New York State Common Retirement Fund Sells 59,373 Shares of Conagra Brands, Inc. (NYSE:CAG)

New York State Common Retirement Fund cut its holdings in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 14.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 342,976 shares of the company's stock after selling 59,373 shares during the period. New York State Common Retirement Fund owned 0.07% of Conagra Brands worth $9,830,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CAG. Naples Money Management LLC acquired a new stake in Conagra Brands in the fourth quarter valued at $26,000. Thompson Investment Management Inc. lifted its holdings in Conagra Brands by 100.0% in the third quarter. Thompson Investment Management Inc. now owns 1,000 shares of the company's stock valued at $27,000 after acquiring an additional 500 shares during the period. Authentikos Wealth Advisory LLC acquired a new stake in Conagra Brands in the third quarter valued at $33,000. Peoples Bank KS acquired a new position in shares of Conagra Brands during the 3rd quarter worth $47,000. Finally, Quent Capital LLC raised its stake in Conagra Brands by 313.4% in the 4th quarter. Quent Capital LLC now owns 1,666 shares of the company's stock valued at $48,000 after purchasing an additional 1,263 shares during the last quarter. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Stock Up 0.4 %

Shares of NYSE CAG traded up $0.11 during mid-day trading on Thursday, reaching $30.85. 3,534,743 shares of the company traded hands, compared to its average volume of 5,071,106. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.33 and a current ratio of 0.95. The stock has a market cap of $14.75 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 3.09 and a beta of 0.38. The company's fifty day moving average is $29.40 and its two-hundred day moving average is $28.75. Conagra Brands, Inc. has a fifty-two week low of $25.16 and a fifty-two week high of $38.73.

Conagra Brands (NYSE:CAG - Get Free Report) last released its earnings results on Thursday, April 4th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.64 by $0.05. The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.01 billion. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. The company's revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.76 EPS. On average, analysts expect that Conagra Brands, Inc. will post 2.62 earnings per share for the current year.

Conagra Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Tuesday, April 30th will be given a dividend of $0.35 per share. The ex-dividend date is Monday, April 29th. This represents a $1.40 annualized dividend and a dividend yield of 4.54%. Conagra Brands's dividend payout ratio (DPR) is presently 70.35%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Royal Bank of Canada decreased their target price on Conagra Brands from $32.00 to $30.00 and set a "sector perform" rating for the company in a report on Wednesday, January 3rd. Citigroup upped their target price on Conagra Brands from $30.00 to $32.00 and gave the company a "neutral" rating in a research report on Friday, April 5th. Wells Fargo & Company upped their price target on Conagra Brands from $30.00 to $32.00 and gave the company an "equal weight" rating in a research report on Friday, April 5th. Stifel Nicolaus upped their price target on Conagra Brands from $29.00 to $32.00 and gave the company a "hold" rating in a research report on Friday, April 5th. Finally, Barclays increased their price target on Conagra Brands from $31.00 to $34.00 and gave the stock an "overweight" rating in a research note on Monday, April 8th. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, Conagra Brands currently has a consensus rating of "Hold" and an average target price of $33.14.

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.