New York State Common Retirement Fund reduced its stake in Conagra Brands, Inc. (NYSE:CAG – Free Report) by 16.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 402,349 shares of the company’s stock after selling 78,077 shares during the quarter. New York State Common Retirement Fund owned 0.08% of Conagra Brands worth $11,032,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the stock. Thrivent Financial for Lutherans grew its holdings in Conagra Brands by 1.1% in the third quarter. Thrivent Financial for Lutherans now owns 29,348 shares of the company’s stock valued at $958,000 after purchasing an additional 310 shares during the period. Fortitude Advisory Group L.L.C. grew its holdings in Conagra Brands by 4.0% in the second quarter. Fortitude Advisory Group L.L.C. now owns 8,760 shares of the company’s stock valued at $295,000 after purchasing an additional 338 shares during the period. Westchester Capital Management Inc. grew its holdings in Conagra Brands by 0.6% in the second quarter. Westchester Capital Management Inc. now owns 64,675 shares of the company’s stock valued at $2,181,000 after purchasing an additional 367 shares during the period. Equitable Holdings Inc. grew its holdings in Conagra Brands by 0.5% in the first quarter. Equitable Holdings Inc. now owns 81,085 shares of the company’s stock valued at $2,722,000 after purchasing an additional 373 shares during the period. Finally, Laurel Wealth Advisors Inc. grew its holdings in Conagra Brands by 2.9% in the first quarter. Laurel Wealth Advisors Inc. now owns 13,726 shares of the company’s stock valued at $461,000 after purchasing an additional 388 shares during the period. 84.27% of the stock is currently owned by institutional investors and hedge funds.
Conagra Brands Price Performance
Shares of NYSE CAG opened at $28.36 on Thursday. Conagra Brands, Inc. has a twelve month low of $25.16 and a twelve month high of $38.94. The company has a current ratio of 0.91, a quick ratio of 0.31 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $13.56 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 3.04 and a beta of 0.44. The firm has a 50-day moving average of $29.03 and a two-hundred day moving average of $28.98.
Conagra Brands Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 29th. Stockholders of record on Tuesday, January 30th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date of this dividend is Monday, January 29th. Conagra Brands’s dividend payout ratio (DPR) is 67.96%.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on CAG. Evercore ISI downgraded shares of Conagra Brands from an “outperform” rating to an “in-line” rating and set a $32.00 price objective for the company. in a research note on Monday, December 11th. Royal Bank of Canada decreased their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 3rd. Wells Fargo & Company began coverage on shares of Conagra Brands in a research note on Tuesday, December 12th. They set an “equal weight” rating and a $31.00 price objective for the company. Finally, Citigroup initiated coverage on shares of Conagra Brands in a research note on Thursday, February 1st. They set a “neutral” rating and a $30.00 price objective for the company. Twelve research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $32.87.
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.
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