Jefferies Group Reiterates “Buy” Rating for ConAgra Foods Inc. (CAG)
ConAgra Foods Inc. (NYSE:CAG)‘s stock had its “buy” rating reiterated by Jefferies Group in a research note issued on Thursday. They currently have a $56.00 target price on the stock. Jefferies Group’s price objective points to a potential upside of 17.77% from the stock’s current price.
Other analysts also recently issued reports about the company. Credit Suisse Group AG set a $50.00 target price on ConAgra Foods and gave the stock a “hold” rating in a research note on Saturday, October 1st. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $50.00 target price (up from $48.00) on shares of ConAgra Foods in a research note on Monday, June 27th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $49.00 target price on shares of ConAgra Foods in a research note on Wednesday, June 29th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $48.00 target price on shares of ConAgra Foods in a research note on Wednesday, July 6th. Finally, Citigroup Inc. reissued a “neutral” rating and set a $50.00 price objective on shares of ConAgra Foods in a research report on Thursday, June 30th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. ConAgra Foods currently has a consensus rating of “Buy” and a consensus target price of $50.91.
ConAgra Foods (NYSE:CAG) opened at 47.55 on Thursday. The company has a market capitalization of $20.82 billion, a P/E ratio of 31.83 and a beta of 0.34. The firm has a 50-day moving average of $45.40 and a 200-day moving average of $46.02. ConAgra Foods has a one year low of $37.97 and a one year high of $48.81.
ConAgra Foods (NYSE:CAG) last issued its earnings results on Thursday, September 29th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.13. ConAgra Foods had a return on equity of 28.48% and a net margin of 5.76%. The business earned $2.67 billion during the quarter. During the same period last year, the business earned $0.41 earnings per share. The firm’s revenue was down 4.6% compared to the same quarter last year. On average, analysts anticipate 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. Investors of record on Monday, October 31st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Thursday, October 27th. ConAgra Foods’s dividend payout ratio (DPR) is 66.67%.
A number of institutional investors have recently made changes to their positions in CAG. HBK Investments L P boosted its position in shares of ConAgra Foods by 13.1% in the first quarter. HBK Investments L P now owns 675,033 shares of the company’s stock worth $30,120,000 after buying an additional 78,437 shares during the period. Mariner Wealth Advisors LLC boosted its position in shares of ConAgra Foods by 0.9% in the first quarter. Mariner Wealth Advisors LLC now owns 38,153 shares of the company’s stock valued at $1,702,000 after buying an additional 332 shares during the last quarter. Prudential PLC bought a new position in shares of ConAgra Foods during the first quarter valued at about $5,570,000. Simmons Bank bought a new position in shares of ConAgra Foods during the first quarter valued at about $492,000. Finally, Geode Capital Management LLC boosted its position in shares of ConAgra Foods by 1.9% in the first quarter. Geode Capital Management LLC now owns 3,524,151 shares of the company’s stock valued at $156,930,000 after buying an additional 65,043 shares during the last quarter. 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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