its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 5.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 36,301 shares of the company’s stock after selling 1,942 shares during the period. Kentucky Retirement Systems’ holdings in Conagra Brands were worth $1,076,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Teacher Retirement System of Texas increased its stake in Conagra Brands by 316.6% in the fourth quarter. Teacher Retirement System of Texas now owns 154,013 shares of the company’s stock worth $4,414,000 after purchasing an additional 117,042 shares during the period. Valley Wealth Managers Inc. increased its stake in Conagra Brands by 7.7% in the fourth quarter. Valley Wealth Managers Inc. now owns 517,792 shares of the company’s stock worth $14,840,000 after purchasing an additional 37,149 shares during the period. Bessemer Group Inc. increased its stake in Conagra Brands by 237.9% in the first quarter. Bessemer Group Inc. now owns 76,971 shares of the company’s stock worth $2,281,000 after purchasing an additional 54,195 shares during the period. Stifel Financial Corp increased its stake in Conagra Brands by 12.2% in the fourth quarter. Stifel Financial Corp now owns 815,947 shares of the company’s stock worth $23,385,000 after purchasing an additional 88,576 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its stake in Conagra Brands by 60.0% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 71,374 shares of the company’s stock worth $2,046,000 after purchasing an additional 26,774 shares during the period. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Insider Transactions at Conagra Brands

In other news, EVP Charisse Brock sold 15,444 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 113,254 shares in the company, valued at $3,439,523.98. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CAG shares. Citigroup reduced their target price on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Friday, June 28th. Barclays reduced their target price on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Evercore ISI cut their price target on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Wells Fargo & Company cut their price target on Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Finally, Royal Bank of Canada cut their price target on Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.18.

Conagra Brands Stock Up 0.4 %

NYSE CAG traded up $0.12 during trading on Monday, hitting $30.06. The company’s stock had a trading volume of 797,032 shares, compared to its average volume of 4,672,505. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.97 and a quick ratio of 0.33. The company has a market cap of $14.37 billion, a PE ratio of 41.01, a P/E/G ratio of 2.62 and a beta of 0.32. The business’s 50 day simple moving average is $29.21 and its 200-day simple moving average is $29.27. Conagra Brands, Inc. has a fifty-two week low of $25.16 and a fifty-two week high of $33.23.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, July 11th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.04. Conagra Brands had a return on equity of 14.31% and a net margin of 2.88%. The firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same period last year, the business posted $0.62 earnings per share. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, equities analysts anticipate that Conagra Brands, Inc. will post 2.61 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 1st will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.66%. The ex-dividend date of this dividend is Thursday, August 1st. Conagra Brands’s payout ratio is 191.78%.

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.