ConAgra Foods Inc. (CAG) Given “Outperform” Rating at RBC Capital Markets
ConAgra Foods Inc. (NYSE:CAG)‘s stock had its “outperform” rating reaffirmed by RBC Capital Markets in a research report issued to clients and investors on Sunday. They presently have a $42.00 price target on the stock, down from their previous price target of $54.00. RBC Capital Markets’ price target suggests a potential upside of 20.24% from the stock’s previous close.
Several other research firms have also recently commented on CAG. Jefferies Group boosted their price target on ConAgra Foods from $55.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday, July 27th. Bank of America Corp. reiterated a “buy” rating and issued a $52.00 price target on shares of ConAgra Foods in a research note on Monday, September 19th. Deutsche Bank AG cut their price target on ConAgra Foods from $48.00 to $46.00 and set a “hold” rating on the stock in a research note on Friday, September 23rd. Citigroup Inc. boosted their price target on ConAgra Foods from $50.00 to $51.00 and gave the stock a “neutral” rating in a research note on Friday, September 30th. Finally, TheStreet upgraded ConAgra Foods from a “hold” rating to a “buy” rating in a research note on Thursday, September 29th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $50.67.
Shares of ConAgra Foods (NYSE:CAG) traded up 1.84% on Friday, hitting $34.93. The company’s stock had a trading volume of 9,027,885 shares. ConAgra Foods has a 1-year low of $29.55 and a 1-year high of $38.02. The company has a 50 day moving average of $36.48 and a 200 day moving average of $36.05. The firm has a market cap of $15.29 billion, a PE ratio of 23.38 and a beta of 0.31.
ConAgra Foods (NYSE:CAG) last issued its quarterly earnings data 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 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 company’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.41 EPS. Equities analysts forecast that ConAgra Foods will post $1.66 EPS for the current year.
The business 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. This represents a $1.00 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Thursday, October 27th. ConAgra Foods’s dividend payout ratio (DPR) is presently 66.67%.
Several institutional investors have recently bought and sold shares of the stock. Westbourne Investment Advisors Inc. bought a new position in ConAgra Foods during the second quarter valued at approximately $100,000. Stuart Chaussee & Associates Inc. raised its position 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 worth $130,000 after buying an additional 1,680 shares during the period. Alpha Windward LLC raised its position in shares of ConAgra Foods by 2.2% in the third quarter. Alpha Windward LLC now owns 2,838 shares of the company’s stock worth $134,000 after buying an additional 61 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of ConAgra Foods by 18.8% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,166 shares of the company’s stock worth $149,000 after buying an additional 500 shares during the period. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of ConAgra Foods during the third quarter worth about $159,000. 75.81% of the stock is owned by institutional investors.
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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