Retirement Systems of Alabama cut its holdings in Conagra Brands, Inc. (NYSE:CAG – Get Rating) by 3.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 153,535 shares of the company’s stock after selling 5,928 shares during the quarter. Retirement Systems of Alabama’s holdings in Conagra Brands were worth $5,942,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the business. Ronald Blue Trust Inc. raised its stake in shares of Conagra Brands by 117.5% during the 4th quarter. Ronald Blue Trust Inc. now owns 1,031 shares of the company’s stock worth $34,000 after purchasing an additional 557 shares in the last quarter. Quent Capital LLC raised its stake in Conagra Brands by 410.5% in the 4th quarter. Quent Capital LLC now owns 970 shares of the company’s stock valued at $38,000 after acquiring an additional 780 shares during the period. MinichMacGregor Wealth Management LLC bought a new stake in Conagra Brands in the 4th quarter valued at $39,000. Arlington Partners LLC raised its stake in Conagra Brands by 97.7% in the 4th quarter. Arlington Partners LLC now owns 1,012 shares of the company’s stock valued at $39,000 after acquiring an additional 500 shares during the period. Finally, BerganKDV Wealth Management LLC raised its stake in Conagra Brands by 74.9% in the 4th quarter. BerganKDV Wealth Management LLC now owns 1,025 shares of the company’s stock valued at $40,000 after acquiring an additional 439 shares during the period. 81.08% of the stock is currently owned by institutional investors and hedge funds.
Conagra Brands Stock Performance
NYSE:CAG opened at $38.09 on Thursday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.32 and a current ratio of 0.97. Conagra Brands, Inc. has a 52-week low of $31.01 and a 52-week high of $41.30. The firm has a market cap of $18.17 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 2.16 and a beta of 0.56. The business’s fifty day moving average is $36.94 and its 200 day moving average is $37.10.
Conagra Brands Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Friday, April 28th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend is Thursday, April 27th. Conagra Brands’s dividend payout ratio is presently 79.04%.
Analysts Set New Price Targets
Several research analysts have weighed in on CAG shares. UBS Group increased their price objective on Conagra Brands from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, April 6th. Morgan Stanley lowered their price objective on Conagra Brands from $48.00 to $46.00 and set an “overweight” rating on the stock in a research report on Thursday, April 6th. JPMorgan Chase & Co. increased their price objective on Conagra Brands from $38.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, January 6th. Stifel Nicolaus initiated coverage on Conagra Brands in a research note on Thursday, April 13th. They issued a “hold” rating and a $43.00 price objective on the stock. Finally, StockNews.com started coverage on Conagra Brands in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $41.00.
Insider Buying and Selling at Conagra Brands
In other Conagra Brands news, EVP Charisse Brock sold 7,036 shares of the business’s stock in a transaction on Friday, April 14th. The stock was sold at an average price of $37.04, for a total value of $260,613.44. Following the sale, the executive vice president now directly owns 94,802 shares of the company’s stock, valued at $3,511,466.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Thomas M. Mcgough sold 45,000 shares of the company’s stock in a transaction on Thursday, April 6th. The stock was sold at an average price of $38.66, for a total transaction of $1,739,700.00. Following the completion of the sale, the chief operating officer now owns 104,859 shares in the company, valued at $4,053,848.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Charisse Brock sold 7,036 shares of the company’s stock in a transaction dated Friday, April 14th. The stock was sold at an average price of $37.04, for a total value of $260,613.44. Following the completion of the sale, the executive vice president now owns 94,802 shares of the company’s stock, valued at approximately $3,511,466.08. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by corporate insiders.
Conagra Brands Profile
Conagra Brands, Inc engages in the manufacture and sale of processed and packaged foods. It operates through the following segments: Grocery and Snacks, Refrigerated and Frozen, International, and Foodservice. The Grocery and Snacks segment includes branded, shelf stable food products sold in various retail channels in the United States.
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