California Public Employees Retirement System Decreases Stock Position in Conagra Brands $CAG

California Public Employees Retirement System trimmed its stake in shares of Conagra Brands (NYSE:CAG) by 22.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,658,516 shares of the company’s stock after selling 472,164 shares during the quarter. California Public Employees Retirement System owned 0.35% of Conagra Brands worth $33,950,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Conagra Brands during the second quarter worth about $172,475,000. Ameriprise Financial Inc. lifted its position in shares of Conagra Brands by 233.7% during the 1st quarter. Ameriprise Financial Inc. now owns 5,985,256 shares of the company’s stock worth $159,625,000 after purchasing an additional 4,191,555 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in Conagra Brands by 315.4% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 4,120,156 shares of the company’s stock worth $84,340,000 after buying an additional 3,128,203 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Conagra Brands by 49.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,162,251 shares of the company’s stock valued at $217,686,000 after buying an additional 2,702,407 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in Conagra Brands by 156.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,238,558 shares of the company’s stock valued at $45,823,000 after acquiring an additional 1,366,059 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Wall Street Analysts Forecast Growth

CAG has been the topic of several research reports. JPMorgan Chase & Co. assumed coverage on Conagra Brands in a report on Wednesday, August 20th. They set a “neutral” rating and a $20.00 price objective on the stock. The Goldman Sachs Group decreased their target price on Conagra Brands from $18.00 to $16.00 and set a “sell” rating for the company in a research report on Monday, November 24th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $22.00 price target on shares of Conagra Brands in a research report on Thursday, October 2nd. UBS Group reduced their price objective on Conagra Brands from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, September 24th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Conagra Brands in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $20.82.

Insider Buying and Selling

In other Conagra Brands news, SVP Melissa C. Napier sold 13,011 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $17.19, for a total transaction of $223,659.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.57% of the company’s stock.

Conagra Brands Stock Up 1.8%

CAG opened at $17.43 on Thursday. Conagra Brands has a 52 week low of $16.60 and a 52 week high of $28.51. The business has a 50 day moving average price of $17.80 and a two-hundred day moving average price of $19.21. The company has a quick ratio of 0.44, a current ratio of 1.06 and a debt-to-equity ratio of 0.81. The company has a market cap of $8.34 billion, a PE ratio of 9.91 and a beta of -0.01.

Conagra Brands (NYSE:CAG) last announced its earnings results on Wednesday, October 1st. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.06. Conagra Brands had a return on equity of 11.72% and a net margin of 7.42%.The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same period last year, the business posted $0.53 EPS. The company’s revenue was down 5.8% on a year-over-year basis. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. As a group, research analysts anticipate that Conagra Brands will post 2.35 EPS for the current year.

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Thursday, October 30th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 8.0%. The ex-dividend date of this dividend was Thursday, October 30th. Conagra Brands’s payout ratio is currently 79.55%.

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.