ConAgra Foods Inc. (CAG) to Post Q2 2017 Earnings of $0.67 Per Share, Jefferies Group Forecasts
ConAgra Foods Inc. (NYSE:CAG) – Equities researchers at Jefferies Group increased their Q2 2017 earnings estimates for shares of ConAgra Foods in a report issued on Monday. Jefferies Group analyst A. Jagdale now anticipates that the brokerage will post earnings of $0.67 per share for the quarter, up from their previous forecast of $0.65. Jefferies Group has a “Buy” rating and a $56.00 price objective on the stock. Jefferies Group also issued estimates for ConAgra Foods’ FY2017 earnings at $2.57 EPS, Q1 2018 earnings at $0.61 EPS, Q2 2018 earnings at $0.74 EPS, Q4 2018 earnings at $0.67 EPS and FY2018 earnings at $2.77 EPS.
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. The firm earned $2.67 billion during the quarter. ConAgra Foods had a return on equity of 28.48% and a net margin of 5.76%. The business’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.41 earnings per share.
Other research analysts have also recently issued reports about the company. Credit Suisse Group AG set a $50.00 price objective on ConAgra Foods and gave the company a “hold” rating in a research note on Saturday. Zacks Investment Research upgraded shares of ConAgra Foods from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a report on Wednesday. Royal Bank Of Canada reiterated a “sector perform” rating and set a $50.00 target price (up from $48.00) on shares of ConAgra Foods in a report on Monday, June 27th. Sanford C. Bernstein reiterated a “market perform” rating and set a $49.00 target price on shares of ConAgra Foods in a report on Wednesday, June 29th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $48.00 target price on shares of ConAgra Foods in a report on Wednesday, July 6th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. ConAgra Foods presently has a consensus rating of “Buy” and a consensus target price of $50.20.
Shares of ConAgra Foods (NYSE:CAG) traded down 0.3441% during mid-day trading on Wednesday, reaching $47.3266. The company’s stock had a trading volume of 1,575,493 shares. The company has a 50-day moving average of $45.24 and a 200-day moving average of $45.87. The company has a market cap of $20.78 billion, a P/E ratio of 31.6778 and a beta of 0.34. ConAgra Foods has a 12 month low of $37.97 and a 12 month high of $48.81.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Monday, October 31st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.11%. ConAgra Foods’s payout ratio is 66.67%.
In other news, SVP Robert G. Wise sold 15,708 shares of ConAgra Foods stock in a transaction that occurred on 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 in the company, valued at $1,644,215.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Robert G. Wise sold 17,245 shares of ConAgra Foods stock in a transaction that occurred 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 transaction, the senior vice president now owns 35,863 shares of the company’s stock, valued at $1,728,237.97. The disclosure for this sale can be found here. Insiders own 0.58% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in CAG. Johnson Investment Counsel Inc. raised its position in ConAgra Foods by 0.3% in the second quarter. Johnson Investment Counsel Inc. now owns 10,776 shares of the company’s stock valued at $515,000 after buying an additional 31 shares during the last quarter. Prospera Financial Services Inc increased its stake in shares of ConAgra Foods by 0.7% in the second quarter. Prospera Financial Services Inc now owns 7,274 shares of the company’s stock valued at $348,000 after buying an additional 48 shares during the period. Northwestern Mutual Investment Management Company LLC increased its stake in shares of 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 valued at $796,000 after buying an additional 73 shares during the period. Advisor Partners LLC increased its stake in shares of ConAgra Foods by 1.1% in the second quarter. Advisor Partners LLC now owns 8,363 shares of the company’s stock valued at $400,000 after buying an additional 93 shares during the period. Finally, WealthTrust Axiom LLC increased its stake 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 period. Hedge funds and other institutional investors own 75.33% of the company’s stock.
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.
Receive News & Stock Ratings for ConAgra Foods Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConAgra Foods Inc. and related stocks with our FREE daily email newsletter.