IRON Financial LLC Takes Position in Conagra Brands, Inc. (NYSE:CAG)

IRON Financial LLC bought a new position in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 24,206 shares of the company's stock, valued at approximately $787,000.

Other large investors have also modified their holdings of the company. Chilton Capital Management LLC purchased a new position in shares of Conagra Brands during the 2nd quarter worth approximately $25,000. Innealta Capital LLC purchased a new position in shares of Conagra Brands during the 2nd quarter worth approximately $25,000. Hexagon Capital Partners LLC grew its holdings in shares of Conagra Brands by 82.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company's stock worth $30,000 after acquiring an additional 420 shares during the period. Whittier Trust Co. grew its holdings in shares of Conagra Brands by 144.4% in the 1st quarter. Whittier Trust Co. now owns 1,415 shares of the company's stock worth $42,000 after acquiring an additional 836 shares during the period. Finally, LRI Investments LLC acquired a new stake in shares of Conagra Brands in the 1st quarter worth approximately $44,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Price Performance

NYSE:CAG traded down $0.14 during trading hours on Thursday, reaching $28.94. 3,810,040 shares of the company traded hands, compared to its average volume of 4,718,609. Conagra Brands, Inc. has a 1-year low of $26.62 and a 1-year high of $33.24. The stock has a market cap of $13.81 billion, a P/E ratio of 28.10, a P/E/G ratio of 3.03 and a beta of 0.32. The firm's 50-day moving average is $30.98 and its 200-day moving average is $30.25. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.07). Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The firm had revenue of $2.79 billion during the quarter, compared to analysts' expectations of $2.84 billion. During the same period last year, the business posted $0.66 earnings per share. The company's quarterly revenue was down 3.8% compared to the same quarter last year. Equities research analysts expect that Conagra Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

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 of this dividend is Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a yield of 4.84%. Conagra Brands's dividend payout ratio (DPR) is 135.92%.

Insider Buying and Selling

In related news, COO Thomas M. Mcgough sold 40,000 shares of Conagra Brands stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total value of $1,211,600.00. Following the completion of the transaction, the chief operating officer now directly owns 161,443 shares in the company, valued at approximately $4,890,108.47. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CAG. Wells Fargo & Company upped their price target on Conagra Brands from $30.00 to $31.00 and gave the stock an "equal weight" rating in a report on Thursday, October 17th. BNP Paribas upgraded Conagra Brands to a "strong-buy" rating in a report on Thursday, October 3rd. Evercore ISI lowered their price target on 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 lowered their price target on Conagra Brands from $34.00 to $33.00 and set a "neutral" rating on the stock in a report on Thursday, October 3rd. Finally, Stifel Nicolaus lowered their target price on Conagra Brands from $32.00 to $30.00 and set a "hold" rating on the stock in a report on Friday, July 12th. Six equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $31.63.

Conagra Brands Profile

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.