Teacher Retirement System of Texas Cuts Stake in Conagra Brands (NYSE:CAG)

Teacher Retirement System of Texas lessened its stake in shares of Conagra Brands (NYSE:CAG - Free Report) by 58.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 69,781 shares of the company's stock after selling 98,173 shares during the quarter. Teacher Retirement System of Texas' holdings in Conagra Brands were worth $1,861,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CAG. Norges Bank acquired a new stake in Conagra Brands during the 4th quarter valued at $168,877,000. Massachusetts Financial Services Co. MA acquired a new stake in Conagra Brands during the 4th quarter valued at $110,704,000. Two Sigma Advisers LP grew its holdings in Conagra Brands by 33.9% during the 4th quarter. Two Sigma Advisers LP now owns 8,135,000 shares of the company's stock valued at $225,746,000 after buying an additional 2,058,000 shares during the last quarter. Deutsche Bank AG grew its holdings in Conagra Brands by 51.6% during the 4th quarter. Deutsche Bank AG now owns 5,664,293 shares of the company's stock valued at $157,184,000 after buying an additional 1,928,883 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Conagra Brands by 18.5% during the 4th quarter. Invesco Ltd. now owns 11,161,355 shares of the company's stock valued at $309,728,000 after buying an additional 1,745,319 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company's stock.

Conagra Brands Trading Down 0.5%

Shares of CAG traded down $0.10 during trading hours on Friday, hitting $19.39. The stock had a trading volume of 20,158,823 shares, compared to its average volume of 5,966,177. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.24 and a current ratio of 0.71. The firm has a market cap of $9.26 billion, a P/E ratio of 8.11, a P/E/G ratio of 1.68 and a beta of 0.11. The company's fifty day simple moving average is $21.96 and its 200 day simple moving average is $24.43. Conagra Brands has a 12-month low of $18.82 and a 12-month high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its earnings results on Thursday, July 10th. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.05). The firm had revenue of $2,781,800 billion during the quarter, compared to analysts' expectations of $2.88 billion. Conagra Brands had a return on equity of 12.52% and a net margin of 9.92%. The company's quarterly revenue was down 4.3% compared to the same quarter last year. During the same period last year, the business posted $0.61 earnings per share. Equities research analysts forecast that Conagra Brands will post 2.35 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Wednesday, July 30th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 7.22%. The ex-dividend date is Wednesday, July 30th. Conagra Brands's dividend payout ratio (DPR) is presently 205.88%.

Analysts Set New Price Targets

CAG has been the topic of a number of analyst reports. UBS Group lowered their target price on Conagra Brands from $21.00 to $20.00 and set a "neutral" rating on the stock in a report on Friday. Stifel Nicolaus decreased their price objective on Conagra Brands from $26.00 to $21.00 and set a "hold" rating on the stock in a report on Friday. Royal Bank Of Canada decreased their price objective on Conagra Brands from $25.00 to $22.00 and set a "sector perform" rating on the stock in a report on Friday. JPMorgan Chase & Co. decreased their price objective on Conagra Brands from $26.00 to $25.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. Finally, Morgan Stanley decreased their price objective on Conagra Brands from $22.00 to $20.00 and set an "equal weight" rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Conagra Brands has an average rating of "Hold" and a consensus target price of $22.73.

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.