Retirement Systems of Alabama increased its stake in shares of ConAgra Foods Inc. (NYSE:CAG) by 1.1% during the second quarter, Holdings Channel reports. The firm owned 222,490 shares of the company’s stock after buying an additional 2,416 shares during the period. Retirement Systems of Alabama’s holdings in ConAgra Foods were worth $10,637,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Bank of Montreal Can bought a new position in ConAgra Foods during the second quarter valued at approximately $37,051,000. AXA raised its position in shares of ConAgra Foods by 81.4% in the first quarter. AXA now owns 148,600 shares of the company’s stock worth $6,631,000 after buying an additional 66,700 shares during the period. Simmons Bank acquired a new position in shares of ConAgra Foods during the first quarter worth about $492,000. Nuveen Asset Management LLC raised its position in shares of ConAgra Foods by 0.6% in the first quarter. Nuveen Asset Management LLC now owns 46,392 shares of the company’s stock worth $2,070,000 after buying an additional 272 shares during the period. Finally, Chevy Chase Trust Holdings Inc. raised its position in shares of ConAgra Foods by 1.8% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 373,564 shares of the company’s stock worth $17,860,000 after buying an additional 6,500 shares during the period. 75.33% of the stock is owned by institutional investors.
ConAgra Foods Inc. (NYSE:CAG) traded down 0.72% during mid-day trading on Wednesday, hitting $47.15. The stock had a trading volume of 4,037,673 shares. ConAgra Foods Inc. has a 1-year low of $37.97 and a 1-year high of $48.81. The company has a market cap of $20.70 billion, a P/E ratio of 31.56 and a beta of 0.34. The company has a 50-day moving average price of $45.28 and a 200 day moving average price of $45.88.
ConAgra Foods (NYSE:CAG) last posted its earnings results on Thursday, September 29th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.13. ConAgra Foods had a net margin of 5.76% and a return on equity of 28.48%. The company earned $2.67 billion during the quarter. During the same quarter last year, the firm posted $0.41 EPS. The business’s revenue was down 4.6% on a year-over-year basis. Equities research analysts forecast that ConAgra Foods Inc. will post $2.45 EPS for the current fiscal year.
The company also recently announced 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Thursday, October 27th. ConAgra Foods’s dividend payout ratio (DPR) is currently 66.67%.
CAG has been the subject of a number of recent analyst reports. 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 report on Wednesday, June 8th. Jefferies Group reissued 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. reissued a “buy” rating and issued a $52.00 price objective on shares of ConAgra Foods in a report on Monday, September 19th. TheStreet raised ConAgra Foods from a “hold” rating to a “buy” rating in a report on Thursday, September 29th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $48.00 price objective on shares of ConAgra Foods in a report on Wednesday, July 6th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $50.20.
In related news, SVP Robert G. Wise sold 17,245 shares of the firm’s stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $48.19, for a total value of $831,036.55. Following the completion of the sale, the senior vice president now owns 35,863 shares of the company’s stock, valued at $1,728,237.97. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William G. Jurgensen sold 4,636 shares of the firm’s stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $47.88, for a total transaction of $221,971.68. The disclosure for this sale can be found here. 0.58% of the stock is currently 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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