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

Kentucky Retirement Systems decreased its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 1.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 32,920 shares of the company’s stock after selling 453 shares during the period. Kentucky Retirement Systems’ holdings in Conagra Brands were worth $914,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Empirical Finance LLC lifted its position in shares of Conagra Brands by 2.3% during the 3rd quarter. Empirical Finance LLC now owns 16,379 shares of the company’s stock valued at $533,000 after buying an additional 362 shares in the last quarter. Bridgewater Advisors Inc. lifted its position in shares of Conagra Brands by 1.5% during the 3rd quarter. Bridgewater Advisors Inc. now owns 25,224 shares of the company’s stock valued at $820,000 after buying an additional 376 shares in the last quarter. Grove Bank & Trust lifted its holdings in Conagra Brands by 65.4% in the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after purchasing an additional 447 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in Conagra Brands by 0.6% in the 4th quarter. CIBC Asset Management Inc now owns 84,534 shares of the company’s stock valued at $2,346,000 after purchasing an additional 501 shares in the last quarter. Finally, International Private Wealth Advisors LLC lifted its holdings in Conagra Brands by 5.2% in the 4th quarter. International Private Wealth Advisors LLC now owns 10,644 shares of the company’s stock valued at $295,000 after purchasing an additional 527 shares in the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Analysts Set New Price Targets

CAG has been the topic of a number of research reports. JPMorgan Chase & Co. decreased their price objective on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. The Goldman Sachs Group lowered Conagra Brands from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $33.00 to $26.00 in a report on Monday. Citigroup decreased their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, December 11th. Royal Bank of Canada restated a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a report on Friday, December 20th. Finally, Wells Fargo & Company decreased their price objective on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Eight investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $28.67.

Conagra Brands Stock Up 0.1 %

Shares of CAG opened at $25.83 on Tuesday. Conagra Brands, Inc. has a 52-week low of $23.06 and a 52-week high of $33.24. The company has a market capitalization of $12.33 billion, a PE ratio of 25.32, a price-to-earnings-growth ratio of 1.76 and a beta of 0.28. The stock has a fifty day simple moving average of $26.11 and a two-hundred day simple moving average of $28.49. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.02. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.15 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. Conagra Brands’s revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.71 EPS. As a group, equities analysts forecast that Conagra Brands, Inc. will post 2.35 EPS for the current year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Investors 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 annualized dividend and a yield of 5.42%. Conagra Brands’s dividend payout ratio (DPR) is currently 137.25%.

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.