Other equities research analysts also recently issued reports about the company. Jefferies Group reaffirmed a buy rating and issued a $55.00 price target on shares of ConAgra Foods in a research report on Monday, July 4th. Zacks Investment Research raised ConAgra Foods from a hold rating to a buy rating and set a $52.00 price target on the stock in a research report on Wednesday, June 8th. Bank of America Corp. reaffirmed a buy rating and issued 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, Sanford C. Bernstein reaffirmed a market perform rating and issued a $49.00 price target on shares of ConAgra Foods in a research report on Wednesday, June 29th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $50.10.
Shares of ConAgra Foods (NYSE:CAG) opened at 47.53 on Thursday. ConAgra Foods has a 12 month low of $37.97 and a 12 month 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. The firm has a market capitalization of $20.87 billion, a PE ratio of 31.81 and a beta of 0.34.
ConAgra Foods (NYSE:CAG) last posted its earnings results 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. The firm had revenue of $2.67 billion for the quarter. ConAgra Foods had a net margin of 5.76% and a return on equity of 28.48%. The company’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.41 earnings per share. On average, equities analysts anticipate that ConAgra Foods will post $2.45 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Monday, October 31st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Thursday, October 27th. ConAgra Foods’s dividend payout ratio is 66.67%.
In other ConAgra Foods news, Director Rajive Johri sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $47.53, for a total transaction of $712,950.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Robert G. Wise sold 17,245 shares of the firm’s stock in a transaction dated Thursday, July 14th. The stock was sold at an average price of $48.19, for a total transaction of $831,036.55. Following the transaction, the senior vice president now owns 35,863 shares of the company’s stock, valued at approximately $1,728,237.97. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Westbourne Investment Advisors Inc. acquired a new position in shares of ConAgra Foods during the second quarter worth approximately $100,000. Stuart Chaussee & Associates Inc. boosted its position in shares of ConAgra Foods by 166.3% in the second quarter. Stuart Chaussee & Associates Inc. now owns 2,690 shares of the company’s stock worth $130,000 after buying an additional 1,680 shares in the last quarter. Financial Architects Inc boosted its position in shares of ConAgra Foods by 71.7% in the second quarter. Financial Architects Inc now owns 3,830 shares of the company’s stock worth $183,000 after buying an additional 1,600 shares in the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in shares of ConAgra Foods during the second quarter worth approximately $194,000. Finally, InterOcean Capital LLC acquired a new position in shares of ConAgra Foods during the second quarter worth approximately $201,000. Hedge funds and other institutional investors own 75.33% of the company’s stock.
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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