ConAgra Foods Inc. (NYSE:CAG) had its price target lifted by equities research analysts at Citigroup Inc. from $50.00 to $51.00 in a research note issued to investors on Friday. The brokerage presently has a “neutral” rating on the stock. Citigroup Inc.’s price target indicates a potential upside of 7.30% from the company’s current price.
Other analysts have also issued reports about the company. Zacks Investment Research raised 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. Jefferies Group reiterated a “buy” rating and set a $55.00 price target on shares of ConAgra Foods in a research report on Monday, July 4th. Bank of America Corp. reiterated a “buy” rating and set a $52.00 price target on shares of ConAgra Foods in a research report on Monday, September 19th. Deutsche Bank AG lowered their price target on ConAgra Foods from $48.00 to $46.00 and set a “hold” rating on the stock in a research report on Friday, September 23rd. Finally, TheStreet downgraded ConAgra Foods from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 30th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $50.10.
ConAgra Foods (NYSE:CAG) opened at 47.53 on Friday. The company has a market cap of $20.87 billion, a P/E ratio of 31.81 and a beta of 0.34. ConAgra Foods has a 52-week low of $37.97 and a 52-week high of $48.81. The stock’s 50 day moving average price is $45.21 and its 200 day moving average price is $45.84.
ConAgra Foods (NYSE:CAG) last posted its earnings results on Thursday, September 29th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.48 by $0.13. The firm had revenue of $2.67 billion for the quarter. ConAgra Foods had a return on equity of 28.48% and a net margin of 5.76%. The firm’s revenue was down 4.6% on a year-over-year basis. During the same period last year, the business earned $0.41 earnings per share. Analysts expect that ConAgra Foods will post $2.45 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Monday, October 31st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.10%. ConAgra Foods’s dividend payout ratio is presently 66.67%.
In related news, Director Stephen G. Butler sold 4,607 shares of the stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $48.10, for a total value of $221,596.70. Following the completion of the sale, the director now owns 89,850 shares of the company’s stock, valued at $4,321,785. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William G. Jurgensen sold 4,636 shares of the stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $47.88, for a total value of $221,971.68. The disclosure for this sale can be found here. 0.58% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of CAG. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in ConAgra Foods during the second quarter valued at approximately $842,000. Kentucky Retirement Systems acquired a new stake in ConAgra Foods during the second quarter valued at about $1,774,000. Nomura Holdings Inc. boosted its stake in ConAgra Foods by 130.2% in the second quarter. Nomura Holdings Inc. now owns 126,875 shares of the company’s stock valued at $6,055,000 after buying an additional 71,752 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its stake in ConAgra Foods by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 16,649 shares of the company’s stock valued at $796,000 after buying an additional 73 shares during the period. Finally, Mason Street Advisors LLC acquired a new stake in ConAgra Foods during the second quarter valued at about $2,810,000. 75.33% of the stock is owned by hedge funds and other institutional investors.
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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