OLD National Bancorp IN Sells 45,921 Shares of Conagra Brands, Inc. (NYSE:CAG)

OLD National Bancorp IN reduced its holdings in Conagra Brands, Inc. (NYSE:CAG) by 16.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 227,904 shares of the company’s stock after selling 45,921 shares during the period. OLD National Bancorp IN’s holdings in Conagra Brands were worth $6,324,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. bought a new position in Conagra Brands during the fourth quarter valued at about $28,000. Hexagon Capital Partners LLC grew its holdings in shares of Conagra Brands by 82.8% during the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after purchasing an additional 420 shares in the last quarter. Grove Bank & Trust increased its position in shares of Conagra Brands by 65.4% during the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after purchasing an additional 447 shares during the period. Abich Financial Wealth Management LLC acquired a new position in shares of Conagra Brands in the third quarter valued at $47,000. Finally, ST Germain D J Co. Inc. lifted its position in Conagra Brands by 36.2% in the fourth quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company’s stock worth $55,000 after purchasing an additional 529 shares during the period. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CAG shares. Citigroup reduced their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Stifel Nicolaus decreased their price objective on Conagra Brands from $30.00 to $28.00 and set a “hold” rating on the stock in a report on Friday, January 24th. JPMorgan Chase & Co. lowered their price objective on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Barclays cut their target price on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Finally, BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Seven 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 stock. Based on data from MarketBeat, Conagra Brands currently has an average rating of “Hold” and an average target price of $30.33.

Conagra Brands Trading Up 1.5 %

CAG opened at $26.30 on Friday. The stock has a market capitalization of $12.55 billion, a P/E ratio of 25.78, a P/E/G ratio of 1.76 and a beta of 0.29. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. Conagra Brands, Inc. has a 12 month low of $25.06 and a 12 month high of $33.24. The firm’s fifty day simple moving average is $27.00 and its 200 day simple moving average is $29.08.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Thursday, December 19th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.71 earnings per share. As a group, research analysts anticipate that Conagra Brands, Inc. will post 2.46 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be paid a dividend of $0.35 per share. The ex-dividend date is Monday, January 27th. This represents a $1.40 annualized dividend and a dividend yield of 5.32%. Conagra Brands’s dividend payout ratio is currently 137.26%.

Conagra Brands Company Profile

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.