Compass Capital Management Inc. cut its position in shares of ConAgra Foods Inc. (NYSE:CAG) by 20.4% during the second quarter, Holdings Channel reports. The firm owned 38,065 shares of the company’s stock after selling 9,765 shares during the period. ConAgra Foods makes up 0.3% of Compass Capital Management Inc.’s portfolio, making the stock its 26th largest position. Compass Capital Management Inc.’s holdings in ConAgra Foods were worth $1,820,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Stuart Chaussee & Associates Inc. increased its stake in 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 during the period. Financial Architects Inc increased its stake in 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 during the period. YHB Investment Advisors Inc. acquired a new stake in ConAgra Foods during the second quarter worth about $225,000. Peregrine Asset Advisers Inc. increased its stake in ConAgra Foods by 2.5% in the first quarter. Peregrine Asset Advisers Inc. now owns 5,458 shares of the company’s stock worth $244,000 after buying an additional 133 shares during the period. Finally, CIBC World Markets Inc. acquired a new stake in ConAgra Foods during the first quarter worth about $251,000. Institutional investors own 75.33% of the company’s stock.
Shares of ConAgra Foods Inc. (NYSE:CAG) traded up 1.04% during midday trading on Monday, hitting $47.60. 3,613,200 shares of the stock were exchanged. ConAgra Foods Inc. has a 1-year low of $37.97 and a 1-year high of $48.81. The firm has a market capitalization of $20.90 billion, a price-to-earnings ratio of 31.86 and a beta of 0.34. The stock’s 50-day moving average price is $45.18 and its 200-day moving average price is $45.78.
ConAgra Foods (NYSE:CAG) last issued its quarterly earnings data on Thursday, September 29th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.13. ConAgra Foods had a return on equity of 28.48% and a net margin of 5.76%. The business had revenue of $2.67 billion for the quarter. During the same quarter last year, the business posted $0.41 earnings per share. ConAgra Foods’s revenue was down 4.6% on a year-over-year basis. On average, analysts forecast that ConAgra Foods Inc. will post $2.45 EPS for the current year.
The business also recently disclosed 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 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Thursday, October 27th. ConAgra Foods’s dividend payout ratio (DPR) is presently 66.67%.
A number of analysts have recently issued reports on CAG shares. Zacks Investment Research upgraded shares of ConAgra Foods from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Wednesday, June 8th. Jefferies Group reiterated a “buy” rating and issued a $55.00 price objective on shares of ConAgra Foods in a report on Monday, July 4th. Bank of America Corp. reiterated a “buy” rating and issued a $52.00 price objective on shares of ConAgra Foods in a report on Monday, September 19th. TheStreet upgraded shares of ConAgra Foods from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Deutsche Bank AG restated a “hold” rating and set a $48.00 target price on shares of ConAgra Foods in a report on Wednesday, July 6th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $50.10.
In other ConAgra Foods news, Director William G. Jurgensen sold 4,636 shares of the firm’s stock in a transaction on Friday, July 8th. The stock was sold at an average price of $47.88, for a total transaction of $221,971.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO John Gehring sold 159,057 shares of the firm’s stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $48.14, for a total value of $7,657,003.98. Following the transaction, the chief financial officer now owns 157,452 shares in the company, valued at $7,579,739.28. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.
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.
Want to see what other hedge funds are holding CAG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConAgra Foods Inc. (NYSE:CAG).
Receive News & Ratings for ConAgra Foods Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConAgra Foods Inc. and related companies with MarketBeat.com's FREE daily email newsletter.