Teachers Retirement System of The State of Kentucky Has $1.16 Million Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Teachers Retirement System of The State of Kentucky cut its position in Conagra Brands, Inc. (NYSE:CAG) by 5.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,816 shares of the company’s stock after selling 2,144 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Conagra Brands were worth $1,164,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Innealta Capital LLC acquired a new stake in shares of Conagra Brands in the second quarter valued at about $25,000. Chilton Capital Management LLC bought a new stake in Conagra Brands during the 2nd quarter valued at approximately $25,000. Hexagon Capital Partners LLC grew its holdings in Conagra Brands by 82.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock valued at $30,000 after buying an additional 420 shares during the last quarter. Abich Financial Wealth Management LLC bought a new position in Conagra Brands in the 3rd quarter worth approximately $47,000. Finally, Kennebec Savings Bank bought a new position in Conagra Brands in the 3rd quarter worth approximately $59,000. Institutional investors own 83.75% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CAG shares. Citigroup reduced their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. Royal Bank of Canada restated a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a research report on Thursday, October 3rd. Bank of America cut their price objective on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research report on Thursday, October 3rd. Wells Fargo & Company reduced their target price on shares of Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, BNP Paribas raised Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $31.38.

Conagra Brands Stock Performance

NYSE:CAG opened at $27.37 on Thursday. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86. The firm has a 50-day moving average price of $28.31 and a 200 day moving average price of $29.55. The firm has a market capitalization of $13.06 billion, a PE ratio of 26.57, a price-to-earnings-growth ratio of 2.91 and a beta of 0.31. Conagra Brands, Inc. has a 12-month low of $26.21 and a 12-month high of $33.24.

Conagra Brands (NYSE:CAG) last issued its 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 company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.84 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The company’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.66 earnings per share. Research analysts anticipate that Conagra Brands, Inc. will post 2.58 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be paid a $0.35 dividend. The ex-dividend date is Monday, January 27th. This represents a $1.40 annualized dividend and a dividend yield of 5.12%. Conagra Brands’s dividend payout ratio is presently 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.