ConAgra Foods Inc. (CAG) Given Buy Rating at Jefferies Group
Other 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 report on Saturday, October 1st. Royal Bank Of Canada reaffirmed a sector perform rating and set a $50.00 price objective (up from $48.00) on shares of ConAgra Foods in a research report on Monday, June 27th. Sanford C. Bernstein reaffirmed a market perform rating and set a $49.00 price objective on shares of ConAgra Foods in a research report on Wednesday, June 29th. Deutsche Bank AG reaffirmed a hold rating and set a $48.00 price objective on shares of ConAgra Foods in a research report on Wednesday, July 6th. Finally, Citigroup Inc. reaffirmed a neutral rating and set a $50.00 price objective on shares of ConAgra Foods in a research report on Thursday, June 30th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently 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 mid-day trading on Thursday, hitting $47.375. The stock had a trading volume of 1,023,094 shares. The firm has a market cap of $20.74 billion, a PE ratio of 31.710 and a beta of 0.34. The stock’s 50-day moving average price is $45.36 and its 200-day moving average price is $46.00. ConAgra Foods has a 52-week low of $37.97 and a 52-week high of $48.81.
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, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.13. The company 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.41 earnings per share. On average, analysts anticipate that ConAgra Foods will post $2.47 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Investors 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 yield of 2.13%. ConAgra Foods’s payout ratio is currently 66.67%.
A number of institutional investors have recently made changes to their positions in the company. National Pension Service raised its position in shares of 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 during the last quarter. Parametrica Management Ltd purchased a new position in shares of ConAgra Foods during the third quarter worth $318,000. Nisa Investment Advisors LLC raised its position in shares of 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 during the last quarter. Capstone Asset Management Co. raised its position in shares of 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 during the last quarter. Finally, Creative Planning raised its position in shares of 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 during the last quarter. 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.
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