Conagra Brands, Inc. (NYSE:CAG) Stake Cut by Teacher Retirement System of Texas

Teacher Retirement System of Texas reduced its holdings in Conagra Brands, Inc. (NYSE:CAG) by 30.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 167,954 shares of the company’s stock after selling 74,674 shares during the period. Teacher Retirement System of Texas’ holdings in Conagra Brands were worth $4,661,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CAG. Two Sigma Advisers LP lifted its stake in Conagra Brands by 106.4% in the 3rd quarter. Two Sigma Advisers LP now owns 6,077,000 shares of the company’s stock worth $197,624,000 after acquiring an additional 3,133,200 shares in the last quarter. Holocene Advisors LP purchased a new stake in Conagra Brands in the 3rd quarter worth about $65,932,000. State Street Corp lifted its stake in Conagra Brands by 7.4% in the 3rd quarter. State Street Corp now owns 24,484,277 shares of the company’s stock worth $796,229,000 after acquiring an additional 1,691,945 shares in the last quarter. Ilex Capital Partners UK LLP purchased a new stake in Conagra Brands in the 3rd quarter worth about $46,990,000. Finally, Thompson Siegel & Walmsley LLC lifted its stake in Conagra Brands by 114.5% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 1,927,141 shares of the company’s stock worth $53,478,000 after acquiring an additional 1,028,631 shares in the last quarter. 83.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CAG shares. Bank of America cut their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a research note on Friday, December 20th. Stifel Nicolaus cut their price target on Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a research note on Wednesday, February 19th. Barclays cut their price target on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Finally, The Goldman Sachs Group downgraded Conagra Brands from a “buy” rating to a “neutral” rating and cut their price target for the stock from $33.00 to $26.00 in a research note on Monday, February 24th. Eight analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $28.33.

Conagra Brands Stock Performance

Shares of NYSE CAG opened at $25.65 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. The firm has a market cap of $12.24 billion, a price-to-earnings ratio of 25.14, a P/E/G ratio of 1.76 and a beta of 0.18. The business’s 50-day simple moving average is $25.62 and its 200-day simple moving average is $27.83. Conagra Brands, Inc. has a 52 week low of $23.06 and a 52 week high of $33.24.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The company’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the firm posted $0.71 EPS. As a group, equities research analysts expect that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

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.