Deutsche Bank AG Lowers ConAgra Foods Inc. (CAG) Price Target to $46.00
ConAgra Foods Inc. (NYSE:CAG) had its price target decreased by research analysts at Deutsche Bank AG from $48.00 to $46.00 in a note issued to investors on Friday. The firm currently has a “hold” rating on the stock. Deutsche Bank AG’s target price would suggest a potential upside of 5.53% from the company’s current price.
CAG has been the subject of a number of other research reports. Zacks Investment Research cut shares of ConAgra Foods from a “buy” rating to a “hold” rating in a research note on Monday, July 4th. TheStreet cut shares of ConAgra Foods from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 30th. Morgan Stanley restated an “overweight” rating on shares of ConAgra Foods in a research note on Wednesday, June 29th. Bank of America Corp. restated a “buy” rating and set a $52.00 target price on shares of ConAgra Foods in a research note on Monday. Finally, Jefferies Group restated a “buy” rating and set a $55.00 target price on shares of ConAgra Foods in a research note on Monday, July 4th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $49.18.
Shares of ConAgra Foods (NYSE:CAG) traded up 0.07% during mid-day trading on Friday, reaching $43.62. 1,776,974 shares of the company’s stock traded hands. ConAgra Foods has a 12 month low of $37.97 and a 12 month high of $48.81. The firm has a 50 day moving average price of $45.54 and a 200-day moving average price of $45.74. The stock’s market cap is $19.14 billion.
ConAgra Foods (NYSE:CAG) last announced its quarterly earnings data on Thursday, June 30th. The company reported $0.52 EPS for the quarter, meeting analysts’ consensus estimates of $0.52. ConAgra Foods had a negative net margin of 6.57% and a positive return on equity of 27.17%. The company earned $2.83 billion during the quarter. During the same period last year, the business earned $0.59 EPS. The business’s revenue was down 9.5% on a year-over-year basis. On average, analysts predict that ConAgra Foods will post $2.40 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Monday, October 31st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.29%. ConAgra Foods’s dividend payout ratio is currently -56.50%.
In related news, Director Rajive Johri sold 15,000 shares of ConAgra Foods stock in a transaction that occurred on Wednesday, July 6th. The shares were sold at an average price of $47.53, for a total transaction of $712,950.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Robert G. Wise sold 17,245 shares of ConAgra Foods stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $48.19, for a total transaction of $831,036.55. Following the sale, the senior vice president now directly owns 35,863 shares in the company, valued at $1,728,237.97. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the stock. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of ConAgra Foods during the second quarter valued at about $842,000. Kentucky Retirement Systems bought a new stake in shares of ConAgra Foods during the second quarter valued at about $1,774,000. Nomura Holdings Inc. raised its stake in shares of ConAgra Foods by 130.2% in the second quarter. Nomura Holdings Inc. now owns 126,875 shares of the company’s stock valued at $6,055,000 after buying an additional 71,752 shares during the period. Northwestern Mutual Investment Management Company LLC raised its stake in shares of ConAgra Foods by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 16,649 shares of the company’s stock valued at $796,000 after buying an additional 73 shares during the period. Finally, Mason Street Advisors LLC bought a new stake in shares of ConAgra Foods during the second quarter valued at about $2,810,000. 75.33% of the stock is currently owned by institutional investors.
ConAgra Foods Company Profile
ConAgra Foods, Inc operates as a packaged food company. The Company sells branded, private branded and customized food products, as well as commercially branded foods and ingredients. It also supplies frozen potato and sweet potato products, as well as other vegetable, spice and grain products to a range of restaurants, foodservice operators and commercial customers.
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