ConAgra Foods Inc. (NYSE:CAG) Stake Held by American National Registered Investment Advisor Inc.
American National Registered Investment Advisor Inc. held its stake in shares of ConAgra Foods Inc. (NYSE:CAG) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 15,400 shares of the company’s stock at the end of the second quarter. American National Registered Investment Advisor Inc.’s holdings in ConAgra Foods were worth $551,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. purchased a new stake in shares of ConAgra Foods during the first quarter worth $110,000. Advisors Asset Management Inc. raised 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 worth $120,000 after buying an additional 1,287 shares during the last quarter. Alpha Windward LLC raised 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 worth $136,000 after buying an additional 247 shares during the last quarter. Rational Advisors LLC raised 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 worth $141,000 after buying an additional 438 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new stake in shares of ConAgra Foods during the first quarter worth $181,000. Institutional investors and hedge funds own 75.89% of the company’s stock.
ConAgra Foods Inc. (NYSE:CAG) opened at 33.51 on Wednesday. The stock has a market capitalization of $14.08 billion, a P/E ratio of 22.64 and a beta of 0.33. The firm’s 50-day moving average is $36.85 and its 200 day moving average is $38.87. ConAgra Foods Inc. has a 12 month low of $32.93 and a 12 month high of $48.86.
ConAgra Foods (NYSE:CAG) last posted its quarterly earnings results on Thursday, June 29th. The company reported $0.37 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.37. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.86 billion. ConAgra Foods had a net margin of 7.43% and a return on equity of 20.29%. The firm’s quarterly revenue was down 9.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.52 earnings per share. On average, equities analysts anticipate that ConAgra Foods Inc. will post $1.86 earnings per share for the current year.
ConAgra Foods announced that its Board of Directors has authorized a share buyback program on Thursday, June 29th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 6.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.
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A number of equities research analysts have recently weighed in on the stock. UBS AG restated a “sell” rating and issued a $33.00 price objective (down from $35.00) on shares of ConAgra Foods in a report on Friday, June 30th. J P Morgan Chase & Co reduced their price objective on shares of ConAgra Foods from $45.00 to $44.00 and set an “overweight” rating on the stock in a report on Wednesday, May 31st. Zacks Investment Research upgraded shares of ConAgra Foods from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Sanford C. Bernstein lowered shares of ConAgra Foods from a “market perform” rating to an “underperform” rating and set a $36.00 price objective on the stock. in a report on Tuesday, March 21st. Finally, Bank of America Corporation restated a “buy” rating and issued a $43.00 price objective (down from $44.00) on shares of ConAgra Foods in a report on Monday, June 26th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. ConAgra Foods has a consensus rating of “Hold” and an average price target of $42.72.
In other ConAgra Foods news, Director Ruth Ann Marshall sold 6,046 shares of the stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $33.22, for a total transaction of $200,848.12. Following the sale, the director now directly owns 89,260 shares of the company’s stock, valued at $2,965,217.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen G. Butler sold 5,848 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $35.80, for a total transaction of $209,358.40. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by corporate insiders.
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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