Illinois Municipal Retirement Fund Purchases 37,107 Shares of Conagra Brands (NYSE:CAG)

Illinois Municipal Retirement Fund grew its position in shares of Conagra Brands (NYSE:CAG - Free Report) by 41.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 126,605 shares of the company's stock after purchasing an additional 37,107 shares during the period. Illinois Municipal Retirement Fund's holdings in Conagra Brands were worth $3,377,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CAG. Bank of New York Mellon Corp boosted its stake in Conagra Brands by 13.3% in the fourth quarter. Bank of New York Mellon Corp now owns 5,462,414 shares of the company's stock worth $151,582,000 after buying an additional 642,806 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Conagra Brands in the 4th quarter worth $2,035,000. Versor Investments LP purchased a new position in Conagra Brands in the 4th quarter worth $377,000. US Bancorp DE lifted its stake in Conagra Brands by 0.4% in the fourth quarter. US Bancorp DE now owns 212,694 shares of the company's stock worth $5,902,000 after purchasing an additional 896 shares during the last quarter. Finally, Metis Global Partners LLC boosted its position in Conagra Brands by 84.8% during the fourth quarter. Metis Global Partners LLC now owns 28,279 shares of the company's stock valued at $785,000 after buying an additional 12,977 shares during the period. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on CAG. Barclays lowered their target price on Conagra Brands from $29.00 to $26.00 and set an "overweight" rating for the company in a research note on Monday, May 12th. The Goldman Sachs Group downgraded Conagra Brands from a "neutral" rating to a "sell" rating and lowered their price objective for the company from $26.00 to $21.00 in a research report on Monday, June 9th. UBS Group cut their target price on shares of Conagra Brands from $22.00 to $21.00 and set a "neutral" rating on the stock in a report on Tuesday. Morgan Stanley lowered their price target on shares of Conagra Brands from $27.00 to $22.00 and set an "equal weight" rating for the company in a report on Wednesday. Finally, Wells Fargo & Company dropped their price target on shares of Conagra Brands from $27.00 to $23.00 and set an "equal weight" rating for the company in a research report on Monday, June 2nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Conagra Brands has a consensus rating of "Hold" and an average target price of $24.82.

Conagra Brands Trading Up 0.4%

Shares of NYSE CAG traded up $0.09 during midday trading on Wednesday, hitting $21.14. 4,946,275 shares of the company traded hands, compared to its average volume of 5,741,254. Conagra Brands has a 12-month low of $20.26 and a 12-month high of $33.24. The firm has a market cap of $10.09 billion, a P/E ratio of 31.09, a P/E/G ratio of 1.52 and a beta of 0.11. The stock has a 50-day moving average price of $22.60 and a 200 day moving average price of $24.84. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.23 and a current ratio of 0.69.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The firm had revenue of $2.84 billion for the quarter, compared to analysts' expectations of $2.92 billion. Conagra Brands had a return on equity of 12.94% and a net margin of 2.80%. The firm's revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the company posted $0.69 EPS. As a group, analysts expect that Conagra Brands will post 2.35 earnings per share for the current year.

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.