OLD National Bancorp IN Has $6.32 Million Stake in Conagra Brands, Inc. (NYSE:CAG)

OLD National Bancorp IN lowered its position in Conagra Brands, Inc. (NYSE:CAG) by 16.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 227,904 shares of the company’s stock after selling 45,921 shares during the quarter. OLD National Bancorp IN’s holdings in Conagra Brands were worth $6,324,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CAG. Courier Capital LLC increased its position in Conagra Brands by 1.3% during the third quarter. Courier Capital LLC now owns 27,062 shares of the company’s stock worth $880,000 after buying an additional 355 shares during the last quarter. CWM LLC raised its stake in Conagra Brands by 0.4% in the 3rd quarter. CWM LLC now owns 87,222 shares of the company’s stock valued at $2,836,000 after acquiring an additional 359 shares during the period. Empirical Finance LLC lifted its holdings in Conagra Brands by 2.3% during the 3rd quarter. Empirical Finance LLC now owns 16,379 shares of the company’s stock valued at $533,000 after purchasing an additional 362 shares during the last quarter. Arkadios Wealth Advisors boosted its position in Conagra Brands by 0.7% during the third quarter. Arkadios Wealth Advisors now owns 52,769 shares of the company’s stock worth $1,716,000 after purchasing an additional 376 shares during the period. Finally, Bridgewater Advisors Inc. increased its holdings in shares of Conagra Brands by 1.5% in the third quarter. Bridgewater Advisors Inc. now owns 25,224 shares of the company’s stock valued at $820,000 after purchasing an additional 376 shares during the last quarter. Institutional investors own 83.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on CAG shares. Barclays reduced their target price on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. JPMorgan Chase & Co. reduced their price objective on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a research report on Friday, December 20th. Bank of America reduced their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Finally, Citigroup lowered their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 11th. Seven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $30.33.

Conagra Brands Stock Performance

CAG opened at $26.30 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. Conagra Brands, Inc. has a 52-week low of $25.06 and a 52-week high of $33.24. The firm has a market cap of $12.55 billion, a P/E ratio of 25.78, a price-to-earnings-growth ratio of 1.76 and a beta of 0.29. The business’s fifty day moving average is $27.00 and its 200-day moving average is $29.08.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The firm 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%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the prior year, the company posted $0.71 earnings per share. Sell-side analysts expect that Conagra Brands, Inc. will post 2.46 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.40 annualized dividend and a yield of 5.32%. Conagra Brands’s dividend 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.