California State Teachers Retirement System lifted its holdings in shares of Conagra Brands Inc (NYSE:CAG) by 22.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 821,166 shares of the company’s stock after acquiring an additional 152,532 shares during the quarter. California State Teachers Retirement System owned approximately 0.17% of Conagra Brands worth $17,540,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Conagra Brands by 0.8% during the third quarter. Vanguard Group Inc. now owns 45,019,445 shares of the company’s stock valued at $1,529,309,000 after acquiring an additional 362,347 shares in the last quarter. Vanguard Group Inc raised its holdings in Conagra Brands by 0.8% in the third quarter. Vanguard Group Inc now owns 45,019,445 shares of the company’s stock worth $1,529,309,000 after purchasing an additional 362,347 shares in the last quarter. Neuberger Berman Group LLC raised its holdings in Conagra Brands by 12.8% in the third quarter. Neuberger Berman Group LLC now owns 8,464,981 shares of the company’s stock worth $287,556,000 after purchasing an additional 957,928 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Conagra Brands by 18.9% in the fourth quarter. Bank of New York Mellon Corp now owns 8,347,879 shares of the company’s stock worth $178,311,000 after purchasing an additional 1,327,796 shares in the last quarter. Finally, FMR LLC raised its holdings in Conagra Brands by 59.3% in the third quarter. FMR LLC now owns 6,684,731 shares of the company’s stock worth $227,081,000 after purchasing an additional 2,487,451 shares in the last quarter. Institutional investors own 83.79% of the company’s stock.
A number of research firms have issued reports on CAG. Zacks Investment Research downgraded Conagra Brands from a “hold” rating to a “sell” rating in a report on Thursday. TheStreet downgraded Conagra Brands from a “b-” rating to a “c+” rating in a report on Monday, December 3rd. Credit Suisse Group set a $35.00 price objective on Conagra Brands and gave the stock a “hold” rating in a report on Monday, November 26th. Barclays reiterated a “buy” rating and issued a $30.00 price objective on shares of Conagra Brands in a report on Sunday, December 23rd. Finally, ValuEngine downgraded Conagra Brands from a “hold” rating to a “sell” rating in a report on Friday, December 21st. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $41.40.
NYSE CAG opened at $23.09 on Friday. Conagra Brands Inc has a 12 month low of $20.22 and a 12 month high of $39.43. The firm has a market capitalization of $11.21 billion, a PE ratio of 10.94, a P/E/G ratio of 1.58 and a beta of 0.74. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.69 and a current ratio of 1.47.
Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, December 20th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.12. Conagra Brands had a return on equity of 19.45% and a net margin of 9.07%. The firm had revenue of $2.38 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the prior year, the firm posted $0.55 earnings per share. The company’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, equities analysts anticipate that Conagra Brands Inc will post 2.06 earnings per share for the current year.
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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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