CAG Conagra Brands, Inc.
Conagra Brands, Inc. engages in the manufacture and sale of processed and packaged foods. It operates through the following segments: Grocery and Snacks; Refrigerated and Frozen; International; Foodservice; and Pinnacle Foods. The Grocery and Snacks segment includes branded, shelf stable food products sold in various retail channels in the United States. The Refrigerated and Frozen segment comprises branded, temperature controlled food products sold in various retail channels in the United States. The International segment consists branded food products, in various temperature states, sold in various retail and foodservice channels outside of the United States. The Foodservice segment focuses in the branded and customized food products, including meals, entrees, sauces, and a variety of custom-manufactured culinary products packaged for sale to restaurants and other foodservice establishments in the United States. The Pinnacle Foods segment involves in the commercially branded and private label food and ingredients, in various temperature states, sold in various retail and foodservice channels in the United States and Canada. The company was founded by Alva Kinney and Frank Little in 1919 and is headquartered in Chicago, IL.
Company profile
Ticker
CAG
Exchange
Website
CEO
Sean M. Connolly
Employees
Incorporated in
Location
Fiscal year end
Industry (SEC)
Former names
Conagra Foods Inc, Conagra Inc
SEC CIK
Corporate docs
IRS number
470248710
CAG stock data
()
Calendar
31 Mar 20
2 Jul 20
31 May 21
News
Company financial data Financial data
| Quarter (USD) | Feb 20 | Nov 19 | Aug 19 | May 19 | |
|---|---|---|---|---|---|
| Revenue | 2.56B | 2.82B | 2.39B | 2.61B | |
| Net income | 204.4M | 260.5M | 173.8M | 126.5M | |
| Diluted EPS | 0.42 | 0.53 | 0.36 | 0.26 | |
| Net profit margin | 8.00% | 9.23% | 7.27% | 4.84% | |
| Operating income | 439.6M | 515.8M | 363.2M | 388.7M | |
| Net change in cash | -93M | 127.3M | -171.9M | -45.6M | |
| Cash on hand | 99M | 192M | 64.7M | 236.6M | |
| Cost of revenue | 1.87B | 2.02B | 1.73B | 1.91B |
| Annual (USD) | May 19 | May 18 | May 17 | May 16 | |
|---|---|---|---|---|---|
| Revenue | 9.54B | 7.94B | 7.83B | 1.5B | |
| Net income | 678.3M | 808.4M | 639.3M | -677M | |
| Diluted EPS | 1.52 | 1.98 | 1.46 | -1.56 | |
| Net profit margin | 7.11% | 10.18% | 8.17% | -45.13% | |
| Operating income | 1.64B | 1.41B | 1.24B | 1.22B | |
| Net change in cash | 108.6M | -123.4M | -546.7M | 664M | |
| Cash on hand | 236.6M | 128M | 251.4M | 798.1M | |
| Cost of revenue | 6.89B | 5.59B | 5.48B | 6.23B |
Financial data from company earnings reports
Recent insider trades
| Date | Owner | Security | Transaction | Code | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|
| 1 Jun 20 | Jana Partners | Common Stock | Grant | Aquire A | 0 | 4,453 | 0 | 10,862,824 |
| 1 Jun 20 | McGough Thomas M | Common Stock | Sell | Dispose S | 35 | 80,615 | 2.82M | 145,868.66 |
