ConAgra Foods Inc. (CAG) Rating Reiterated by Jefferies Group LLC
ConAgra Foods Inc. (NYSE:CAG)‘s stock had its “buy” rating restated by equities research analysts at Jefferies Group LLC in a research note issued to investors on Friday.
Several other research firms have also recently issued reports on CAG. Sanford C. Bernstein cut shares of ConAgra Foods from a “market perform” rating to an “underperform” rating and set a $36.00 price objective for the company. in a research report on Tuesday, March 21st. Royal Bank Of Canada boosted their price objective on shares of ConAgra Foods from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, March 24th. Zacks Investment Research raised shares of ConAgra Foods from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, J P Morgan Chase & Co lowered their price objective on shares of ConAgra Foods from $45.00 to $44.00 and set an “overweight” rating for the company in a research report on Wednesday, May 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $44.76.
Shares of ConAgra Foods (NYSE:CAG) opened at 37.52 on Friday. ConAgra Foods has a 12-month low of $33.61 and a 12-month high of $48.86. The stock has a market capitalization of $15.96 billion, a price-to-earnings ratio of 27.29 and a beta of 0.32. The stock’s 50 day moving average is $38.36 and its 200-day moving average is $39.34.
ConAgra Foods (NYSE:CAG) last released its quarterly earnings data on Thursday, March 23rd. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.04. The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.98 billion. ConAgra Foods had a net margin of 6.33% and a return on equity of 22.41%. The firm’s quarterly revenue was down 9.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.57 EPS. On average, analysts expect that ConAgra Foods will post $1.72 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 30th. Stockholders of record on Friday, April 28th were given a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, April 26th. This represents a $0.80 annualized dividend and a dividend yield of 2.13%. ConAgra Foods’s payout ratio is presently 57.97%.
In other news, Director Ruth Ann Marshall sold 6,046 shares of the company’s stock in a transaction that occurred on Wednesday, March 29th. The shares were sold at an average price of $40.61, for a total value of $245,528.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.58% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. acquired a new stake in shares of ConAgra Foods during the first quarter valued at $110,000. Advisors Asset Management Inc. boosted its stake in shares of ConAgra Foods by 75.7% in the first quarter. Advisors Asset Management Inc. now owns 2,987 shares of the company’s stock valued at $120,000 after buying an additional 1,287 shares during the last quarter. Alpha Windward LLC boosted its stake in shares of ConAgra Foods by 7.9% in the first quarter. Alpha Windward LLC now owns 3,382 shares of the company’s stock valued at $136,000 after buying an additional 247 shares during the last quarter. Rational Advisors LLC boosted its stake in shares of ConAgra Foods by 14.3% in the first quarter. Rational Advisors LLC now owns 3,507 shares of the company’s stock valued at $141,000 after buying an additional 438 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new stake in shares of ConAgra Foods during the first quarter valued at $181,000. 77.79% of the stock is owned by hedge funds and other institutional investors.
ConAgra Foods Company Profile
Conagra Brands, Inc, formerly ConAgra Foods, Inc, operates as a packaged food company. The Company operates through two segments: Consumer Foods and Commercial Foods. The Company sells branded and customized food products, as well as commercially branded foods. It also supplies vegetable, spice and grain products to a range of restaurants, foodservice operators and commercial customers.
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