Public Employees Retirement Association of Colorado Has $15.28 Million Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Public Employees Retirement Association of Colorado raised its holdings in Conagra Brands, Inc. (NYSE:CAG) by 18.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 515,659 shares of the company’s stock after buying an additional 78,961 shares during the quarter. Public Employees Retirement Association of Colorado owned 0.11% of Conagra Brands worth $15,284,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CAG. LRI Investments LLC acquired a new position in shares of Conagra Brands during the 1st quarter valued at $44,000. 1832 Asset Management L.P. raised its holdings in shares of Conagra Brands by 1.3% during the first quarter. 1832 Asset Management L.P. now owns 63,584 shares of the company’s stock valued at $1,885,000 after purchasing an additional 844 shares during the period. Truvestments Capital LLC boosted its position in shares of Conagra Brands by 15.7% during the 1st quarter. Truvestments Capital LLC now owns 12,799 shares of the company’s stock worth $379,000 after purchasing an additional 1,741 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Conagra Brands by 6.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 881,694 shares of the company’s stock valued at $26,133,000 after buying an additional 55,692 shares during the period. Finally, JT Stratford LLC increased its position in Conagra Brands by 33.4% in the 1st quarter. JT Stratford LLC now owns 10,780 shares of the company’s stock valued at $320,000 after buying an additional 2,700 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CAG. Barclays cut their price target on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Stifel Nicolaus reduced their price target on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Friday, July 12th. Evercore ISI decreased their price target on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Citigroup dropped their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Friday, June 28th. Finally, Wells Fargo & Company decreased their target price on shares of Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $31.18.

Insider Activity

In other news, EVP Charisse Brock sold 15,444 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $30.37, for a total transaction of $469,034.28. Following the completion of the transaction, the executive vice president now owns 113,254 shares in the company, valued at approximately $3,439,523.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.88% of the company’s stock.

Conagra Brands Stock Up 0.7 %

Conagra Brands stock opened at $30.16 on Tuesday. Conagra Brands, Inc. has a fifty-two week low of $25.16 and a fifty-two week high of $33.23. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.33 and a current ratio of 0.97. The firm’s 50-day simple moving average is $29.20 and its 200 day simple moving average is $29.28. The stock has a market cap of $14.42 billion, a PE ratio of 41.32, a price-to-earnings-growth ratio of 2.62 and a beta of 0.32.

Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, July 11th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The firm had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.93 billion. Conagra Brands had a return on equity of 14.31% and a net margin of 2.88%. The company’s revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.62 EPS. Research analysts predict that Conagra Brands, Inc. will post 2.61 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Thursday, August 1st will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date is Thursday, August 1st. Conagra Brands’s dividend payout ratio (DPR) is currently 191.78%.

About Conagra Brands

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.