IRON Financial LLC Boosts Stake in Conagra Brands, Inc. (NYSE:CAG)

IRON Financial LLC grew its stake in Conagra Brands, Inc. (NYSE:CAG) by 3.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,924 shares of the company’s stock after acquiring an additional 718 shares during the quarter. IRON Financial LLC’s holdings in Conagra Brands were worth $692,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Pacer Advisors Inc. boosted its position in Conagra Brands by 21,015.0% during the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock valued at $346,495,000 after purchasing an additional 10,604,367 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of Conagra Brands by 106.4% during the third quarter. Two Sigma Advisers LP now owns 6,077,000 shares of the company’s stock valued at $197,624,000 after buying an additional 3,133,200 shares during the last quarter. Holocene Advisors LP bought a new stake in shares of Conagra Brands in the 3rd quarter valued at about $65,932,000. State Street Corp boosted its holdings in shares of Conagra Brands by 7.4% in the 3rd quarter. State Street Corp now owns 24,484,277 shares of the company’s stock valued at $796,229,000 after buying an additional 1,691,945 shares in the last quarter. Finally, Ilex Capital Partners UK LLP purchased a new position in shares of Conagra Brands in the 3rd quarter worth approximately $46,990,000. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CAG has been the subject of several recent analyst reports. Stifel Nicolaus lowered their target price on shares of Conagra Brands from $30.00 to $28.00 and set a “hold” rating for the company in a research note on Friday. Wells Fargo & Company lowered their price objective on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. BNP Paribas raised Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Citigroup lowered their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a report on Friday, December 20th. Seven investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Conagra Brands currently has a consensus rating of “Hold” and an average target price of $30.33.

Conagra Brands Trading Up 1.5 %

Conagra Brands stock opened at $26.17 on Tuesday. Conagra Brands, Inc. has a 52 week low of $25.06 and a 52 week high of $33.24. The stock has a 50-day moving average price of $27.05 and a 200 day moving average price of $29.14. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $12.49 billion, a price-to-earnings ratio of 25.66, a price-to-earnings-growth ratio of 1.72 and a beta of 0.29.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Thursday, December 19th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.68 by $0.02. The business had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.15 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. During the same period in the prior year, the firm earned $0.71 EPS. The business’s revenue for the quarter was down .4% on a year-over-year basis. Sell-side analysts anticipate that Conagra Brands, Inc. will post 2.46 EPS for the current year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.35%. Conagra Brands’s payout ratio is currently 137.26%.

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.