ConAgra Foods Inc. (NYSE:CAG) – Analysts at Jefferies Group increased their Q4 2017 earnings per share estimates for ConAgra Foods in a report issued on Monday. Jefferies Group analyst A. Jagdale now forecasts that the firm will post earnings of $0.61 per share for the quarter, up from their previous estimate of $0.58. Jefferies Group has a “Buy” rating and a $56.00 price target on the stock. Jefferies Group also issued estimates for ConAgra Foods’ Q3 2018 earnings at $0.74 EPS and FY2019 earnings at $3.03 EPS.
Several other equities analysts also recently issued reports on the stock. Bank of America Corp. reaffirmed a “buy” rating and set a $52.00 price target on shares of ConAgra Foods in a research note on Monday, September 19th. Deutsche Bank AG reaffirmed a “hold” rating on shares of ConAgra Foods in a research note on Friday, June 24th. TheStreet raised shares of ConAgra Foods from a “hold” rating to a “buy” rating in a research note on Thursday, September 29th. Zacks Investment Research raised shares of ConAgra Foods from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research note on Wednesday, June 8th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of ConAgra Foods in a research note on Wednesday, June 29th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $50.20.
Shares of ConAgra Foods (NYSE:CAG) traded down 0.57% during midday trading on Tuesday, reaching $47.22. 559,604 shares of the company’s stock traded hands. ConAgra Foods has a 12 month low of $37.97 and a 12 month high of $48.81. The stock has a 50 day moving average of $45.24 and a 200-day moving average of $45.87. The stock has a market cap of $20.73 billion, a P/E ratio of 31.61 and a beta of 0.34.
ConAgra Foods (NYSE:CAG) last issued its quarterly earnings results on Thursday, September 29th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.48 by $0.13. ConAgra Foods had a net margin of 5.76% and a return on equity of 28.48%. The firm had revenue of $2.67 billion for the quarter. During the same period last year, the firm earned $0.41 earnings per share. The company’s quarterly revenue was down 4.6% compared to the same quarter last year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in ConAgra Foods during the second quarter worth $842,000. Kentucky Retirement Systems acquired a new position in ConAgra Foods during the second quarter worth $1,774,000. Nomura Holdings Inc. raised its position in ConAgra Foods by 130.2% in the second quarter. Nomura Holdings Inc. now owns 126,875 shares of the company’s stock worth $6,055,000 after buying an additional 71,752 shares during the period. Northwestern Mutual Investment Management Company LLC raised its position in ConAgra Foods by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 16,649 shares of the company’s stock worth $796,000 after buying an additional 73 shares during the period. Finally, Mason Street Advisors LLC acquired a new position in ConAgra Foods during the second quarter worth $2,810,000. 75.33% of the stock is currently owned by hedge funds and other institutional investors.
In other ConAgra Foods news, SVP Robert G. Wise sold 15,708 shares of the firm’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $47.90, for a total value of $752,413.20. Following the transaction, the senior vice president now directly owns 34,326 shares of the company’s stock, valued at $1,644,215.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Robert G. Wise sold 17,245 shares of the firm’s stock in a transaction on Thursday, July 14th. The shares were sold at an average price of $48.19, for a total transaction of $831,036.55. Following the completion of the transaction, the senior vice president now directly owns 35,863 shares in the company, valued at $1,728,237.97. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by company insiders.
The firm 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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Thursday, October 27th. ConAgra Foods’s dividend payout ratio (DPR) is 66.67%.
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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