Iron Horse Wealth Management LLC Increases Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Iron Horse Wealth Management LLC lifted its holdings in Conagra Brands, Inc. (NYSE:CAG) by 100.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,000 shares of the company’s stock after buying an additional 2,000 shares during the quarter. Iron Horse Wealth Management LLC’s holdings in Conagra Brands were worth $130,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Marshall Wace LLP grew its position in Conagra Brands by 1,362.6% during the 2nd quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock valued at $68,400,000 after purchasing an additional 2,242,186 shares during the last quarter. Federated Hermes Inc. boosted its stake in Conagra Brands by 20.5% during the 2nd quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock valued at $313,004,000 after purchasing an additional 1,871,238 shares during the last quarter. AMF Tjanstepension AB bought a new stake in shares of Conagra Brands in the 1st quarter worth $47,980,000. Squarepoint Ops LLC raised its position in Conagra Brands by 148.2% in the 2nd quarter. Squarepoint Ops LLC now owns 2,535,116 shares of the company’s stock worth $72,048,000 after buying an additional 1,513,726 shares during the last quarter. Finally, Miller Howard Investments Inc. NY boosted its holdings in shares of Conagra Brands by 523.8% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 1,446,775 shares of the company’s stock valued at $41,117,000 after acquiring an additional 1,214,859 shares during the last quarter. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Trading Up 0.1 %

CAG traded up $0.03 on Wednesday, hitting $29.51. The company had a trading volume of 520,432 shares, compared to its average volume of 4,755,161. Conagra Brands, Inc. has a 12-month low of $26.62 and a 12-month high of $33.24. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86. The business’s fifty day simple moving average is $31.13 and its 200 day simple moving average is $30.29. The company has a market cap of $14.11 billion, a PE ratio of 40.39, a PEG ratio of 3.01 and a beta of 0.32.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. Conagra Brands’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.66 earnings per share. Equities research analysts expect that Conagra Brands, Inc. will post 2.59 EPS for the current year.

Conagra Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date is Thursday, October 31st. Conagra Brands’s dividend payout ratio (DPR) is presently 191.78%.

Analysts Set New Price Targets

CAG has been the subject of a number of research reports. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. The Goldman Sachs Group initiated coverage on Conagra Brands in a research report on Monday, August 12th. They issued a “buy” rating and a $36.00 target price on the stock. Bank of America reduced their target price on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. Stifel Nicolaus decreased 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. Finally, Barclays reduced their price target on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Conagra Brands currently has an average rating of “Hold” and an average target price of $31.63.

Insiders Place Their Bets

In other news, COO Thomas M. Mcgough sold 40,000 shares of the business’s stock in a transaction 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 sale, the chief operating officer now directly owns 161,443 shares of the company’s stock, valued at $4,890,108.47. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.88% of the company’s stock.

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.