ConAgra Foods Inc. (CAG) Upgraded by RBC Capital Markets to “Outperform”
ConAgra Foods Inc. (NYSE:CAG) was upgraded by research analysts at RBC Capital Markets from a “sector perform” rating to an “outperform” rating in a research report issued on Friday.
Several other research firms have also recently weighed in on CAG. Jefferies Group increased their price objective on ConAgra Foods from $55.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, July 27th. Citigroup Inc. increased their price objective on ConAgra Foods from $50.00 to $51.00 and gave the stock a “neutral” rating in a report on Friday, September 30th. TheStreet upgraded ConAgra Foods from a “hold” rating to a “buy” rating in a report on Thursday, September 29th. Zacks Investment Research cut ConAgra Foods from a “buy” rating to a “hold” rating in a report on Monday, July 4th. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $48.00 price objective on shares of ConAgra Foods in a report on Wednesday, July 6th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. ConAgra Foods presently has a consensus rating of “Buy” and an average price target of $50.60.
ConAgra Foods (NYSE:CAG) opened at 46.92 on Friday. ConAgra Foods has a 12 month low of $37.97 and a 12 month high of $48.81. The stock has a market cap of $20.54 billion, a PE ratio of 31.41 and a beta of 0.34. The company’s 50 day moving average price is $45.36 and its 200 day moving average price is $46.00.
ConAgra Foods (NYSE:CAG) last released its quarterly earnings data on Thursday, September 29th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.13. ConAgra Foods had a return on equity of 28.48% and a net margin of 5.76%. The business earned $2.67 billion during the quarter. During the same quarter last year, the business posted $0.41 EPS. The company’s quarterly revenue was down 4.6% compared to the same quarter last year. Equities analysts forecast that ConAgra Foods will post $2.47 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Monday, October 31st will be paid 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 yield of 2.13%. ConAgra Foods’s dividend payout ratio is 66.67%.
A number of hedge funds have recently modified their holdings of the stock. Westbourne Investment Advisors Inc. acquired a new stake in shares of ConAgra Foods during the second quarter valued at approximately $100,000. Stuart Chaussee & Associates Inc. increased its stake in shares of 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 in the last quarter. Financial Architects Inc increased its stake 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 in the last quarter. Signature Estate & Investment Advisors LLC acquired a new stake in shares of ConAgra Foods during the second quarter valued at approximately $194,000. Finally, InterOcean Capital LLC acquired a new stake in shares of ConAgra Foods during the second quarter valued at approximately $201,000. Institutional investors and hedge funds 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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