Diligent Investors LLC maintained its stake in ConAgra Foods Inc. (NYSE:CAG) during the second quarter, Holdings Channel reports. The institutional investor owned 7,200 shares of the company’s stock at the end of the second quarter. Diligent Investors LLC’s holdings in ConAgra Foods were worth $344,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in CAG. Stuart Chaussee & Associates Inc. boosted its stake in ConAgra Foods by 166.3% in the second quarter. Stuart Chaussee & Associates Inc. now owns 2,690 shares of the company’s stock valued at $130,000 after buying an additional 1,680 shares during the period. Financial Architects Inc boosted its position in shares of ConAgra Foods by 71.7% in the second quarter. Financial Architects Inc now owns 3,830 shares of the company’s stock valued at $183,000 after buying an additional 1,600 shares during the last quarter. YHB Investment Advisors Inc. purchased a new position in shares of ConAgra Foods during the second quarter valued at about $225,000. WealthTrust Axiom LLC boosted its position in shares of ConAgra Foods by 1.9% in the second quarter. WealthTrust Axiom LLC now owns 5,400 shares of the company’s stock valued at $258,000 after buying an additional 100 shares during the last quarter. Finally, Peregrine Asset Advisers Inc. boosted its position in shares of ConAgra Foods by 2.5% in the first quarter. Peregrine Asset Advisers Inc. now owns 5,458 shares of the company’s stock valued at $244,000 after buying an additional 133 shares during the last quarter. 75.33% of the stock is currently owned by institutional investors.
Shares of ConAgra Foods Inc. (NYSE:CAG) traded down 0.72% during mid-day trading on Wednesday, reaching $47.15. The company had a trading volume of 4,037,673 shares. ConAgra Foods Inc. has a 52 week low of $37.97 and a 52 week high of $48.81. The company has a market capitalization of $20.70 billion, a price-to-earnings ratio of 31.56 and a beta of 0.34. The stock has a 50 day moving average of $45.24 and a 200-day moving average of $45.87.
ConAgra Foods (NYSE:CAG) last announced its quarterly earnings data on Thursday, September 29th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.13. The business had revenue of $2.67 billion for the quarter. ConAgra Foods had a return on equity of 28.48% and a net margin of 5.76%. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 earnings per share. On average, analysts expect that ConAgra Foods Inc. will post $2.45 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Monday, October 31st will be issued 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 is presently 66.67%.
Several research analysts have issued reports on CAG shares. Zacks Investment Research raised ConAgra Foods from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Wednesday, June 8th. Jefferies Group reissued a “buy” rating and issued a $55.00 target price on shares of ConAgra Foods in a research report on Monday, July 4th. Bank of America Corp. reissued a “buy” rating and issued a $52.00 target price on shares of ConAgra Foods in a research report on Monday, September 19th. TheStreet raised ConAgra Foods from a “hold” rating to a “buy” rating in a research report on Thursday, September 29th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $48.00 target price on shares of ConAgra Foods in a research report on Wednesday, July 6th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. ConAgra Foods presently has a consensus rating of “Buy” and a consensus price target of $50.20.
In other news, SVP Robert G. Wise sold 17,245 shares of the stock in a transaction dated Thursday, July 14th. The stock was sold at an average price of $48.19, for a total value of $831,036.55. Following the transaction, the senior vice president now directly owns 35,863 shares of the company’s stock, valued at $1,728,237.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen G. Butler sold 4,607 shares of the stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $48.10, for a total value of $221,596.70. Following the completion of the transaction, the director now directly owns 89,850 shares in the company, valued at $4,321,785. The disclosure for this sale can be found here. 0.58% of the stock is owned by insiders.
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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