California State Teachers Retirement System Sells 28,896 Shares of Conagra Brands, Inc. (NYSE:CAG)

California State Teachers Retirement System cut its stake in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 4.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 567,024 shares of the company's stock after selling 28,896 shares during the quarter. California State Teachers Retirement System owned approximately 0.12% of Conagra Brands worth $15,735,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Ameriprise Financial Inc. lifted its holdings in Conagra Brands by 104.1% in the 4th quarter. Ameriprise Financial Inc. now owns 1,793,701 shares of the company's stock worth $49,776,000 after purchasing an additional 914,820 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in Conagra Brands by 41.0% in the 4th quarter. State of Alaska Department of Revenue now owns 78,414 shares of the company's stock worth $2,175,000 after purchasing an additional 22,790 shares in the last quarter. Machina Capital S.A.S. purchased a new position in Conagra Brands in the 4th quarter worth approximately $558,000. Forsta AP Fonden lifted its holdings in Conagra Brands by 8.9% in the 4th quarter. Forsta AP Fonden now owns 123,600 shares of the company's stock worth $3,430,000 after purchasing an additional 10,100 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in Conagra Brands in the 4th quarter worth approximately $2,035,000. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Trading Down 0.7%

Shares of CAG traded down $0.17 during midday trading on Wednesday, hitting $22.51. The stock had a trading volume of 3,969,938 shares, compared to its average volume of 5,443,227. Conagra Brands, Inc. has a 1 year low of $21.98 and a 1 year high of $33.24. The firm has a market cap of $10.75 billion, a PE ratio of 22.07, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The stock's 50 day moving average is $24.22 and its 200 day moving average is $25.64.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its earnings results 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). The firm had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $2.92 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The company's revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.69 EPS. As a group, analysts forecast that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Monday, April 28th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.22%. The ex-dividend date of this dividend was Monday, April 28th. Conagra Brands's payout ratio is presently 205.88%.

Wall Street Analyst Weigh In

CAG has been the subject of a number of recent research reports. Barclays cut their target price on shares of Conagra Brands from $29.00 to $26.00 and set an "overweight" rating for the company in a report on Monday, May 12th. The Goldman Sachs Group downgraded shares of Conagra Brands from a "buy" rating to a "neutral" rating and decreased their price target for the company from $33.00 to $26.00 in a research note on Monday, February 24th. JPMorgan Chase & Co. decreased their price target on shares of Conagra Brands from $26.00 to $25.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 6th. Stifel Nicolaus decreased their price target on shares of Conagra Brands from $28.00 to $26.00 and set a "hold" rating on the stock in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company decreased their price target on shares of Conagra Brands from $27.00 to $23.00 and set an "equal weight" rating on the stock in a research note on Monday. Nine equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $27.10.

Conagra Brands 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.