Public Employees Retirement System of Ohio cut its stake in Conagra Brands Inc (NYSE:CAG) by 3.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 169,179 shares of the company’s stock after selling 6,456 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Conagra Brands were worth $5,708,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. IndexIQ Advisors LLC raised its holdings in Conagra Brands by 0.4% in the 2nd quarter. IndexIQ Advisors LLC now owns 9,828 shares of the company’s stock worth $352,000 after purchasing an additional 36 shares in the last quarter. Synovus Financial Corp grew its position in shares of Conagra Brands by 1.8% in the 2nd quarter. Synovus Financial Corp now owns 8,884 shares of the company’s stock worth $318,000 after buying an additional 155 shares during the period. MML Investors Services LLC grew its position in shares of Conagra Brands by 0.8% in the 2nd quarter. MML Investors Services LLC now owns 27,246 shares of the company’s stock worth $974,000 after buying an additional 222 shares during the period. Intact Investment Management Inc. grew its position in shares of Conagra Brands by 3.4% in the 2nd quarter. Intact Investment Management Inc. now owns 9,200 shares of the company’s stock worth $329,000 after buying an additional 300 shares during the period. Finally, Veritable L.P. grew its position in shares of Conagra Brands by 0.7% in the 2nd quarter. Veritable L.P. now owns 48,947 shares of the company’s stock worth $1,750,000 after buying an additional 320 shares during the period. Institutional investors and hedge funds own 78.88% of the company’s stock.
Shares of Conagra Brands Inc (CAG) opened at $38.08 on Monday. Conagra Brands Inc has a 1 year low of $32.16 and a 1 year high of $41.68. The company has a market cap of $15,560.00, a PE ratio of 22.67, a P/E/G ratio of 2.91 and a beta of 0.37. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.51 and a current ratio of 1.11.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Tuesday, January 30th will be given a dividend of $0.213 per share. This represents a $0.85 annualized dividend and a yield of 2.24%. This is an increase from Conagra Brands’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Monday, January 29th. Conagra Brands’s dividend payout ratio is 50.60%.
CAG has been the topic of a number of recent research reports. Stifel Nicolaus raised shares of Conagra Brands from a “hold” rating to a “buy” rating and upped their target price for the stock from $36.00 to $38.00 in a research report on Sunday, October 29th. They noted that the move was a valuation call. Credit Suisse Group reduced their target price on shares of Conagra Brands from $39.00 to $37.00 and set a “neutral” rating on the stock in a research report on Monday, September 25th. Zacks Investment Research raised shares of Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Wednesday, November 22nd. Jefferies Group reaffirmed a “buy” rating and issued a $40.00 target price on shares of Conagra Brands in a research report on Tuesday, October 3rd. Finally, UBS Group raised shares of Conagra Brands from a “sell” rating to a “neutral” rating and upped their target price for the stock from $33.00 to $37.00 in a research report on Tuesday, December 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $40.70.
In related news, EVP Colleen Batcheler sold 120,451 shares of the stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $37.50, for a total transaction of $4,516,912.50. Following the sale, the executive vice president now directly owns 211,514 shares of the company’s stock, valued at approximately $7,931,775. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.79% of the company’s stock.
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Conagra Brands Company Profile
Conagra Brands, Inc, formerly ConAgra Foods, Inc, operates as a packaged food company. The Company operates through two segments: Consumer Foods and Commercial Foods. The Company sells branded and customized food products, as well as commercially branded foods. It also supplies vegetable, spice and grain products to a range of restaurants, foodservice operators and commercial customers.
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