ConAgra Foods Inc. (NYSE:CAG) was upgraded by analysts at RBC Capital Markets from a “sector perform” rating to an “outperform” rating in a report released on Friday. The firm presently has a $54.00 price objective on the stock, up from their previous price objective of $50.00. RBC Capital Markets’ price objective would suggest a potential upside of 13.68% from the stock’s previous close. The analysts noted that the move was a valuation call.
Other analysts have also recently issued research reports about the stock. Jefferies Group restated a “buy” rating and issued a $56.00 price objective on shares of ConAgra Foods in a research report on Thursday, October 13th. Zacks Investment Research upgraded shares of ConAgra Foods from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research report on Wednesday, October 5th. Credit Suisse Group AG set a $50.00 price objective on shares of ConAgra Foods and gave the company a “hold” rating in a research report on Saturday, October 1st. TheStreet upgraded shares of ConAgra Foods from a “hold” rating to a “buy” rating in a research report on Thursday, September 29th. Finally, Citigroup Inc. upped their price objective on shares of ConAgra Foods from $50.00 to $51.00 and gave the company a “neutral” rating in a research report on Friday, September 30th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $50.91.
Shares of ConAgra Foods (NYSE:CAG) opened at 47.50 on Friday. The firm has a market cap of $20.79 billion, a PE ratio of 31.79 and a beta of 0.34. The firm has a 50 day moving average price of $45.44 and a 200-day moving average price of $46.06. ConAgra Foods has a 12 month low of $37.97 and a 12 month high of $48.81.
ConAgra Foods (NYSE:CAG) last issued its earnings results on Thursday, September 29th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.48 by $0.13. The company earned $2.67 billion during the quarter. ConAgra Foods had a net margin of 5.76% and a return on equity of 28.48%. The business’s revenue was down 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.41 EPS. On average, analysts predict that ConAgra Foods will post $2.47 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Monday, October 31st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.11%. ConAgra Foods’s dividend payout ratio is 66.67%.
Several institutional investors have recently bought and sold shares of CAG. Westbourne Investment Advisors Inc. purchased a new stake in shares of ConAgra Foods during the second quarter valued at about $100,000. Stuart Chaussee & Associates Inc. increased its stake 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 valued at $130,000 after buying an additional 1,680 shares during the period. Financial Architects Inc increased its stake 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 valued at $183,000 after buying an additional 1,600 shares during the period. Signature Estate & Investment Advisors LLC purchased a new stake in shares of ConAgra Foods during the second quarter valued at about $194,000. Finally, InterOcean Capital LLC purchased a new stake in shares of ConAgra Foods during the second quarter valued at about $201,000. Institutional investors own 75.62% 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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