Prudential Financial Inc. Sells 11,562 Shares of ConAgra Foods Inc. (CAG)
Prudential Financial Inc. reduced its stake in ConAgra Foods Inc. (NYSE:CAG) by 0.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,378,726 shares of the company’s stock after selling 11,562 shares during the period. Prudential Financial Inc.’s holdings in ConAgra Foods were worth $112,062,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. Arizona State Retirement System increased its stake in ConAgra Foods by 2.3% in the first quarter. Arizona State Retirement System now owns 117,668 shares of the company’s stock valued at $5,250,000 after buying an additional 2,600 shares during the last quarter. Squarepoint Ops LLC acquired a new position in ConAgra Foods during the first quarter valued at about $725,000. Phocas Financial Corp. acquired a new position in ConAgra Foods during the first quarter valued at about $4,263,000. BlueMountain Capital Management LLC boosted its position in ConAgra Foods by 594.9% in the first quarter. BlueMountain Capital Management LLC now owns 6,588 shares of the company’s stock valued at $294,000 after buying an additional 5,640 shares during the period. Finally, Spirit of America Management Corp NY boosted its position in ConAgra Foods by 46.8% in the second quarter. Spirit of America Management Corp NY now owns 6,900 shares of the company’s stock valued at $330,000 after buying an additional 2,200 shares during the period. Institutional investors own 74.61% of the company’s stock.
Shares of ConAgra Foods Inc. (NYSE:CAG) opened at 37.66 on Tuesday. ConAgra Foods Inc. has a 52 week low of $29.55 and a 52 week high of $38.02. The firm has a 50-day moving average price of $36.86 and a 200-day moving average price of $36.19. The stock has a market cap of $16.49 billion, a price-to-earnings ratio of 25.21 and a beta of 0.31.
ConAgra Foods (NYSE:CAG) last posted its quarterly earnings data on Thursday, September 29th. The company reported $0.61 EPS for the quarter, topping 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 business earned $2.67 billion during the quarter. During the same quarter in the previous year, the firm posted $0.41 earnings per share. The company’s quarterly revenue was down 4.6% on a year-over-year basis. On average, equities analysts anticipate that ConAgra Foods Inc. will post $1.68 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Monday, October 31st will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, October 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.65%. ConAgra Foods’s dividend payout ratio is presently 66.67%.
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Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $55.00 price objective on shares of ConAgra Foods in a research report on Wednesday, November 9th. Stifel Nicolaus upped their price objective on ConAgra Foods from $46.00 to $52.00 and gave the company a “hold” rating in a research report on Wednesday, October 19th. Zacks Investment Research raised ConAgra Foods from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a research report on Wednesday, October 5th. Credit Suisse Group AG set a $50.00 price objective on ConAgra Foods and gave the company a “hold” rating in a research report on Saturday, October 1st. Finally, TheStreet raised ConAgra Foods from a “hold” rating to a “buy” rating in a research report on Thursday, September 29th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. ConAgra Foods presently has an average rating of “Buy” and a consensus price target of $50.67.
About ConAgra Foods
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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