ConAgra Foods Inc. (CAG) Shares Bought by Fjarde AP Fonden Fourth Swedish National Pension Fund
Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of ConAgra Foods Inc. (NYSE:CAG) by 28.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 95,293 shares of the company’s stock after buying an additional 20,985 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in ConAgra Foods were worth $3,408,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Commerzbank Aktiengesellschaft FI boosted its position in ConAgra Foods by 22.5% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 25,723 shares of the company’s stock worth $1,038,000 after buying an additional 4,722 shares during the last quarter. Sfmg LLC boosted its position in ConAgra Foods by 0.4% in the first quarter. