Tocqueville Asset Management L.P. Sells 40,672 Shares of ConAgra Foods Inc. (CAG)
Tocqueville Asset Management L.P. reduced its stake in shares of ConAgra Foods Inc. (NYSE:CAG) by 13.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 270,908 shares of the company’s stock after selling 40,672 shares during the period. Tocqueville Asset Management L.P. owned approximately 0.06% of ConAgra Foods worth $12,952,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of CAG. State Street Corp raised its stake in ConAgra Foods by 3.2% in the first quarter. State Street Corp now owns 22,191,654 shares of the company’s stock valued at $990,189,000 after buying an additional 686,101 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in ConAgra Foods by 27.7% in the first quarter. Adage Capital Partners GP L.L.C. now owns 5,756,906 shares of the company’s stock valued at $256,873,000 after buying an additional 1,249,200 shares during the last quarter. Geode Capital Management LLC raised its stake in ConAgra Foods by 1.9% in the first quarter. Geode Capital Management LLC now owns 3,524,151 shares of the company’s stock valued at $156,930,000 after buying an additional 65,043 shares during the last quarter. Bank of Montreal Can purchased a new stake in ConAgra Foods during the second quarter valued at about $37,051,000. Finally, HBK Investments L P raised its stake in ConAgra Foods by 13.1% in the first quarter. HBK Investments L P now owns 675,033 shares of the company’s stock valued at $30,120,000 after buying an additional 78,437 shares during the last quarter. 75.33% of the stock is currently owned by institutional investors.
Shares of ConAgra Foods Inc. (NYSE:CAG) traded up 1.49% during mid-day trading on Friday, hitting $47.62. 2,135,403 shares of the stock were exchanged. ConAgra Foods Inc. has a one year low of $37.97 and a one year high of $48.81. The company has a 50-day moving average of $45.36 and a 200 day moving average of $46.00. The stock has a market cap of $20.85 billion, a PE ratio of 31.87 and a beta of 0.34.
ConAgra Foods (NYSE:CAG) last announced its quarterly earnings results on Thursday, September 29th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.13. ConAgra Foods had a net margin of 5.76% and a return on equity of 28.48%. The company had revenue of $2.67 billion for the quarter. During the same period last year, the company earned $0.41 EPS. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. On average, equities analysts predict that ConAgra Foods Inc. will post $2.47 earnings per share for the current 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 given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Thursday, October 27th. ConAgra Foods’s dividend payout ratio is presently 66.67%.
CAG has been the subject of several research analyst reports. Jefferies Group upped their price target on shares of ConAgra Foods from $55.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, July 27th. Citigroup Inc. upped their price target 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. TheStreet upgraded shares of ConAgra Foods from a “hold” rating to a “buy” rating in a research report on Thursday, September 29th. Zacks Investment Research downgraded shares of ConAgra Foods from a “buy” rating to a “hold” rating in a research report on Monday, July 4th. Finally, Deutsche Bank AG restated a “hold” rating and set a $48.00 price target on shares of ConAgra Foods in a research report on Wednesday, July 6th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $50.91.
About ConAgra Foods
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.