Conagra Brands, Inc. (NYSE:CAG) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its position in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 17.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 367,594 shares of the company's stock after selling 79,274 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of Conagra Brands worth $11,954,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Trajan Wealth LLC grew its stake in shares of Conagra Brands by 3.5% during the third quarter. Trajan Wealth LLC now owns 145,878 shares of the company's stock valued at $4,744,000 after acquiring an additional 4,923 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new stake in shares of Conagra Brands during the third quarter valued at about $47,000. Farmers & Merchants Investments Inc. grew its stake in shares of Conagra Brands by 10.9% during the third quarter. Farmers & Merchants Investments Inc. now owns 12,213 shares of the company's stock valued at $397,000 after acquiring an additional 1,200 shares in the last quarter. J.W. Cole Advisors Inc. acquired a new stake in shares of Conagra Brands during the third quarter valued at about $209,000. Finally, State of Alaska Department of Revenue grew its stake in shares of Conagra Brands by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 55,624 shares of the company's stock valued at $1,808,000 after acquiring an additional 3,775 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Conagra Brands

In related news, COO Thomas M. Mcgough sold 40,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the transaction, the chief operating officer now owns 161,443 shares in the company, valued at $4,890,108.47. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.51% of the company's stock.

Conagra Brands Stock Performance

Shares of CAG traded up $0.03 during mid-day trading on Friday, reaching $28.97. 3,411,269 shares of the company's stock traded hands, compared to its average volume of 3,964,229. The business's 50-day moving average price is $30.92 and its 200-day moving average price is $30.23. The stock has a market capitalization of $13.83 billion, a P/E ratio of 28.13, a price-to-earnings-growth ratio of 2.98 and a beta of 0.34. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94. Conagra Brands, Inc. has a 12 month low of $26.62 and a 12 month high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last released its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share 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 the consensus estimate of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The business's quarterly revenue was down 3.8% on a year-over-year basis. During the same period last year, the firm posted $0.66 EPS. Equities analysts predict that Conagra Brands, Inc. will post 2.59 earnings per share for the current year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.83%. Conagra Brands's dividend payout ratio is presently 135.92%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CAG shares. The Goldman Sachs Group started coverage on Conagra Brands in a research note on Monday, August 12th. They set a "buy" rating and a $36.00 target price for the company. Barclays lowered their target price on Conagra Brands from $34.00 to $33.00 and set an "overweight" rating for the company in a research note on Friday, July 12th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $29.00 price target on shares of Conagra Brands in a research report on Thursday, October 3rd. Evercore ISI reduced their price target on shares of Conagra Brands from $32.00 to $31.00 and set a "neutral" rating on the stock in a research report on Friday, July 12th. Finally, BNP Paribas raised shares of Conagra Brands to a "strong-buy" rating in a research report on Thursday, October 3rd. Six analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Conagra Brands presently has an average rating of "Hold" and an average price target of $31.63.

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.