New York State Teachers Retirement System Sells 33,770 Shares of Conagra Brands (NYSE:CAG)

New York State Teachers Retirement System reduced its holdings in shares of Conagra Brands (NYSE:CAG) by 8.7% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 354,285 shares of the company’s stock after selling 33,770 shares during the period. New York State Teachers Retirement System’s holdings in Conagra Brands were worth $9,449,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Alpine Bank Wealth Management bought a new position in shares of Conagra Brands during the first quarter worth about $26,000. Capital Advisors Ltd. LLC grew its stake in Conagra Brands by 82.3% in the first quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company’s stock valued at $27,000 after acquiring an additional 452 shares during the period. Golden State Wealth Management LLC grew its stake in Conagra Brands by 235.2% in the first quarter. Golden State Wealth Management LLC now owns 1,056 shares of the company’s stock valued at $28,000 after acquiring an additional 741 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Conagra Brands in the fourth quarter valued at approximately $41,000. Finally, AdvisorNet Financial Inc grew its stake in Conagra Brands by 86.1% in the first quarter. AdvisorNet Financial Inc now owns 1,491 shares of the company’s stock valued at $40,000 after acquiring an additional 690 shares during the period. 83.75% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on CAG. Bank of America cut Conagra Brands from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $27.00 to $20.00 in a research note on Thursday, June 12th. UBS Group dropped their target price on Conagra Brands from $22.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday. Wells Fargo & Company cut their price objective on Conagra Brands from $27.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Monday, June 2nd. Barclays cut their price objective on Conagra Brands from $29.00 to $26.00 and set an “overweight” rating on the stock in a research report on Monday, May 12th. Finally, Morgan Stanley cut their price objective on Conagra Brands from $27.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Two analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $24.82.

Conagra Brands Stock Performance

Shares of CAG opened at $21.00 on Friday. The firm has a market cap of $10.02 billion, a PE ratio of 30.88, a PEG ratio of 1.59 and a beta of 0.11. The stock’s fifty day moving average price is $22.37 and its two-hundred day moving average price is $24.72. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.69 and a quick ratio of 0.23. Conagra Brands has a 1 year low of $20.26 and a 1 year high of $33.24.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). Conagra Brands had a net margin of 2.80% and a return on equity of 12.94%. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the prior year, the company earned $0.69 earnings per share. The company’s quarterly revenue was down 6.3% on a year-over-year basis. On average, equities research analysts forecast that Conagra Brands will post 2.35 EPS for the current year.

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.