OLD National Bancorp IN Has $6.13 Million Stock Position in Conagra Brands $CAG

OLD National Bancorp IN increased its holdings in shares of Conagra Brands (NYSE:CAG) by 10.5% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 389,863 shares of the company’s stock after purchasing an additional 37,094 shares during the period. OLD National Bancorp IN owned 0.08% of Conagra Brands worth $6,129,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. WealthPlan Investment Management LLC raised its stake in Conagra Brands by 5.3% in the fourth quarter. WealthPlan Investment Management LLC now owns 10,920 shares of the company’s stock valued at $189,000 after buying an additional 548 shares during the period. International Private Wealth Advisors LLC boosted its stake in shares of Conagra Brands by 4.9% during the 4th quarter. International Private Wealth Advisors LLC now owns 13,153 shares of the company’s stock worth $228,000 after acquiring an additional 609 shares during the period. All Terrain Financial Advisors LLC increased its holdings in shares of Conagra Brands by 0.3% during the 4th quarter. All Terrain Financial Advisors LLC now owns 176,971 shares of the company’s stock worth $3,063,000 after acquiring an additional 609 shares during the last quarter. Blair William & Co. IL increased its holdings in shares of Conagra Brands by 0.5% during the 3rd quarter. Blair William & Co. IL now owns 136,235 shares of the company’s stock worth $2,494,000 after acquiring an additional 633 shares during the last quarter. Finally, Jackson Hole Capital Partners LLC raised its stake in Conagra Brands by 4.1% in the 4th quarter. Jackson Hole Capital Partners LLC now owns 17,960 shares of the company’s stock valued at $311,000 after acquiring an additional 701 shares during the period. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Stock Performance

CAG opened at $14.06 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.90 and a quick ratio of 0.30. The business has a fifty day simple moving average of $13.71 and a 200 day simple moving average of $16.06. Conagra Brands has a 1 year low of $12.53 and a 1 year high of $21.37. The company has a market capitalization of $6.73 billion, a PE ratio of -140.59, a price-to-earnings-growth ratio of -0.85 and a beta of -0.02.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Wednesday, April 1st. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.01). Conagra Brands had a positive return on equity of 10.15% and a negative net margin of 0.39%.The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter in the previous year, the business earned $0.51 EPS. The firm’s quarterly revenue was down 1.9% on a year-over-year basis. Research analysts expect that Conagra Brands will post 1.7 EPS for the current year.

Conagra Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Thursday, April 30th were paid a $0.35 dividend. The ex-dividend date was Thursday, April 30th. This represents a $1.40 annualized dividend and a dividend yield of 10.0%. Conagra Brands’s dividend payout ratio is -1,400.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Morgan Stanley cut their price target on Conagra Brands from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Friday, June 5th. Weiss Ratings raised shares of Conagra Brands from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, June 11th. BTIG Research began coverage on shares of Conagra Brands in a research note on Monday, April 13th. They set a “neutral” rating for the company. UBS Group reduced their target price on shares of Conagra Brands from $16.00 to $13.00 and set a “neutral” rating for the company in a report on Tuesday, June 2nd. Finally, Wells Fargo & Company decreased their price target on shares of Conagra Brands from $14.00 to $13.00 and set an “underweight” rating on the stock in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat.com, Conagra Brands presently has a consensus rating of “Reduce” and a consensus target price of $14.13.

Insider Transactions at Conagra Brands

In other Conagra Brands news, Director John J. Mulligan acquired 17,500 shares of the business’s stock in a transaction on Tuesday, April 14th. The stock was purchased at an average price of $14.31 per share, with a total value of $250,425.00. Following the acquisition, the director directly owned 20,728 shares of the company’s stock, valued at approximately $296,617.68. This trade represents a 542.13% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard H. Lenny bought 25,000 shares of the firm’s stock in a transaction on Tuesday, April 14th. The shares were acquired at an average price of $14.34 per share, for a total transaction of $358,500.00. Following the transaction, the director owned 229,340 shares in the company, valued at approximately $3,288,735.60. This represents a 12.23% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.57% of the stock is currently owned by company insiders.

Conagra Brands Company Profile

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.