| 1 Jun 20 | McGough Thomas M | Common Stock | Option exercise | Aquire M | 18.42 | 80,615 | 1.48M | 226,483.66 |
| 1 Jun 20 | McGough Thomas M | Employee Stock Option Common Stock | Option exercise | Dispose M | 18.42 | 80,615 | 1.48M | 0 |
| 1 Jun 20 | Lenny Richard H | Common Stock | Grant | Aquire A | 0 | 12,618 | 0 | 95,745.78 |
| 1 Jun 20 | Omtvedt Craig P | Common Stock | Grant | Aquire A | 0 | 4,453 | 0 | 84,648 |
| 1 Jun 20 | Melissa Lora | Common Stock | Grant | Aquire A | 0 | 4,453 | 0 | 12,549 |
Institutional ownership Q1 2020
82.4% owned by funds/institutions
13F holders |
Current |
|---|---|
| Total holders | 659 |
| Opened positions | 76 |
| Closed positions | 130 |
| Increased positions | 201 |
| Reduced positions | 246 |
13F shares |
Current |
|---|---|
| Total value | 159.5B |
| Total shares | 401.16M |
| Total puts | 2.97M |
| Total calls | 5.32M |
| Total put/call ratio | 0.6 |
Largest owners |
Shares | Value |
|---|---|---|
| Vanguard | 58.61M | $1.72B |
| BLK BlackRock | 40.45M | $1.19B |
| Capital World Investors | 38.06M | $1.12B |
| N Price T Rowe Associates | 30M | $880.09M |
| MCQEF Macquarie | 29.16M | $855.45M |
| STT State Street | 21.87M | $641.56M |
| Jana Partners | 11.73M | $344.24M |
| FMR | 9.7M | $284.74M |
| Geode Capital Management | 7.62M | $223M |
| AMP Ameriprise Financial | 7.54M | $221.23M |
Financial report summary
?Competition
Hormel Foods • Dreyers Grand Ice Cream • Michael Foods • Hain Celestial • Inventure Foods • Dreyers Grand Ice Cream • New Midwest Company, LLC, • Michael Foods • Amplify Snack BrandsRisks
- Deterioration of general economic conditions could harm our business and results of operations.
- Disruption of our supply chain could have an adverse impact on our business, financial condition, and results of operations.
- We rely on our management team and other key personnel.
Management Discussion
- On October 26, 2018, we completed our acquisition of Pinnacle Foods Inc ("Pinnacle"), a branded packaged foods company specializing in shelf-stable and frozen foods (the "Pinnacle acquisition"). As a result of the acquisition, Pinnacle became a wholly-owned subsidiary of the Company. The total amount of consideration paid in connection with the acquisition was approximately $8.03 billion, consisting of cash and shares of our stock, as described in more detail in the section entitled "Acquisitions" below.
- In connection with the Pinnacle acquisition, we incurred approximately $8.33 billion of long-term debt and received cash proceeds of $575.0 million ($555.7 million net of related fees) from the issuance of common stock in an underwritten public offering. We used such proceeds for the payment of the cash portion of the Merger Consideration (as defined below), the repayment of Pinnacle debt acquired, the refinancing of certain Conagra Brands debt, and the payment of related fees and expenses.
- The integration of Pinnacle is continuing and on-track. We expect to achieve cost synergies of $285 million per year when the integration is concluded.
