State Board of Administration of Florida Retirement System Has $23.31 Million Position in Conagra Brands, Inc. (NYSE:CAG)


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State Board of Administration of Florida Retirement System lowered its position in Conagra Brands, Inc. (NYSE:CAG) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 642,810 shares of the company’s stock after selling 3,430 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.13% of Conagra Brands worth $23,308,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CAG. Clearstead Advisors LLC raised its position in shares of Conagra Brands by 102.0% in the third quarter. Clearstead Advisors LLC now owns 808 shares of the company’s stock valued at $29,000 after purchasing an additional 408 shares during the period. Patriot Financial Group Insurance Agency LLC increased its position in Conagra Brands by 10,010.0% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 1,011 shares of the company’s stock worth $37,000 after acquiring an additional 1,001 shares during the period. Kinloch Capital LLC bought a new position in Conagra Brands during the fourth quarter worth about $42,000. Ellevest Inc. increased its position in Conagra Brands by 2,337.7% during the fourth quarter. Ellevest Inc. now owns 1,292 shares of the company’s stock worth $47,000 after acquiring an additional 1,239 shares during the period. Finally, Biltmore Capital Advisors LLC bought a new position in Conagra Brands during the third quarter worth about $57,000. Hedge funds and other institutional investors own 82.11% of the company’s stock.

In related news, Director Richard H. Lenny purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, January 8th. The shares were bought at an average cost of $33.70 per share, with a total value of $337,000.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.60% of the stock is currently owned by insiders.

A number of equities analysts recently commented on CAG shares. Zacks Investment Research raised shares of Conagra Brands from a “sell” rating to a “hold” rating and set a $36.00 price target on the stock in a research report on Monday, January 11th. Credit Suisse Group reiterated a “sell” rating and set a $33.00 price objective on shares of Conagra Brands in a research note on Thursday, January 21st. Finally, Jefferies Financial Group assumed coverage on shares of Conagra Brands in a research note on Friday, January 8th. They set a “buy” rating and a $41.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $35.36.

NYSE:CAG opened at $34.48 on Tuesday. The company has a fifty day moving average of $34.38 and a 200-day moving average of $35.90. The company has a quick ratio of 0.35, a current ratio of 0.83 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $16.85 billion, a P/E ratio of 15.19, a P/E/G ratio of 1.86 and a beta of 0.86. Conagra Brands, Inc. has a twelve month low of $22.83 and a twelve month high of $39.34.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Wednesday, January 6th. The company reported $0.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.07. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.98 billion. Conagra Brands had a net margin of 9.67% and a return on equity of 16.50%. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.63 EPS. On average, analysts anticipate that Conagra Brands, Inc. will post 2.6 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 3rd. Investors of record on Friday, January 29th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend is Thursday, January 28th. Conagra Brands’s dividend payout ratio (DPR) is currently 48.25%.

Conagra Brands Company Profile

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods 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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