Conning Inc. increased its position in ConAgra Foods Inc. (NYSE:CAG) by 11.4% during the second quarter, Holdings Channel reports. The fund owned 11,146 shares of the company’s stock after buying an additional 1,140 shares during the period. Conning Inc.’s holdings in ConAgra Foods were worth $533,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of CAG. TIAA CREF Investment Management LLC raised its position in ConAgra Foods by 57.8% in the first quarter. TIAA CREF Investment Management LLC now owns 3,469,992 shares of the company’s stock worth $154,831,000 after buying an additional 1,271,416 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its position in ConAgra Foods by 27.7% in the first quarter. Adage Capital Partners GP L.L.C. now owns 5,756,906 shares of the company’s stock worth $256,873,000 after buying an additional 1,249,200 shares during the last quarter. NN Investment Partners Holdings N.V. bought a new position in ConAgra Foods during the first quarter worth approximately $50,727,000. Prudential Financial Inc. raised its position in ConAgra Foods by 75.3% in the first quarter. Prudential Financial Inc. now owns 2,290,182 shares of the company’s stock worth $102,188,000 after buying an additional 983,930 shares during the last quarter. Finally, Bank of Montreal Can bought a new position in ConAgra Foods during the second quarter worth approximately $37,051,000. 75.33% of the stock is owned by hedge funds and other institutional investors.
ConAgra Foods Inc. (NYSE:CAG) traded up 1.86% on Friday, hitting $47.11. The stock had a trading volume of 5,951,750 shares. ConAgra Foods Inc. has a 52-week low of $37.97 and a 52-week high of $48.81. The company’s 50 day moving average price is $45.18 and its 200 day moving average price is $45.78. The firm’s market cap is $20.67 billion.
ConAgra Foods (NYSE:CAG) last posted its quarterly earnings data 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 earned $2.67 billion during the quarter. ConAgra Foods had a return on equity of 28.71% and a net margin of 5.76%. The company’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter last year, the company earned $0.41 earnings per share. Analysts expect that ConAgra Foods Inc. will post $2.42 EPS for the current year.
The business 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 $0.25 dividend. The ex-dividend date is Thursday, October 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.12%. ConAgra Foods’s dividend payout ratio (DPR) is 66.67%.
CAG has been the subject of a number of analyst reports. Bank of America Corp. reaffirmed a “buy” rating and issued a $52.00 price target on shares of ConAgra Foods in a report on Monday, September 19th. Jefferies Group raised their price target on ConAgra Foods from $55.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, July 27th. Deutsche Bank AG reissued a “hold” rating on shares of ConAgra Foods in a research note on Friday, June 24th. TheStreet lowered ConAgra Foods from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 30th. Finally, Zacks Investment Research raised ConAgra Foods from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research note on Wednesday, June 8th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $49.40.
In other news, CFO John Gehring sold 159,057 shares of the company’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $48.14, for a total value of $7,657,003.98. Following the completion of the sale, the chief financial officer now directly owns 157,452 shares in the company, valued at approximately $7,579,739.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Robert G. Wise sold 36,654 shares of the company’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $48.16, for a total value of $1,765,256.64. Following the completion of the sale, the senior vice president now owns 55,272 shares of the company’s stock, valued at $2,661,899.52. The disclosure for this sale can be found here. 0.58% of the stock is owned by insiders.
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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