Traders Sell ConAgra Foods Inc. (CAG) on Strength (CAG)
Traders 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 companies 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
A number of equities research analysts have recently weighed in on CAG shares. Zacks Investment Research upgraded ConAgra Foods from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research report on Wednesday, June 8th. Deutsche Bank AG reiterated a “hold” rating on shares of ConAgra Foods in a research report on Friday, June 24th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $50.00 price objective (up from $48.00) on shares of ConAgra Foods in a research report on Monday, June 27th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $49.00 price objective on shares of ConAgra Foods in a research report on Wednesday, June 29th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of ConAgra Foods in a research report on Wednesday, June 29th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $48.82.
The stock’s 50-day moving average price is $46.69 and its 200 day moving average price is $45.54. The company’s market capitalization is $20.46 billion.
ConAgra Foods (NYSE:CAG) last issued its quarterly earnings data on Thursday, June 30th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.52. The company had revenue of $2.83 billion for the quarter. ConAgra Foods’s revenue for the quarter was down 9.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.59 EPS. On average, equities analysts forecast that ConAgra Foods Inc. will post $2.41 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 31st. Shareholders of record on Friday, July 29th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, July 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.14%.
In other ConAgra Foods news, SVP Robert G. Wise sold 15,708 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $47.90, for a total transaction of $752,413.20. Following the sale, the senior vice president now directly owns 34,326 shares in the company, valued at $1,644,215.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Stephen G. Butler sold 4,607 shares of the company’s stock in a transaction that occurred on Thursday, July 7th. The shares were sold at an average price of $48.10, for a total value of $221,596.70. Following the sale, the director now owns 89,850 shares in the company, valued at $4,321,785. The disclosure for this sale can be found here.
An institutional investor recently raised its position in ConAgra Foods stock. BlackRock Advisors LLC increased its position in shares of ConAgra Foods Inc. (NYSE:CAG) by 25.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 reporting period.
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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