Several brokerages have updated their recommendations and price targets on shares of ConAgra Foods (NYSE: CAG) in the last few weeks:
- 10/1/2016 – ConAgra Foods was given a new $50.00 price target on by analysts at Credit Suisse Group AG. They now have a “hold” rating on the stock.
- 9/30/2016 – ConAgra Foods had its price target raised by analysts at Citigroup Inc. from $50.00 to $51.00. They now have a “neutral” rating on the stock.
- 9/29/2016 – ConAgra Foods was upgraded by analysts at TheStreet from a “hold” rating to a “buy” rating.
- 9/23/2016 – ConAgra Foods had its price target lowered by analysts at Deutsche Bank AG from $48.00 to $46.00. They now have a “hold” rating on the stock.
- 9/19/2016 – ConAgra Foods had its “buy” rating reaffirmed by analysts at Bank of America Corp.. They now have a $52.00 price target on the stock.
ConAgra Foods Inc. (NYSE:CAG) opened at 47.53 on Tuesday. ConAgra Foods Inc. has a 1-year low of $37.97 and a 1-year high of $48.81. The company has a market capitalization of $20.87 billion, a P/E ratio of 31.81 and a beta of 0.34. The company has a 50-day moving average of $45.21 and a 200-day moving average of $45.84.
ConAgra Foods (NYSE:CAG) last issued its quarterly earnings data on Thursday, September 29th. The company reported $0.61 EPS for the quarter, topping 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 business earned $2.67 billion during the quarter. During the same period in the previous year, the business earned $0.41 earnings per share. The business’s quarterly revenue was down 4.6% on a year-over-year basis. Equities analysts expect that ConAgra Foods Inc. will post $2.45 EPS for the current fiscal year.
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. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.10%. ConAgra Foods’s payout ratio is currently 66.67%.
In related news, SVP Robert G. Wise sold 15,708 shares of ConAgra Foods stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $47.90, for a total transaction of $752,413.20. Following the completion of the transaction, the senior vice president now directly owns 34,326 shares of the company’s stock, valued at approximately $1,644,215.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Stephen G. Butler sold 4,607 shares of ConAgra Foods stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $48.10, for a total transaction of $221,596.70. Following the transaction, the director now directly owns 89,850 shares of the company’s stock, valued at $4,321,785. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by company insiders.
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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