ConAgra Foods Inc. (CAG) Shares Down 1.8%
Shares of ConAgra Foods Inc. (NYSE:CAG) were down 1.8% during mid-day trading on Tuesday . The company traded as low as $46.17 and last traded at $46.21, with a volume of 1,317,315 shares traded. The stock had previously closed at $47.05.
A number of analysts have issued reports on CAG shares. Zacks Investment Research upgraded shares of ConAgra Foods from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Wednesday, June 8th. Jefferies Group reiterated a “buy” rating and set a $55.00 price target on shares of ConAgra Foods in a research note on Monday, July 4th. Deutsche Bank AG reiterated a “hold” rating and set a $48.00 price target on shares of ConAgra Foods in a research note on Wednesday, July 6th. TheStreet lowered shares of ConAgra Foods from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 30th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and set a $49.00 price target on shares of ConAgra Foods in a research note on Wednesday, June 29th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the stock. ConAgra Foods currently has a consensus rating of “Hold” and an average target price of $48.82.
The firm has a 50 day moving average price of $47.05 and a 200-day moving average price of $45.31. The stock’s market cap is $20.29 billion.
ConAgra Foods (NYSE:CAG) last issued its quarterly earnings results on Thursday, June 30th. The company reported $0.52 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.52. The business earned $2.83 billion during the quarter. The company’s revenue was down 9.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.59 earnings per share. Equities research analysts predict that ConAgra Foods Inc. will post $2.41 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 31st. Shareholders of record on Friday, July 29th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Wednesday, July 27th.
In other ConAgra Foods news, SVP Robert G. Wise sold 15,708 shares of the firm’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $47.90, for a total value of $752,413.20. Following the sale, the senior vice president now directly owns 34,326 shares of the company’s stock, valued at approximately $1,644,215.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO John Gehring sold 159,057 shares of the firm’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $48.14, for a total value of $7,657,003.98. Following the completion of the sale, the chief financial officer now directly owns 157,452 shares in the company, valued at $7,579,739.28. The disclosure for this sale can be found here.
Other hedge funds have modified their holdings of the company. I.G. Investment Management LTD. raised its stake in shares of ConAgra Foods by 0.3% in the fourth quarter. I.G. Investment Management LTD. now owns 357,517 shares of the company’s stock worth $15,073,000 after buying an additional 1,073 shares during the last quarter. Calvert Investment Management Inc. raised its stake in shares of ConAgra Foods by 39.8% in the fourth quarter. Calvert Investment Management Inc. now owns 29,256 shares of the company’s stock worth $1,233,000 after buying an additional 8,335 shares during the last quarter. BlackRock Advisors LLC raised its stake in shares of ConAgra Foods by 25.4% in the fourth quarter. BlackRock Advisors LLC now owns 390,122 shares of the company’s stock worth $16,448,000 after buying an additional 79,078 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in shares of ConAgra Foods by 150.8% in the fourth quarter. BNP Paribas Arbitrage SA now owns 600,010 shares of the company’s stock worth $25,296,000 after buying an additional 360,734 shares during the last quarter.
ConAgra Foods, Inc operates as a packaged food company. The Company offers branded and private branded food to households, as well as commercial foods, which serves various restaurants and foodservice operations. The Company operates in three segments: Consumer Foods, Commercial Foods and Private Brands.
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