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

NYSE

Website

www.conagrabrands.com

CEO

Sean M. Connolly

Incorporated in

Delaware

Location

Illinois

Fiscal year end

May 31

Sector

Consumer Non-Durables > Food: Major Diversified

Industry (SEC)

Food and Kindred Products

Campbell Soup • Hain Celestial • Flowers Foods • B&G Foods • Mondelez International • Bellring Brands • The Simply Good Foods Co. • Beyond Meat • TDH • Zivo Bioscience ...

Former names

Conagra Foods Inc, Conagra Inc

SEC CIK

0000023217

Corporate docs

Articles of Incorporation & Bylaws

IRS number

470248710

CAG stock data

S&P 500

1M 1Y 2Y 5Y

FINRA relative short interest over last month (20 trading days) ?

Company financial data Financial data

Chart CAG 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

CAG insider ownership history Insider history

Date	Owner	Security	Transaction	Code	$Price	#Shares	$Value	#Remaining
2 Mar 20	Ruth Ann Marshall	Common Stock	Grant	Aquire A	28.24	1,062.32	30K	104,826.04
2 Mar 20	Stephen G Butler	Common Stock	Grant	Aquire A	28.24	1,062.32	30K	136,155.15
2 Mar 20	Anil Arora	Common Stock	Grant	Aquire A	28.24	442.63	12.5K	8,221.36
1 Mar 20	Jana Partners	Common Stock	Option exercise	Aquire M	0	2,228	0	11,732,835
1 Mar 20	Jana Partners	RSU Common Stock	Option exercise	Dispose M	0	2,228	0	0
1 Feb 20	Melissa Lora	Common Stock	Option exercise	Aquire M	0	2,841	0	2,906
1 Feb 20	Melissa Lora	RSU Common Stock	Option exercise	Dispose M	0	2,841	0	0

Data from 3, 4 and 5 filings. Stock values as filed, not updated for current price.

Institutional ownership Q4 2019

CAG institutional ownership history Ownership history

86.6% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	708	669	+5.8%
Opened positions	109	93	+17.2%
Closed positions	70	71	-1.4%
Increased positions	215	209	+2.9%
Reduced positions	242	232	+4.3%

13F shares	Current	Prev Q	Change
Total value	156.88B	160.25B	-2.1%
Total shares	421.37M	424.61M	-0.8%
Total puts	7.82M	6.29M	+24.2%
Total calls	8.04M	6.83M	+17.7%
Total put/call ratio	1.0	0.9	+5.5%

Largest owners	Shares	Value	Change
Vanguard	56.19M	$1.92B	+1.1%
BLK BlackRock	42.22M	$1.45B	+1.0%
N Price T Rowe Associates	36.88M	$1.26B	-25.4%
MCQEF Macquarie	33.85M	$1.16B	+10.4%
Capital World Investors	29.65M	$1.02B	+26.3%
STT State Street	21.94M	$751.36M	+0.2%
Jana Partners	14.96M	$512.29M	0.0%
FMR	11.35M	$388.78M	-6.9%
BK Bank Of New York Mellon	7.7M	$263.62M	-10.7%
Geode Capital Management	7.66M	$261.88M	+7.2%

Largest transactions	Shares	Bought/sold	Change
N Price T Rowe Associates	36.88M	-12.53M	-25.4%
Capital World Investors	29.65M	+6.17M	+26.3%
Norges Bank	4.68M	+4.68M	NEW
AMP Ameriprise Financial	6.29M	-3.57M	-36.2%
MCQEF Macquarie	33.85M	+3.19M	+10.4%
BEN Franklin Resources	2.55M	+2.54M	+19745.4%
First Trust Advisors	777.37K	-1.66M	-68.1%
Millennium Management	291.47K	-1.51M	-83.8%
MS^L Morgan Stanley	3.82M	+1.23M	+47.7%
NEU Neuberger Berman	720.24K	-1.16M	-61.7%

Data from 13F filings. Stock values as filed, not updated for current price. Long positions only.

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 Brands

Risks

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 ?

Positive
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Constraining
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Readability	H.S. junior Avg

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

From filing 10-Q 2020 Q3