Enterprise Financial Services Corp cut its position in shares of ConAgra Foods Inc. (NYSE:CAG) by 1.2% during the second quarter, Holdings Channel reports. The firm owned 9,638 shares of the company’s stock after selling 120 shares during the period. Enterprise Financial Services Corp’s holdings in ConAgra Foods were worth $461,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Stuart Chaussee & Associates Inc. raised its position 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 raised its position 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 position in ConAgra Foods during the second quarter worth $225,000. Peregrine Asset Advisers Inc. raised its position 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, WealthTrust Axiom LLC raised its position in ConAgra Foods by 1.9% in the second quarter. WealthTrust Axiom LLC now owns 5,400 shares of the company’s stock worth $258,000 after buying an additional 100 shares during the period. 75.62% of the stock is currently owned by hedge funds and other institutional investors.
ConAgra Foods Inc. (NYSE:CAG) traded up 1.85% during mid-day trading on Tuesday, reaching $48.38. 4,202,054 shares of the company were exchanged. The company has a market capitalization of $21.18 billion, a PE ratio of 32.38 and a beta of 0.34. The stock has a 50-day moving average price of $45.44 and a 200 day moving average price of $46.06. ConAgra Foods Inc. has a one year low of $37.97 and a one year high of $48.81.
ConAgra Foods (NYSE:CAG) last announced its quarterly earnings results on Thursday, September 29th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.13. The company 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 business’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.41 EPS. Analysts predict that ConAgra Foods Inc. will post $2.47 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Monday, October 31st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Thursday, October 27th. ConAgra Foods’s payout ratio is 66.67%.
CAG has been the topic of a number of recent analyst reports. Bank of America Corp. reissued a “buy” rating and set a $52.00 price target on shares of ConAgra Foods in a research report on Monday, September 19th. Jefferies Group raised their price target on shares of ConAgra Foods from $55.00 to $56.00 and gave the company a “buy” rating in a research report on Wednesday, July 27th. TheStreet raised shares of ConAgra Foods from a “hold” rating to a “buy” rating in a research report on Thursday, September 29th. Zacks Investment Research raised shares of ConAgra Foods from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research report on Wednesday, October 5th. Finally, Deutsche Bank AG dropped their price target on shares of ConAgra Foods from $48.00 to $46.00 and set a “hold” rating on the stock in a research report on Friday, September 23rd. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $50.91.
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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