ConAgra Foods Inc. (CAG) Upgraded to Buy by TheStreet
Other research analysts have also issued research reports about the stock. Jefferies Group reiterated a buy rating and issued a $55.00 price target on shares of ConAgra Foods in a research note on Monday, July 4th. 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. Bank of America Corp. restated a buy rating and set a $52.00 target price on shares of ConAgra Foods in a research report on Monday, September 19th. Deutsche Bank AG decreased their target price on shares of ConAgra Foods from $48.00 to $46.00 and set a hold rating on the stock in a research report on Friday, September 23rd. Finally, Sanford C. Bernstein restated a market perform rating and set a $49.00 target price on shares of ConAgra Foods in a research report on Wednesday, June 29th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. ConAgra Foods currently has a consensus rating of Hold and a consensus price target of $49.40.
ConAgra Foods (NYSE:CAG) traded up 1.86% on Thursday, reaching $47.11. 5,951,750 shares of the company traded hands. ConAgra Foods has a 52-week low of $37.97 and a 52-week high of $48.81. The stock has a 50-day moving average of $45.18 and a 200 day moving average of $45.78. The company’s market capitalization is $20.67 billion.
ConAgra Foods (NYSE:CAG) last announced its quarterly earnings results on Thursday, September 29th. The company reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.13. ConAgra Foods had a negative net margin of 6.57% and a positive return on equity of 27.17%. The business had revenue of $2.67 billion for the quarter. During the same quarter last year, the company posted $0.41 EPS. The firm’s quarterly revenue was down 4.6% on a year-over-year basis. On average, equities analysts forecast that ConAgra Foods will post $2.42 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Monday, October 31st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Thursday, October 27th. ConAgra Foods’s payout ratio is -56.50%.
In related news, Director Rajive Johri sold 15,000 shares of the stock in a transaction that occurred on Wednesday, July 6th. The shares were sold at an average price of $47.53, for a total value of $712,950.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO John Gehring sold 159,057 shares of the stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $48.14, for a total transaction of $7,657,003.98. Following the completion of the transaction, the chief financial officer now directly owns 157,452 shares of the company’s stock, valued at approximately $7,579,739.28. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the stock. Westbourne Investment Advisors Inc. bought a new position in shares of ConAgra Foods during the second quarter valued at approximately $100,000. Stuart Chaussee & Associates Inc. increased its position in shares of ConAgra Foods by 166.3% in the second quarter. Stuart Chaussee & Associates Inc. now owns 2,690 shares of the company’s stock valued at $130,000 after buying an additional 1,680 shares during the last quarter. Financial Architects Inc increased its position in shares of ConAgra Foods by 71.7% in the second quarter. Financial Architects Inc now owns 3,830 shares of the company’s stock valued at $183,000 after buying an additional 1,600 shares during the last quarter. Signature Estate & Investment Advisors LLC bought a new position in shares of ConAgra Foods during the second quarter valued at approximately $194,000. Finally, InterOcean Capital LLC bought a new position in shares of ConAgra Foods during the second quarter valued at approximately $201,000. 75.33% of the stock is owned by institutional investors and hedge funds.
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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