Will ConAgra’s Lower Credit Rating From S&P Concern These Top Institutional Shareholders?

ConAgra Foods Inc. (NYSE:CAG) has had their credit ratings lowered from Triple-B to triple-B- by Standard and Poor’s. This is in response to the company’s announcement that their acquisition of RalpCorp Holdings Inc. (NYSE:RAH) would be funded mainly by using debt. The move followed Fitch Ratings’s action last month, downgrading the company’s ratings and citing higher leverage.

Will ConAgra Foods, Inc.’s shareholders decrease their holdings? They reported owning a total of 276.708 million shares on 09/30/2012. The shares closed at $27.35 on 09/30/2012.

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Here are the ten largest positions in ConAgra Foods, Inc. at the end of September 30th, 2012.

State Street Corp. held 23,361,108 shares on 09/30/2012 worth $644,532,973. This brought the portfolio total to 0.09%.

Vanguard Group Inc. held 17,509,367 shares on 09/30/2012 worth $483,083,438. This brought the portfolio total to 0.06%.

Capital Research Global Investors held 15,631,100 shares on 09/30/2012 worth $431,262,051. This brought the portfolio total to 0.2%.

Blackrock Institutional Trust Company N.A. held 12,077,381 shares on 09/30/2012 worth $333,214,944. This brought the portfolio total to 0.08%.

Bank of New York Mellon Corp. held 10,061,017 shares on 09/30/2012 worth $277,583,461. This brought the portfolio total to 0.1%.

Price T. Rowe Associates Inc. /MD/ held 9,336,682 shares on 09/30/2012 worth $257,599,058. This brought the portfolio total to 0.08%.

Adage Capital Partners Gp. LLC. held 9,255,891 shares on 09/30/2012 worth $255,370,034. This brought the portfolio total to 0.93%.

Citadel Advisors LLC. held 6,497,832 shares on 09/30/2012 worth $179,275,186. This brought the portfolio total to 0.61%.

Diamond Hill Capital Management Inc. held 6,158,832 shares on 09/30/2012 worth $169,922,176. This brought the portfolio total to 1.95%.

J.P Morgan Chase & Co. held 5,903,291 shares on 09/30/2012 worth $162,871,800. This brought the portfolio total to 0.06%.

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