Retirement Systems of Alabama Acquires 2,845 Shares of Conagra Brands Inc (CAG)

Retirement Systems of Alabama lifted its position in shares of Conagra Brands Inc (NYSE:CAG) by 1.3% in the first quarter, Holdings Channel reports. The institutional investor owned 226,121 shares of the company’s stock after acquiring an additional 2,845 shares during the quarter. Retirement Systems of Alabama’s holdings in Conagra Brands were worth $6,273,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Old North State Trust LLC increased its holdings in shares of Conagra Brands by 23.9% during the 1st quarter. Old North State Trust LLC now owns 1,953 shares of the company’s stock worth $54,000 after buying an additional 377 shares during the last quarter. Suntrust Banks Inc. increased its holdings in shares of Conagra Brands by 0.7% during the 4th quarter. Suntrust Banks Inc. now owns 59,350 shares of the company’s stock worth $1,268,000 after buying an additional 440 shares during the last quarter. Kaizen Advisory LLC increased its holdings in shares of Conagra Brands by 47.3% during the 4th quarter. Kaizen Advisory LLC now owns 1,380 shares of the company’s stock worth $29,000 after buying an additional 443 shares during the last quarter. Edmond DE Rothschild Holding S.A. increased its holdings in shares of Conagra Brands by 26.5% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 2,530 shares of the company’s stock worth $54,000 after buying an additional 530 shares during the last quarter. Finally, Cigna Investments Inc. New increased its holdings in shares of Conagra Brands by 4.0% during the 4th quarter. Cigna Investments Inc. New now owns 13,900 shares of the company’s stock worth $296,000 after buying an additional 532 shares during the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

NYSE:CAG opened at $30.89 on Wednesday. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.31 and a quick ratio of 0.58. The company has a market cap of $14.97 billion, a P/E ratio of 14.64, a P/E/G ratio of 2.21 and a beta of 0.77. Conagra Brands Inc has a fifty-two week low of $20.22 and a fifty-two week high of $39.43.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, March 21st. The company reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.02. The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.75 billion. Conagra Brands had a net margin of 6.99% and a return on equity of 16.40%. The firm’s quarterly revenue was up 35.7% on a year-over-year basis. During the same quarter last year, the company posted $0.61 EPS. As a group, equities analysts forecast that Conagra Brands Inc will post 2.07 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Tuesday, April 30th will be given a dividend of $0.2125 per share. The ex-dividend date is Monday, April 29th. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.75%. Conagra Brands’s payout ratio is currently 40.28%.

In related news, Director Joie A. Gregor acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, April 16th. The stock was purchased at an average price of $29.99 per share, with a total value of $299,900.00. Following the transaction, the director now owns 145,440 shares of the company’s stock, valued at approximately $4,361,745.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.92% of the company’s stock.

A number of analysts have recently issued reports on the stock. Bank of America set a $30.00 price target on shares of Conagra Brands and gave the stock a “buy” rating in a report on Friday, March 22nd. Zacks Investment Research downgraded shares of Conagra Brands from a “hold” rating to a “sell” rating in a report on Thursday, March 14th. Goldman Sachs Group set a $32.00 price target on shares of Conagra Brands and gave the stock a “buy” rating in a report on Friday, March 22nd. Credit Suisse Group increased their price objective on shares of Conagra Brands from $24.00 to $27.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 26th. Finally, ValuEngine raised shares of Conagra Brands from a “strong sell” rating to a “sell” rating in a research report on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $37.90.

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About Conagra Brands

Conagra Brands, Inc, together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.

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Institutional Ownership by Quarter for Conagra Brands (NYSE:CAG)

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