Commonwealth of Pennsylvania Public School Empls Retrmt SYS Trims Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 2.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 101,483 shares of the company’s stock after selling 2,802 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Conagra Brands were worth $2,816,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Conagra Brands during the 4th quarter worth $28,000. Riverview Trust Co purchased a new position in shares of Conagra Brands during the fourth quarter worth about $29,000. Grove Bank & Trust increased its position in Conagra Brands by 65.4% in the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after acquiring an additional 447 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Conagra Brands during the 4th quarter valued at approximately $41,000. Finally, Stonebridge Financial Group LLC acquired a new stake in Conagra Brands during the 4th quarter worth approximately $44,000. 83.75% of the stock is owned by institutional investors and hedge funds.

Conagra Brands Price Performance

Shares of NYSE:CAG opened at $25.76 on Tuesday. The firm has a market capitalization of $12.29 billion, a price-to-earnings ratio of 25.25, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The business’s 50 day simple moving average is $25.61 and its 200-day simple moving average is $27.78. Conagra Brands, Inc. has a 12 month low of $23.06 and a 12 month high of $33.24.

Wall Street Analyst Weigh In

CAG has been the topic of a number of recent research reports. Citigroup dropped their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, December 11th. Bank of America cut their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. The Goldman Sachs Group cut shares of Conagra Brands from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $33.00 to $26.00 in a research note on Monday, February 24th. Wells Fargo & Company dropped their price target on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Finally, Morgan Stanley began coverage on shares of Conagra Brands in a research report on Monday. They issued an “equal weight” rating and a $27.00 price objective for the company. Nine research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $28.20.

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.