Conagra Brands $CAG Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its stake in Conagra Brands (NYSE:CAG) by 12.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 325,404 shares of the company’s stock after selling 45,983 shares during the quarter. New York State Teachers Retirement System owned about 0.07% of Conagra Brands worth $5,115,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CAG. Private Advisor Group LLC grew its holdings in Conagra Brands by 34.7% in the 1st quarter. Private Advisor Group LLC now owns 50,361 shares of the company’s stock valued at $792,000 after buying an additional 12,975 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Conagra Brands during the 1st quarter worth $1,639,000. Platform Technology Partners acquired a new position in shares of Conagra Brands during the 1st quarter valued at about $174,000. Sound Income Strategies LLC boosted its position in shares of Conagra Brands by 6.0% during the 1st quarter. Sound Income Strategies LLC now owns 431,070 shares of the company’s stock valued at $6,690,000 after acquiring an additional 24,404 shares during the last quarter. Finally, KPP Advisory Services LLC purchased a new stake in shares of Conagra Brands in the first quarter valued at about $159,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Up 2.0%

Shares of NYSE CAG opened at $14.06 on Wednesday. The firm has a market cap of $6.73 billion, a price-to-earnings ratio of -140.64 and a beta of -0.02. The company has a quick ratio of 0.30, a current ratio of 0.90 and a debt-to-equity ratio of 0.79. Conagra Brands has a 52-week low of $12.53 and a 52-week high of $20.82. The business’s 50 day moving average is $13.63 and its two-hundred day moving average is $15.88.

Insider Buying and Selling at Conagra Brands

In other news, Director Richard H. Lenny bought 25,000 shares of the company’s stock in a transaction on Tuesday, April 14th. The stock was bought at an average cost of $14.34 per share, with a total value of $358,500.00. Following the transaction, the director directly owned 229,340 shares in the company, valued at $3,288,735.60. The trade was a 12.23% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John J. Mulligan acquired 17,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 14th. The stock was acquired at an average price of $14.31 per share, with a total value of $250,425.00. Following the acquisition, the director directly owned 20,728 shares of the company’s stock, valued at approximately $296,617.68. This represents a 542.13% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.57% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CAG has been the topic of a number of analyst reports. Royal Bank Of Canada reduced their target price on shares of Conagra Brands from $17.00 to $16.00 and set a “sector perform” rating on the stock in a research note on Thursday, June 25th. UBS Group dropped their price target on shares of Conagra Brands from $16.00 to $13.00 and set a “neutral” rating for the company in a research note on Tuesday, June 2nd. Wells Fargo & Company reduced their price target on shares of Conagra Brands from $14.00 to $13.00 and set an “underweight” rating on the stock in a research report on Monday, May 18th. Evercore decreased their price objective on Conagra Brands from $18.00 to $13.00 in a report on Wednesday, June 10th. Finally, TD Cowen lowered their price objective on Conagra Brands from $18.00 to $14.00 and set a “hold” rating for the company in a research report on Wednesday, March 25th. One equities research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $14.13.

Conagra Brands Company Profile

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.