Prudential Financial Inc. Sells 11,562 Shares of ConAgra Foods Inc. (CAG)
Prudential Financial Inc. reduced its position in ConAgra Foods Inc. (NYSE:CAG) by 0.5% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 2,378,726 shares of the company’s stock after selling 11,562 shares during the period. Prudential Financial Inc. owned approximately 0.54% of ConAgra Foods worth $112,062,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently modified their holdings of CAG. Advisor Partners LLC boosted its stake in shares of ConAgra Foods by 0.4% in the third quarter. Advisor Partners LLC now owns 8,393 shares of the company’s stock valued at $395,000 after buying an additional 30 shares during the last quarter. Johnson Investment Counsel Inc. boosted its stake in shares of 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. Hedeker Wealth LLC bought a new stake in shares of ConAgra Foods during the third quarter valued at $764,000. Prospera Financial Services Inc boosted 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 last quarter. Finally, Alpha Windward LLC boosted its stake 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 valued at $134,000 after buying an additional 61 shares during the last quarter. 74.61% of the stock is owned by institutional investors and hedge funds.
ConAgra Foods Inc. (NYSE:CAG) opened at 37.66 on Tuesday. ConAgra Foods Inc. has a 12-month low of $29.55 and a 12-month high of $38.02. The stock has a 50 day moving average price of $36.86 and a 200-day moving average price of $36.19. The company has a market cap of $16.49 billion, a price-to-earnings ratio of 25.21 and a beta of 0.31.
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 analysts’ consensus estimates of $0.48 by $0.13. ConAgra Foods had a return on equity of 28.48% and a net margin of 5.76%. The company had revenue of $2.67 billion for the quarter. During the same quarter in the prior year, the firm earned $0.41 EPS. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. On average, analysts predict that ConAgra Foods Inc. will post $1.68 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Monday, October 31st will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, October 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.65%. ConAgra Foods’s dividend payout ratio is presently 66.67%.
Several equities research analysts have recently weighed in on CAG shares. Stifel Nicolaus increased their price target on ConAgra Foods from $46.00 to $52.00 and gave the company a “hold” rating in a research note on Wednesday, October 19th. RBC Capital Markets reissued an “outperform” rating and issued a $42.00 price target (down previously from $54.00) on shares of ConAgra Foods in a research note on Sunday, November 13th. Bank of America Corp. reissued a “buy” rating and issued a $52.00 price target on shares of ConAgra Foods in a research note on Monday, September 19th. Zacks Investment Research raised ConAgra Foods from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Wednesday, October 5th. Finally, TheStreet raised ConAgra Foods from a “hold” rating to a “buy” rating in a research note on Thursday, September 29th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $50.67.
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.
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