Traders Sell ConAgra Foods Inc. (CAG) on Strength (CAG)
Investors sold shares of ConAgra Foods Inc. (NYSE:CAG) on strength during trading on Thursday. $15.01 million flowed into the stock on the tick-up and $31.71 million flowed out of the stock on the tick-down, for a money net flow of $16.70 million out of the stock. Of all stocks tracked, ConAgra Foods had the 0th highest net out-flow for the day. ConAgra Foods traded up $0.28 for the day and closed at $46.61
Several analysts have recently issued reports on the stock. Zacks Investment Research raised shares of ConAgra Foods from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research note on Wednesday, June 8th. Jefferies Group reissued a “buy” rating and set a $55.00 price objective on shares of ConAgra Foods in a research note on Monday, July 4th. Deutsche Bank AG reissued a “hold” rating and set a $48.00 price objective on shares of ConAgra Foods in a research note on Wednesday, July 6th. TheStreet cut 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 reissued a “market perform” rating and set a $49.00 price objective on shares of ConAgra Foods in a research note on Wednesday, June 29th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $48.82.
The stock’s market cap is $20.19 billion. The company has a 50-day moving average price of $46.75 and a 200 day moving average price of $45.53.
ConAgra Foods (NYSE:CAG) last issued its quarterly earnings results on Thursday, June 30th. The company reported $0.52 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.52. The firm earned $2.83 billion during the quarter. The business’s quarterly revenue was down 9.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.59 EPS. Equities research analysts expect that ConAgra Foods Inc. will post $2.41 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 31st. Investors of record on Friday, July 29th were given a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, July 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.17%.
In related news, CFO John Gehring sold 159,057 shares of the company’s stock in a transaction that occurred on Tuesday, July 5th. The shares were 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 owns 157,452 shares in the company, valued at approximately $7,579,739.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Robert G. Wise sold 36,654 shares of the stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $48.16, for a total transaction of $1,765,256.64. Following the completion of the sale, the senior vice president now owns 55,272 shares of the company’s stock, valued at approximately $2,661,899.52. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in ConAgra Foods stock. BlackRock Advisors LLC increased its position in ConAgra Foods Inc. (NYSE:CAG) by 25.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 390,122 shares of the company’s stock after buying an additional 79,078 shares during the period. BlackRock Advisors LLC owned approximately 0.09% of ConAgra Foods worth $16,448,000 at the end of the most recent 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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