Public Employees Retirement System of Ohio Sells 8,622 Shares of Conagra Brands, Inc. (NYSE:CAG)

Public Employees Retirement System of Ohio cut its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 4.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 173,080 shares of the company’s stock after selling 8,622 shares during the period. Public Employees Retirement System of Ohio’s holdings in Conagra Brands were worth $5,629,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CAG. State Street Corp increased its holdings in shares of Conagra Brands by 7.4% in the 3rd quarter. State Street Corp now owns 24,484,277 shares of the company’s stock worth $796,229,000 after buying an additional 1,691,945 shares during the last quarter. Federated Hermes Inc. increased its stake 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 acquiring an additional 1,871,238 shares during the last quarter. Pacer Advisors Inc. raised its position 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 valued at $346,495,000 after purchasing an additional 10,604,367 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Conagra Brands by 2.0% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 6,290,625 shares of the company’s stock valued at $204,571,000 after purchasing an additional 122,590 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its holdings in shares of Conagra Brands by 106.4% in 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. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Wall Street Analysts Forecast Growth

CAG has been the topic of several recent research reports. Citigroup decreased their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday. Wells Fargo & Company raised their target price on shares of Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating 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 research note on Thursday, October 3rd. Finally, Bank of America cut their target price on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, October 3rd. Six analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $31.50.

Conagra Brands Price Performance

Shares of CAG stock opened at $28.20 on Friday. The company has a market capitalization of $13.46 billion, a P/E ratio of 27.38, a P/E/G ratio of 2.86 and a beta of 0.31. The company’s 50-day simple moving average is $28.40 and its two-hundred day simple moving average is $29.59. Conagra Brands, Inc. has a one year low of $26.21 and a one year high of $33.24. 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 (NYSE:CAG) last announced its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 EPS. As a group, equities analysts anticipate that Conagra Brands, Inc. will post 2.58 EPS for the current year.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 4.96%. Conagra Brands’s dividend payout ratio is currently 135.92%.

Conagra Brands 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.