Content analysis
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H.S. junior Avg
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New words:
accessing, altogether, attempted, attract, aware, behavior, casual, climate, compete, constrained, costly, dedication, deterioration, dining, disaster, diverted, duration, elevated, entertainment, failure, fine, fire, franchise, freeze, fuel, home, ill, insufficient, leave, likelihood, lose, lost, move, national, opportunity, outbreak, pandemic, passed, rely, restaurant, shutdown, simplification, slight, slightly, soft, talented, team, terrorism, traffic, train, travel, undrawn, unemployment, warmer, wide, winter
Removed:
alternate, approximating, bank, bear, failed, greatest, iii, Intersegment, mature, penalty, prepay, prime, reserve, thirteen, voluntarily
Financial reports
10-Q
2020 Q3
Quarterly report
31 Mar 20
10-Q
2020 Q2
Quarterly report
2 Jan 20
10-Q
2020 Q1
Quarterly report
1 Oct 19
10-K
2019 FY
Annual report
19 Jul 19
10-Q
2019 Q3
Quarterly report
2 Apr 19
10-Q
2019 Q2
Quarterly report
3 Jan 19
10-Q
2019 Q1
Quarterly report
2 Oct 18
10-K
2018 FY
Annual report
20 Jul 18
10-Q
2018 Q3
Quarterly report
3 Apr 18
10-Q
2018 Q2
Quarterly report
4 Jan 18
Current reports
8-K
Conagra Brands Reports Strong Fourth Quarter and Full-year Results
30 Jun 20
8-K
Announces DebtPre-Payment and Secures Additional Liquidity
21 May 20
8-K
Entry into a Material Definitive Agreement
19 May 20
8-K
Other Events
19 May 20
8-K
Regulation FD Disclosure
15 May 20
8-K
Regulation FD Disclosure
8 Apr 20
8-K
Conagra Brands Reports Third Quarter Results
31 Mar 20
8-K
Management will Present at the 2020 CAGNY Conference on Tuesday, Feb. 18th
18 Feb 20
8-K
Other Events
4 Feb 20
8-K
Conagra Brands Reports Solid Second Quarter Results
19 Dec 19
Registration and prospectus
S-4MEF
Addition of securities to prior registration
23 Oct 18
424B5
Prospectus supplement for primary offering
17 Oct 18
FWP
Free writing prospectus
16 Oct 18
424B5
Prospectus supplement for primary offering
15 Oct 18
424B5
Prospectus supplement for primary offering
11 Oct 18
425
Business combination disclosure
10 Oct 18
425
Business combination disclosure
9 Oct 18
424B5
Prospectus supplement for primary offering
9 Oct 18
425
Business combination disclosure
9 Oct 18
S-3ASR
Automatic shelf registration
9 Oct 18
Proxies
DEFA14A
Additional proxy soliciting materials
9 Aug 19
DEF 14A
Definitive proxy
9 Aug 19
DEF 14A
Definitive proxy
9 Aug 18
DEFA14A
Additional proxy soliciting materials
9 Aug 18
DEF 14A
Definitive proxy
11 Aug 17
DEFA14A
Additional proxy soliciting materials
11 Aug 17
DEF 14A
Definitive proxy
10 Aug 16
DEFA14A
Additional proxy soliciting materials
10 Aug 16
DEF 14A
Definitive proxy
7 Aug 15
DEFA14A
Additional proxy soliciting materials
7 Aug 15
Other
EFFECT
Notice of effectiveness
17 Sep 18
UPLOAD
Letter from SEC
27 Apr 16
CORRESP
Correspondence with SEC
11 Jan 16
UPLOAD
Letter from SEC
29 Dec 15
CORRESP
Correspondence with SEC
3 Dec 15
UPLOAD
Letter from SEC
20 Nov 15
CORRESP
Correspondence with SEC
9 Oct 15
UPLOAD
Letter from SEC
25 Sep 15
EFFECT
Notice of effectiveness
5 Sep 13
UPLOAD
Letter from SEC
31 Jan 12
Ownership
SC 13G/A
CONAGRA BRANDS / Capital World Investors ownership change
10 Jun 20
4
CONAGRA BRANDS / RUTH ANN MARSHALL ownership change
4 Jun 20
4
CONAGRA BRANDS / STEPHEN G BUTLER ownership change
4 Jun 20
4
CONAGRA BRANDS / Anil Arora ownership change
3 Jun 20
4
CONAGRA BRANDS / THOMAS K BROWN ownership change
3 Jun 20
4
CONAGRA BRANDS / JOIE A GREGOR ownership change
3 Jun 20
4
CONAGRA BRANDS / Rajive Johri ownership change
3 Jun 20
4
CONAGRA BRANDS / MELISSA LORA ownership change
3 Jun 20
4
CONAGRA BRANDS / CRAIG P OMTVEDT ownership change
3 Jun 20
4
CONAGRA BRANDS / RICHARD H LENNY ownership change
3 Jun 20