Teachers Retirement System of The State of Kentucky Sells 1,855 Shares of Conagra Brands, Inc. (NYSE:CAG)

Teachers Retirement System of The State of Kentucky cut its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 4.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,097 shares of the company’s stock after selling 1,855 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Conagra Brands were worth $1,178,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Naples Money Management LLC bought a new stake in shares of Conagra Brands in the fourth quarter valued at about $26,000. First United Bank & Trust purchased a new stake in shares of Conagra Brands in the 4th quarter worth approximately $26,000. Advantage Trust Co bought a new position in shares of Conagra Brands during the fourth quarter valued at approximately $34,000. Parkside Financial Bank & Trust increased its holdings in Conagra Brands by 48.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the company’s stock valued at $40,000 after buying an additional 454 shares during the period. Finally, Bogart Wealth LLC raised its stake in Conagra Brands by 143.3% in the fourth quarter. Bogart Wealth LLC now owns 1,550 shares of the company’s stock worth $44,000 after buying an additional 913 shares in the last quarter. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Conagra Brands

In other news, EVP Charisse Brock sold 15,444 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $30.37, for a total transaction of $469,034.28. Following the sale, the executive vice president now owns 113,254 shares of the company’s stock, valued at approximately $3,439,523.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.88% of the stock is owned by company insiders.

Conagra Brands Trading Up 1.1 %

Conagra Brands stock opened at $28.82 on Monday. The stock has a 50-day moving average price of $30.13 and a 200 day moving average price of $29.30. The company has a market capitalization of $13.78 billion, a price-to-earnings ratio of 14.48, a price-to-earnings-growth ratio of 2.79 and a beta of 0.32. Conagra Brands, Inc. has a 52 week low of $25.16 and a 52 week high of $34.65. The company has a quick ratio of 0.33, a current ratio of 0.95 and a debt-to-equity ratio of 0.81.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, April 4th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.64 by $0.05. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The business had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same period in the previous year, the business posted $0.76 EPS. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. Sell-side analysts anticipate that Conagra Brands, Inc. will post 2.62 EPS for the current year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Tuesday, April 30th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.86%. The ex-dividend date was Monday, April 29th. Conagra Brands’s dividend payout ratio (DPR) is 70.35%.

Wall Street Analysts Forecast Growth

CAG has been the topic of several recent research reports. Wells Fargo & Company increased their target price on Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, April 5th. Barclays raised their target price on shares of Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Stifel Nicolaus upped their price target on Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research report on Friday, April 5th. Finally, Citigroup raised their price objective on Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Conagra Brands presently has an average rating of “Hold” and a consensus price target of $33.14.

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.