Conagra Brands (NYSE:CAG) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its holdings in shares of Conagra Brands (NYSE:CAG - Free Report) by 8.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 354,285 shares of the company's stock after selling 33,770 shares during the quarter. New York State Teachers Retirement System owned 0.07% of Conagra Brands worth $9,449,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Essex Financial Services Inc. increased its position in Conagra Brands by 1.6% during the 1st quarter. Essex Financial Services Inc. now owns 35,567 shares of the company's stock worth $949,000 after purchasing an additional 552 shares in the last quarter. KBC Group NV increased its position in Conagra Brands by 560.1% during the 1st quarter. KBC Group NV now owns 2,042,766 shares of the company's stock worth $54,480,000 after purchasing an additional 1,733,297 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in Conagra Brands by 2.8% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,302,585 shares of the company's stock worth $34,740,000 after purchasing an additional 35,385 shares in the last quarter. Jeppson Wealth Management LLC increased its position in Conagra Brands by 11.3% during the 1st quarter. Jeppson Wealth Management LLC now owns 22,103 shares of the company's stock worth $589,000 after purchasing an additional 2,237 shares in the last quarter. Finally, Sunbelt Securities Inc. grew its position in Conagra Brands by 153.9% in the first quarter. Sunbelt Securities Inc. now owns 5,996 shares of the company's stock valued at $160,000 after acquiring an additional 3,634 shares in the last quarter. Institutional investors and hedge funds own 83.75% of the company's stock.

Conagra Brands Stock Down 2.8%

Shares of CAG stock traded down $0.58 during mid-day trading on Monday, reaching $20.41. 9,269,509 shares of the company were exchanged, compared to its average volume of 5,791,469. Conagra Brands has a fifty-two week low of $20.26 and a fifty-two week high of $33.24. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.23 and a current ratio of 0.69. The company has a market capitalization of $9.74 billion, a P/E ratio of 30.01, a P/E/G ratio of 1.59 and a beta of 0.11. The business's 50 day simple moving average is $22.30 and its 200 day simple moving average is $24.64.

Conagra Brands (NYSE:CAG - Get Free Report) last released its quarterly 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). Conagra Brands had a return on equity of 12.94% and a net margin of 2.80%. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same period in the previous year, the business posted $0.69 EPS. The firm's quarterly revenue was down 6.3% compared to the same quarter last year. Research analysts predict that Conagra Brands will post 2.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Wells Fargo & Company lowered their price objective 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. Bank of America downgraded shares of Conagra Brands from a "neutral" rating to an "underperform" rating and lowered their price objective for the company from $27.00 to $20.00 in a research report on Thursday, June 12th. Barclays lowered their price objective on shares of Conagra Brands from $29.00 to $26.00 and set an "overweight" rating for the company in a research report on Monday, May 12th. JPMorgan Chase & Co. lowered their price objective on shares of Conagra Brands from $26.00 to $25.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. Finally, UBS Group lowered their price objective on shares of Conagra Brands from $22.00 to $21.00 and set a "neutral" rating for the company in a research report on Tuesday, July 1st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $24.82.

About Conagra Brands

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.