ConAgra Foods Inc. (CAG) Upgraded by Royal Bank Of Canada to Outperform
Royal Bank Of Canada upgraded shares of ConAgra Foods Inc. (NYSE:CAG) from a sector perform rating to an outperform rating in a report released on Friday morning. They currently have $54.00 target price on the stock, up from their prior target price of $50.00.
CAG has been the subject of several other research reports. Jefferies Group reaffirmed a buy rating and set a $56.00 price target on shares of ConAgra Foods in a research report on Thursday. Zacks Investment Research raised shares of ConAgra Foods from a hold rating to a buy rating and set a $53.00 price target for the company in a research report on Wednesday, October 5th. RBC Capital Markets raised shares of ConAgra Foods from a sector perform rating to an outperform rating and upped their price target for the company from $50.00 to $54.00 in a research report on Friday. They noted that the move was a valuation call. Bank of America Corp. reissued a buy rating and issued a $52.00 target price on shares of ConAgra Foods in a report on Monday, September 19th. Finally, Deutsche Bank AG reduced their target price on shares of ConAgra Foods from $48.00 to $46.00 and set a hold rating for the company in a report on Friday, September 23rd. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. ConAgra Foods has an average rating of Buy and an average target price of $50.91.
Shares of ConAgra Foods (NYSE:CAG) traded down 0.011% during midday trading on Friday, hitting $47.545. 803,247 shares of the stock were exchanged. The firm’s 50-day moving average is $45.40 and its 200 day moving average is $46.02. The firm has a market cap of $20.81 billion, a PE ratio of 31.824 and a beta of 0.34. ConAgra Foods has a 52-week low of $37.97 and a 52-week high of $48.81.
ConAgra Foods (NYSE:CAG) last released its quarterly earnings results on Thursday, September 29th. The company reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.13. ConAgra Foods had a net margin of 5.76% and a return on equity of 28.48%. The firm earned $2.67 billion during the quarter. During the same period in the previous year, the company earned $0.41 EPS. ConAgra Foods’s revenue for the quarter was down 4.6% compared to the same quarter last year. On average, analysts forecast that ConAgra Foods will post $2.47 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Monday, October 31st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.10%. ConAgra Foods’s dividend payout ratio is currently 66.67%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. First Financial Corp IN increased its position in ConAgra Foods by 14.9% in the third quarter. First Financial Corp IN now owns 42,941 shares of the company’s stock worth $2,023,000 after buying an additional 5,573 shares in the last quarter. Advisor Consultant Network Inc. purchased a new position in ConAgra Foods during the third quarter worth approximately $3,003,000. National Pension Service increased its position in ConAgra Foods by 8.8% in the third quarter. National Pension Service now owns 314,386 shares of the company’s stock worth $14,811,000 after buying an additional 25,430 shares in the last quarter. Parametrica Management Ltd purchased a new position in ConAgra Foods during the third quarter worth approximately $318,000. Finally, Nisa Investment Advisors LLC increased its position in ConAgra Foods by 1.6% in the third quarter. Nisa Investment Advisors LLC now owns 212,157 shares of the company’s stock worth $9,995,000 after buying an additional 3,400 shares in the last quarter. Hedge funds and other institutional investors own 75.62% of the company’s stock.
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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