TIAA CREF Investment Management LLC lessened its holdings in Conagra Brands (NYSE:CAG) by 15.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,122,777 shares of the company’s stock after selling 900,624 shares during the quarter. TIAA CREF Investment Management LLC owned approximately 1.28% of Conagra Brands worth $192,975,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Teachers Advisors LLC increased its position in Conagra Brands by 0.8% during the 4th quarter. Teachers Advisors LLC now owns 3,127,997 shares of the company’s stock valued at $117,832,000 after purchasing an additional 26,304 shares during the period. Captrust Financial Advisors increased its position in Conagra Brands by 12.5% during the 4th quarter. Captrust Financial Advisors now owns 26,712 shares of the company’s stock valued at $1,006,000 after purchasing an additional 2,968 shares during the period. Raymond James & Associates increased its position in Conagra Brands by 9.8% during the 4th quarter. Raymond James & Associates now owns 161,683 shares of the company’s stock valued at $6,091,000 after purchasing an additional 14,475 shares during the period. HPM Partners LLC increased its position in Conagra Brands by 22.2% during the 4th quarter. HPM Partners LLC now owns 15,218 shares of the company’s stock valued at $573,000 after purchasing an additional 2,763 shares during the period. Finally, Stone Ridge Asset Management LLC acquired a new stake in Conagra Brands during the 4th quarter valued at approximately $1,475,000. Institutional investors and hedge funds own 79.88% of the company’s stock.
Shares of CAG stock opened at $36.74 on Friday. The company has a market cap of $14,748.33, a PE ratio of 18.50, a P/E/G ratio of 2.25 and a beta of 0.28. Conagra Brands has a 52 week low of $32.16 and a 52 week high of $41.03. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.03 and a quick ratio of 0.52.
Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, March 22nd. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.56 by $0.05. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $2 billion. Conagra Brands had a net margin of 11.36% and a return on equity of 21.08%. The company’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter last year, the firm posted $0.48 EPS. sell-side analysts expect that Conagra Brands will post 2.05 earnings per share for the current fiscal year.
In related news, Director Ruth Ann Marshall sold 6,046 shares of Conagra Brands stock in a transaction on Monday, March 26th. The shares were sold at an average price of $35.86, for a total value of $216,809.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Robert G. Wise sold 5,908 shares of Conagra Brands stock in a transaction on Wednesday, April 4th. The shares were sold at an average price of $37.12, for a total transaction of $219,304.96. Following the completion of the sale, the senior vice president now directly owns 22,781 shares of the company’s stock, valued at approximately $845,630.72. The disclosure for this sale can be found here. Company insiders own 0.79% of the company’s stock.
A number of analysts have weighed in on the stock. UBS increased their target price on shares of Conagra Brands from $38.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, March 23rd. Zacks Investment Research downgraded shares of Conagra Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, February 27th. JPMorgan Chase decreased their target price on shares of Conagra Brands from $44.00 to $41.00 and set an “overweight” rating for the company in a research report on Friday, March 23rd. Stifel Nicolaus increased their target price on shares of Conagra Brands from $38.00 to $42.00 and gave the company a “buy” rating in a research report on Saturday, December 30th. Finally, Jefferies Group reissued a “buy” rating and set a $44.00 target price on shares of Conagra Brands in a research report on Thursday, March 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $41.67.
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Conagra Brands Company Profile
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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