Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems decreased its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 7.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,373 shares of the company’s stock after selling 2,652 shares during the quarter. Kentucky Retirement Systems’ holdings in Conagra Brands were worth $1,085,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new stake in Conagra Brands during the second quarter worth $25,000. Chilton Capital Management LLC acquired a new stake in Conagra Brands during the second quarter worth $25,000. Hexagon Capital Partners LLC increased its stake in Conagra Brands by 82.8% during the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after acquiring an additional 420 shares during the last quarter. LRI Investments LLC acquired a new stake in Conagra Brands during the first quarter worth $42,000. Finally, Abich Financial Wealth Management LLC acquired a new stake in shares of Conagra Brands in the third quarter valued at $47,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Stock Down 0.5 %

Shares of NYSE CAG opened at $26.49 on Wednesday. The company has a market capitalization of $12.64 billion, a price-to-earnings ratio of 25.72, a price-to-earnings-growth ratio of 2.75 and a beta of 0.34. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33. The business has a 50-day moving average of $29.95 and a two-hundred day moving average of $29.97. Conagra Brands, Inc. has a 1 year low of $26.21 and a 1 year high of $33.24.

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 business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.84 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The firm’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period last year, the firm earned $0.66 earnings per share. On average, analysts forecast that Conagra Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 5.29%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands’s dividend payout ratio (DPR) is 135.92%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group assumed coverage on Conagra Brands in a research note on Monday, August 12th. They issued a “buy” rating and a $36.00 price objective for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a research note on Thursday, October 3rd. Bank of America lowered their target price on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research note on Thursday, October 3rd. BNP Paribas raised Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Finally, Wells Fargo & Company boosted their target price on Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Six equities research 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 MarketBeat.com, Conagra Brands currently has an average rating of “Hold” and a consensus price target of $31.63.

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.