California Public Employees Retirement System Has $60.71 Million Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

California Public Employees Retirement System lessened its holdings in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,187,605 shares of the company's stock after selling 16,650 shares during the period. California Public Employees Retirement System owned 0.46% of Conagra Brands worth $60,706,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CAG. FMR LLC raised its holdings in Conagra Brands by 4.8% in the 3rd quarter. FMR LLC now owns 1,478,380 shares of the company's stock valued at $48,077,000 after acquiring an additional 67,079 shares during the period. Townsquare Capital LLC bought a new position in shares of Conagra Brands during the third quarter worth approximately $283,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Conagra Brands by 235,250.0% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,707 shares of the company's stock worth $153,000 after purchasing an additional 4,705 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in Conagra Brands by 16.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 21,000 shares of the company's stock worth $683,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its stake in Conagra Brands by 13.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 297,533 shares of the company's stock valued at $9,675,000 after purchasing an additional 35,319 shares during the period. Institutional investors and hedge funds own 83.75% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CAG. Stifel Nicolaus lowered their price objective on Conagra Brands from $28.00 to $26.00 and set a "hold" rating on the stock in a research report on Wednesday, February 19th. 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 Friday, December 20th. Wells Fargo & Company cut their price objective on shares of Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating for the company in a report on Tuesday, February 18th. Barclays decreased their target price on shares of Conagra Brands from $33.00 to $32.00 and set an "overweight" rating on the stock in a research report on Monday, December 23rd. Finally, The Goldman Sachs Group downgraded shares of Conagra Brands from a "buy" rating to a "neutral" rating and dropped their price target for the company from $33.00 to $26.00 in a research report on Monday, February 24th. Nine analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $28.20.

Conagra Brands Price Performance

NYSE CAG traded down $0.07 on Friday, hitting $26.71. 11,256,666 shares of the company's stock were exchanged, compared to its average volume of 5,078,496. The stock has a 50-day moving average of $25.74 and a 200-day moving average of $27.40. The stock has a market cap of $12.75 billion, a price-to-earnings ratio of 26.19, a P/E/G ratio of 1.76 and a beta of 0.27. Conagra Brands, Inc. has a 52 week low of $23.06 and a 52 week high of $33.24. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its quarterly earnings data on Thursday, April 3rd. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the prior year, the company earned $0.69 earnings per share. Conagra Brands's quarterly revenue was down 6.3% compared to the same quarter last year. Analysts expect that Conagra Brands, Inc. will post 2.35 earnings per share for the current year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Monday, April 28th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 5.24%. The ex-dividend date of this dividend is Monday, April 28th. Conagra Brands's dividend payout ratio is 205.88%.

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.