Conagra Brands, Inc. (NYSE:CAG) Stake Cut by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lessened its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 6.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,441 shares of the company’s stock after selling 1,763 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Conagra Brands were worth $706,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Conagra Brands during the fourth quarter valued at approximately $28,000. Riverview Trust Co purchased a new position in shares of Conagra Brands during the 4th quarter valued at $29,000. Grove Bank & Trust increased its stake in shares of Conagra Brands by 65.4% in the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after acquiring an additional 447 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Conagra Brands during the fourth quarter worth $41,000. Finally, Stonebridge Financial Group LLC acquired a new stake in Conagra Brands during the fourth quarter valued at $44,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Analysts Set New Price Targets

CAG has been the subject of a number of recent research reports. The Goldman Sachs Group downgraded Conagra Brands from a “buy” rating to a “neutral” rating and cut their price target for the stock from $33.00 to $26.00 in a research note on Monday, February 24th. Bank of America reduced their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Barclays dropped their price target on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Citigroup decreased their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Finally, Stifel Nicolaus cut their target price on Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a report on Wednesday, February 19th. Nine research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $28.20.

Conagra Brands Stock Performance

CAG opened at $25.76 on Tuesday. Conagra Brands, Inc. has a 12-month low of $23.06 and a 12-month high of $33.24. The firm has a market capitalization of $12.29 billion, a P/E ratio of 25.25, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18. The stock’s 50 day moving average price is $25.61 and its two-hundred day moving average price is $27.78. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71.

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.