OLD National Bancorp IN Has $5.45 Million Stock Holdings in Conagra Brands $CAG

Key Points

• OLD National Bancorp IN increased its stake in Conagra Brands by 7.2%, owning approximately $5.45 million worth of stock by the end of the second quarter.
• Conagra Brands has faced mixed reviews from analysts, with price targets ranging from $19.00 to $26.00 and an overall consensus rating of "Reduce" with a target of $21.92.
• The company declared a quarterly dividend of $0.35 per share, providing an annualized yield of 7.3%, with the payment date set for November 26th.

OLD National Bancorp IN grew its stake in shares of Conagra Brands (NYSE:CAG - Free Report) by 7.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 266,121 shares of the company's stock after purchasing an additional 17,942 shares during the quarter. OLD National Bancorp IN owned about 0.06% of Conagra Brands worth $5,447,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Alpine Bank Wealth Management bought a new position in shares of Conagra Brands in the first quarter valued at $26,000. Capital Advisors Ltd. LLC lifted its stake in Conagra Brands by 82.3% in the first quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company's stock valued at $27,000 after acquiring an additional 452 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of Conagra Brands in the 1st quarter valued at about $27,000. Golden State Wealth Management LLC increased its stake in shares of Conagra Brands by 235.2% during the 1st quarter. Golden State Wealth Management LLC now owns 1,056 shares of the company's stock worth $28,000 after purchasing an additional 741 shares during the last quarter. Finally, Wayfinding Financial LLC bought a new stake in shares of Conagra Brands in the 1st quarter valued at about $34,000. Institutional investors own 83.75% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on CAG. Sanford C. Bernstein set a $21.00 price target on Conagra Brands and gave the stock a "market perform" rating in a report on Friday, July 11th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Conagra Brands in a research note on Saturday, September 27th. Stifel Nicolaus dropped their price target on Conagra Brands from $26.00 to $21.00 and set a "hold" rating on the stock in a research note on Friday, July 11th. Evercore ISI cut their price target on Conagra Brands from $24.00 to $23.00 and set an "in-line" rating for the company in a report on Wednesday, September 24th. Finally, UBS Group decreased their price objective on shares of Conagra Brands from $20.00 to $19.00 and set a "neutral" rating on the stock in a report on Wednesday, September 24th. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Conagra Brands has a consensus rating of "Reduce" and a consensus price target of $21.92.

Conagra Brands Trading Down 0.3%

Shares of Conagra Brands stock opened at $19.12 on Monday. The firm has a 50-day moving average of $18.97 and a 200-day moving average of $21.54. The stock has a market cap of $9.14 billion, a PE ratio of 10.86, a PEG ratio of 1.82 and a beta of 0.03. Conagra Brands has a 52-week low of $17.89 and a 52-week high of $30.47. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.44 and a current ratio of 1.06.

Conagra Brands (NYSE:CAG - Get Free Report) last released its quarterly earnings results on Wednesday, October 1st. The company reported $0.39 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.06. Conagra Brands had a net margin of 7.42% and a return on equity of 11.72%. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same period last year, the firm earned $0.53 earnings per share. Conagra Brands's revenue for the quarter was down 5.8% compared to the same quarter last year. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. As a group, sell-side analysts forecast that Conagra Brands will post 2.35 EPS for the current year.

Conagra Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Thursday, October 30th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date is Thursday, October 30th. Conagra Brands's payout ratio is presently 79.55%.

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.

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