Public Sector Pension Investment Board Purchases 7,143 Shares of Conagra Brands, Inc. (NYSE:CAG)

Public Sector Pension Investment Board boosted its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 65.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,000 shares of the company’s stock after purchasing an additional 7,143 shares during the period. Public Sector Pension Investment Board’s holdings in Conagra Brands were worth $512,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Conagra Brands by 7.7% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 5,220 shares of the company’s stock worth $155,000 after purchasing an additional 373 shares during the period. Czech National Bank increased its stake in Conagra Brands by 0.5% during the 1st quarter. Czech National Bank now owns 84,105 shares of the company’s stock valued at $2,493,000 after purchasing an additional 392 shares in the last quarter. Summit Financial Wealth Advisors LLC increased its stake in shares of Conagra Brands by 1.1% in the first quarter. Summit Financial Wealth Advisors LLC now owns 39,955 shares of the company’s stock worth $1,184,000 after acquiring an additional 430 shares during the period. Courier Capital LLC increased its stake in shares of Conagra Brands by 1.7% in the second quarter. Courier Capital LLC now owns 26,707 shares of the company’s stock worth $759,000 after acquiring an additional 438 shares during the period. Finally, Avantax Advisory Services Inc. increased its stake in shares of Conagra Brands by 4.1% in the first quarter. Avantax Advisory Services Inc. now owns 11,265 shares of the company’s stock worth $334,000 after acquiring an additional 445 shares during the period. 83.75% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, COO Thomas M. Mcgough sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the completion of the sale, the chief operating officer now owns 161,443 shares in the company, valued at approximately $4,890,108.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.88% of the stock is owned by insiders.

Analysts Set New Price Targets

CAG has been the topic of several analyst reports. Barclays dropped their price target on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Evercore ISI decreased their price objective on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Bank of America decreased their price target on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday. Stifel Nicolaus decreased their price target on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, July 12th. Finally, The Goldman Sachs Group started coverage on shares of Conagra Brands in a research report on Monday, August 12th. They set a “buy” rating and a $36.00 price objective for the company. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Conagra Brands presently has a consensus rating of “Hold” and an average target price of $31.00.

Conagra Brands Price Performance

Shares of CAG opened at $29.35 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.97 and a quick ratio of 0.33. The stock has a market cap of $14.03 billion, a PE ratio of 40.07, a P/E/G ratio of 2.95 and a beta of 0.32. The firm has a 50-day simple moving average of $31.29 and a two-hundred day simple moving average of $30.26. Conagra Brands, Inc. has a 1-year low of $25.16 and a 1-year high of $33.24.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). Conagra Brands had a net margin of 2.88% and a return on equity of 14.31%. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same quarter last year, the firm posted $0.66 EPS. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. As a group, analysts forecast that Conagra Brands, Inc. will post 2.61 EPS for the current year.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be paid a $0.35 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a yield of 4.77%. Conagra Brands’s dividend payout ratio is currently 191.78%.

About Conagra Brands

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.