ConAgra Foods Inc. (NYSE:CAG) declared a quarterly dividend on Friday, September 23rd. Shareholders of record on Monday, October 31st will be paid a dividend of 0.25 per share on Wednesday, November 30th. This represents a $1.00 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Thursday, October 27th.
ConAgra Foods (NYSE:CAG) opened at 43.55 on Monday. The stock’s market cap is $19.11 billion. ConAgra Foods has a 52 week low of $37.97 and a 52 week high of $48.81. The firm has a 50-day moving average price of $45.45 and a 200-day moving average price of $45.74.
ConAgra Foods (NYSE:CAG) last announced its quarterly earnings data on Thursday, June 30th. The company reported $0.52 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.52. The firm had revenue of $2.83 billion for the quarter. ConAgra Foods had a positive return on equity of 27.17% and a negative net margin of 6.57%. The firm’s quarterly revenue was down 9.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.59 earnings per share. On average, equities research analysts predict that ConAgra Foods will post $2.40 EPS for the current year.
In other ConAgra Foods news, CFO John Gehring sold 159,057 shares of ConAgra Foods stock in a transaction dated 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 sale, the chief financial officer now owns 157,452 shares of the company’s stock, valued at approximately $7,579,739.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William G. Jurgensen sold 4,636 shares of ConAgra Foods stock in a transaction dated 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 company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Pine River Capital Management L.P. increased its stake in ConAgra Foods by 283.6% in the second quarter. Pine River Capital Management L.P. now owns 103,187 shares of the company’s stock valued at $4,933,000 after buying an additional 76,287 shares in the last quarter. Point72 Asia Hong Kong Ltd increased its stake in ConAgra Foods by 1,833.3% in the second quarter. Point72 Asia Hong Kong Ltd now owns 5,800 shares of the company’s stock valued at $277,000 after buying an additional 5,500 shares in the last quarter. Arizona State Retirement System increased its stake in ConAgra Foods by 13.3% in the second quarter. Arizona State Retirement System now owns 133,268 shares of the company’s stock valued at $6,372,000 after buying an additional 15,600 shares in the last quarter. AHL Partners LLP increased its stake in ConAgra Foods by 238.7% in the second quarter. AHL Partners LLP now owns 140,791 shares of the company’s stock valued at $6,731,000 after buying an additional 99,226 shares in the last quarter. Finally, EverPoint Asset Management LLC purchased a new stake in ConAgra Foods during the second quarter valued at about $3,237,000. 75.33% of the stock is currently owned by hedge funds and other institutional investors.
CAG has been the topic of a number of recent research reports. Jefferies Group increased their price objective on ConAgra Foods from $55.00 to $56.00 and gave the company a “buy” rating in a research report on Wednesday, July 27th. Citigroup Inc. reiterated a “neutral” rating and issued a $50.00 price objective on shares of ConAgra Foods in a research report on Thursday, June 30th. 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 note on Wednesday, June 8th. Deutsche Bank AG reissued a “hold” rating and issued a $48.00 price target on shares of ConAgra Foods in a research note on Wednesday, July 6th. Finally, Sanford C. Bernstein reissued a “market perform” rating and issued a $49.00 price target on shares of ConAgra Foods in a research note on Wednesday, June 29th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. ConAgra Foods presently has a consensus rating of “Hold” and a consensus target price of $49.30.
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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