Investors Sell ConAgra Foods Inc. (CAG) on Strength (CAG)
Investors sold shares of ConAgra Foods Inc. (NYSE:CAG) on strength during trading hours on Wednesday. $15.01 million flowed into the stock on the tick-up and $31.71 million flowed out of the stock on the tick-down, for a money net flow of $16.70 million out of the stock. Of all equities tracked, ConAgra Foods had the 0th highest net out-flow for the day. ConAgra Foods traded up $0.28 for the day and closed at $46.61
CAG has been the topic of several research reports. Deutsche Bank AG restated a “hold” rating on shares of ConAgra Foods in a report on Friday, June 24th. Jefferies Group raised their target price on shares of ConAgra Foods from $55.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, July 27th. TheStreet cut shares of ConAgra Foods from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 30th. Zacks Investment Research upgraded shares of ConAgra Foods from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a report on Wednesday, June 8th. Finally, Royal Bank Of Canada raised their target price on shares of ConAgra Foods from $48.00 to $50.00 and gave the stock a “sector perform” rating in a report on Sunday, July 3rd. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $48.82.
The stock’s market cap is $20.45 billion. The company’s 50 day moving average is $46.79 and its 200 day moving average is $45.53.
ConAgra Foods (NYSE:CAG) last issued its quarterly earnings results on Thursday, June 30th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.52. The company had revenue of $2.83 billion for the quarter. During the same quarter last year, the firm earned $0.59 EPS. The company’s quarterly revenue was down 9.5% compared to the same quarter last year. Analysts anticipate that ConAgra Foods Inc. will post $2.41 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 31st. Shareholders of record on Friday, July 29th were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, July 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.15%.
In other ConAgra Foods news, CFO John Gehring sold 159,057 shares of the company’s 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 transaction, the chief financial officer now owns 157,452 shares in the company, valued at approximately $7,579,739.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Robert G. Wise sold 15,708 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $47.90, for a total transaction of $752,413.20. Following the transaction, the senior vice president now owns 34,326 shares in the company, valued at approximately $1,644,215.40. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in ConAgra Foods stock. BlackRock Advisors LLC increased its position in shares of ConAgra Foods Inc. (NYSE:CAG) by 25.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 390,122 shares of the company’s stock after buying an additional 79,078 shares during the period. BlackRock Advisors LLC owned approximately 0.09% of ConAgra Foods worth $16,448,000 as of its most recent filing with the SEC.
ConAgra Foods, Inc operates as a packaged food company. The Company offers branded and private branded food to households, as well as commercial foods, which serves various restaurants and foodservice operations. The Company operates in three segments: Consumer Foods, Commercial Foods and Private Brands.
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