First National Bank of Omaha Acquires New Position in Conagra Brands Inc (NYSE:CAG)

First National Bank of Omaha acquired a new stake in Conagra Brands Inc (NYSE:CAG) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 38,970 shares of the company’s stock, valued at approximately $1,196,000.

Several other institutional investors also recently made changes to their positions in the stock. Private Capital Group LLC raised its position in shares of Conagra Brands by 16.2% in the 2nd quarter. Private Capital Group LLC now owns 2,520 shares of the company’s stock valued at $90,000 after purchasing an additional 351 shares during the last quarter. Securian Asset Management Inc raised its position in shares of Conagra Brands by 0.7% in the 2nd quarter. Securian Asset Management Inc now owns 50,008 shares of the company’s stock valued at $1,326,000 after purchasing an additional 361 shares during the last quarter. Stephens Inc. AR raised its position in shares of Conagra Brands by 1.7% in the 3rd quarter. Stephens Inc. AR now owns 23,188 shares of the company’s stock valued at $711,000 after purchasing an additional 390 shares during the last quarter. Hartford Investment Management Co. raised its position in shares of Conagra Brands by 0.3% in the 2nd quarter. Hartford Investment Management Co. now owns 133,048 shares of the company’s stock valued at $3,528,000 after purchasing an additional 401 shares during the last quarter. Finally, Old North State Trust LLC raised its position in shares of Conagra Brands by 20.7% in the 2nd quarter. Old North State Trust LLC now owns 2,358 shares of the company’s stock valued at $63,000 after purchasing an additional 405 shares during the last quarter. 86.26% of the stock is owned by hedge funds and other institutional investors.

CAG opened at $27.44 on Friday. Conagra Brands Inc has a 12-month low of $20.22 and a 12-month high of $35.72. The company has a current ratio of 1.11, a quick ratio of 0.40 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $13.44 billion, a PE ratio of 13.65, a P/E/G ratio of 1.86 and a beta of 0.84. The firm has a 50 day moving average of $28.29 and a two-hundred day moving average of $28.69.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, September 26th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. Conagra Brands had a net margin of 6.68% and a return on equity of 12.34%. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.48 billion. During the same period last year, the firm posted $0.47 EPS. Conagra Brands’s revenue for the quarter was up 30.3% compared to the same quarter last year. As a group, analysts predict that Conagra Brands Inc will post 2.12 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 1st will be issued a dividend of $0.2125 per share. This represents a $0.85 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Thursday, October 31st. Conagra Brands’s dividend payout ratio (DPR) is 42.29%.

Several equities analysts recently commented on the stock. ValuEngine raised shares of Conagra Brands from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Citigroup raised their price target on shares of Conagra Brands from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Credit Suisse Group reissued a “hold” rating and set a $29.00 price target on shares of Conagra Brands in a research report on Thursday, September 19th. Goldman Sachs Group lowered shares of Conagra Brands from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $33.00 to $31.00 in a research report on Friday, September 6th. Finally, Barclays set a $33.00 price target on shares of Conagra Brands and gave the stock a “buy” rating in a research report on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $33.33.

In other news, COO Thomas M. Mcgough sold 26,099 shares of Conagra Brands stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $31.00, for a total transaction of $809,069.00. Following the completion of the transaction, the chief operating officer now directly owns 145,869 shares of the company’s stock, valued at approximately $4,521,939. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Colleen Batcheler sold 25,458 shares of Conagra Brands stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $30.00, for a total transaction of $763,740.00. Following the transaction, the executive vice president now directly owns 169,873 shares of the company’s stock, valued at $5,096,190. The disclosure for this sale can be found here. 0.84% of the stock is owned by insiders.

About Conagra Brands

Conagra Brands, Inc, together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.

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Institutional Ownership by Quarter for Conagra Brands (NYSE:CAG)

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