Forum Financial Management LP Buys Shares of 8,254 Conagra Brands, Inc. (NYSE:CAG)

Forum Financial Management LP purchased a new position in shares of Conagra Brands, Inc. (NYSE:CAG) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,254 shares of the company’s stock, valued at approximately $268,000.

A number of other large investors have also modified their holdings of CAG. Robeco Institutional Asset Management B.V. boosted its stake in Conagra Brands by 108.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 622,745 shares of the company’s stock valued at $20,252,000 after purchasing an additional 323,742 shares during the period. BSW Wealth Partners bought a new stake in shares of Conagra Brands during the third quarter valued at approximately $397,000. Van ECK Associates Corp boosted its position in shares of Conagra Brands by 49.4% during the third quarter. Van ECK Associates Corp now owns 22,669 shares of the company’s stock worth $737,000 after buying an additional 7,500 shares during the period. Chicago Partners Investment Group LLC grew its holdings in Conagra Brands by 15.8% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 8,850 shares of the company’s stock worth $288,000 after buying an additional 1,207 shares in the last quarter. Finally, IRON Financial LLC acquired a new stake in Conagra Brands in the 3rd quarter valued at approximately $787,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Stock Performance

Shares of CAG opened at $29.08 on Wednesday. The company has a 50-day moving average of $30.87 and a two-hundred day moving average of $30.22. Conagra Brands, Inc. has a one year low of $26.62 and a one year high of $33.24. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33. The stock has a market cap of $13.88 billion, a price-to-earnings ratio of 28.23, a PEG ratio of 2.98 and a beta of 0.34.

Conagra Brands (NYSE:CAG) last released 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 net margin of 4.14% and a return on equity of 13.71%. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same period last year, the firm earned $0.66 EPS. The company’s revenue was down 3.8% compared to the same quarter last year. On average, equities research analysts expect that Conagra Brands, Inc. will post 2.59 earnings per share for the current year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders 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 dividend yield of 4.81%. The ex-dividend date is Thursday, October 31st. Conagra Brands’s dividend payout ratio (DPR) is presently 135.92%.

Wall Street Analyst Weigh In

CAG has been the subject of a number of analyst reports. Stifel Nicolaus reduced their price target on Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Friday, July 12th. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Barclays dropped their price target on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Wells Fargo & Company increased their price objective on shares of Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a research note on Thursday, October 3rd. Six analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $31.63.

Insider Buying and Selling

In other Conagra Brands news, COO Thomas M. Mcgough sold 40,000 shares of the business’s 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 transaction, the chief operating officer now owns 161,443 shares in the company, 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 document filed with the SEC, which is available through the SEC website. 0.51% of the stock is owned by corporate insiders.

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.