Public Employees Retirement Association of Colorado Trims Position in Conagra Brands, Inc. (NYSE:CAG)

Public Employees Retirement Association of Colorado reduced its stake in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 91.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,190 shares of the company's stock after selling 469,469 shares during the quarter. Public Employees Retirement Association of Colorado's holdings in Conagra Brands were worth $1,282,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Conagra Brands in the fourth quarter worth $28,000. Riverview Trust Co purchased a new position in Conagra Brands in the 4th quarter worth $29,000. Grove Bank & Trust lifted its position in Conagra Brands by 65.4% during the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company's stock worth $31,000 after acquiring an additional 447 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Conagra Brands during the 4th quarter worth about $41,000. Finally, Stonebridge Financial Group LLC purchased a new stake in Conagra Brands during the 4th quarter valued at about $44,000. Institutional investors own 83.75% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CAG shares. Morgan Stanley assumed coverage on shares of Conagra Brands in a research report on Monday, March 24th. They set an "equal weight" rating and a $27.00 target price for the company. Stifel Nicolaus lowered their target price on Conagra Brands from $28.00 to $26.00 and set a "hold" rating on the stock in a research note on Wednesday, February 19th. The Goldman Sachs Group cut Conagra Brands from a "buy" rating to a "neutral" rating and reduced their price target for the company from $33.00 to $26.00 in a research report on Monday, February 24th. JPMorgan Chase & Co. lowered their price objective on Conagra Brands from $29.00 to $26.00 and set a "neutral" rating on the stock in a research report on Thursday, March 6th. Finally, Barclays raised their price objective on shares of Conagra Brands from $27.00 to $29.00 and gave the stock an "overweight" rating in a research note on Monday, April 7th. Nine analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Conagra Brands presently has an average rating of "Hold" and a consensus price target of $27.90.

Conagra Brands Stock Performance

Shares of NYSE CAG traded down $0.32 during trading hours on Friday, reaching $23.86. The stock had a trading volume of 5,309,416 shares, compared to its average volume of 5,147,073. The firm has a 50-day moving average of $25.67 and a 200-day moving average of $26.58. The firm has a market cap of $11.39 billion, a price-to-earnings ratio of 23.39, a PEG ratio of 1.76 and a beta of 0.27. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. Conagra Brands, Inc. has a fifty-two week low of $23.06 and a fifty-two week high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its quarterly earnings data on Thursday, April 3rd. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $2.84 billion for 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 firm's revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.69 earnings per share. Equities research analysts predict that Conagra Brands, Inc. will post 2.35 earnings per share for the current year.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Monday, April 28th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 5.87%. The ex-dividend date is Monday, April 28th. Conagra Brands's dividend payout ratio (DPR) is 205.88%.

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.