CAG has been the topic of a number of other reports. Citigroup Inc. raised their target price on shares of ConAgra Foods from $50.00 to $51.00 and gave the stock a neutral rating in a research report on Friday, September 30th. Zacks Investment Research raised shares of ConAgra Foods from a hold rating to a buy rating and set a $53.00 target price on the stock in a research report on Wednesday, October 5th. TheStreet lowered shares of ConAgra Foods from a strong-buy rating to a hold rating in a research report on Thursday, June 30th. Deutsche Bank AG reduced their target price 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. Finally, Bank of America Corp. reaffirmed a buy rating and set a $52.00 target price on shares of ConAgra Foods in a research report on Monday, September 19th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $50.91.
Shares of ConAgra Foods (NYSE:CAG) traded up 0.970% during trading on Thursday, reaching $47.375. 1,023,094 shares of the company were exchanged. The firm has a market capitalization of $20.74 billion, a PE ratio of 31.710 and a beta of 0.34. ConAgra Foods has a 1-year low of $37.97 and a 1-year high of $48.81. The company’s 50-day moving average is $45.36 and its 200 day moving average is $46.00.
ConAgra Foods (NYSE:CAG) last issued its earnings results on Thursday, September 29th. The company reported $0.61 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.13. The business 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 was down 4.6% compared to the same quarter last year. During the same period last year, the business posted $0.41 earnings per share. Equities research analysts expect that ConAgra Foods will post $2.47 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Monday, October 31st will be issued 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 2.13%. ConAgra Foods’s dividend payout ratio is currently 66.67%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. National Pension Service boosted its position in ConAgra Foods by 8.8% in the third quarter. National Pension Service now owns 314,386 shares of the company’s stock worth $14,811,000 after buying an additional 25,430 shares in the last quarter. Parametrica Management Ltd bought a new position in ConAgra Foods during the third quarter worth about $318,000. Nisa Investment Advisors LLC boosted its position in ConAgra Foods by 1.6% in the third quarter. Nisa Investment Advisors LLC now owns 212,157 shares of the company’s stock worth $9,995,000 after buying an additional 3,400 shares in the last quarter. Capstone Asset Management Co. boosted its position in ConAgra Foods by 7.7% in the third quarter. Capstone Asset Management Co. now owns 42,539 shares of the company’s stock worth $2,004,000 after buying an additional 3,050 shares in the last quarter. Finally, Creative Planning boosted its position in ConAgra Foods by 12.4% in the third quarter. Creative Planning now owns 102,734 shares of the company’s stock worth $4,840,000 after buying an additional 11,320 shares in the last quarter. 75.33% of the stock is owned by institutional investors and hedge funds.
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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