Retirement Systems of Alabama Reduces Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Retirement Systems of Alabama reduced its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 103,335 shares of the company’s stock after selling 892 shares during the period. Retirement Systems of Alabama’s holdings in Conagra Brands were worth $2,868,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Courier Capital LLC increased its stake in shares of Conagra Brands by 1.3% during the third quarter. Courier Capital LLC now owns 27,062 shares of the company’s stock valued at $880,000 after purchasing an additional 355 shares in the last quarter. Empirical Finance LLC boosted its holdings in Conagra Brands by 2.3% in the third quarter. Empirical Finance LLC now owns 16,379 shares of the company’s stock worth $533,000 after purchasing an additional 362 shares during the last quarter. Arkadios Wealth Advisors boosted its stake in shares of Conagra Brands by 0.7% during the 3rd quarter. Arkadios Wealth Advisors now owns 52,769 shares of the company’s stock worth $1,716,000 after acquiring an additional 376 shares during the last quarter. Bridgewater Advisors Inc. boosted its stake 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 worth $820,000 after acquiring an additional 376 shares during the last quarter. Finally, Grove Bank & Trust raised its position in shares of Conagra Brands by 65.4% during 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 during the period. 83.75% of the stock is owned by institutional investors.

Conagra Brands Stock Performance

Shares of NYSE CAG opened at $24.90 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. The company has a market capitalization of $11.88 billion, a PE ratio of 24.41, a price-to-earnings-growth ratio of 1.70 and a beta of 0.28. Conagra Brands, Inc. has a 1 year low of $24.18 and a 1 year high of $33.24. The company’s fifty day moving average price is $26.60 and its 200 day moving average price is $28.82.

Conagra Brands (NYSE:CAG) last issued its earnings results on Thursday, December 19th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.71 earnings per share. On average, research analysts predict that Conagra Brands, Inc. will post 2.46 earnings per share for the current year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders 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 yield of 5.62%. The ex-dividend date of this dividend is Monday, January 27th. Conagra Brands’s dividend payout ratio (DPR) is presently 137.26%.

Analyst Ratings Changes

CAG has been the topic of several recent analyst reports. Wells Fargo & Company decreased their price objective on shares of Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. JPMorgan Chase & Co. dropped their price target on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Stifel Nicolaus lowered their price objective on shares of Conagra Brands from $30.00 to $28.00 and set a “hold” rating for the company in a research report on Friday, January 24th. Royal Bank of Canada restated a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a report on Friday, December 20th. Finally, Barclays reduced their price objective on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Seven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $30.33.

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.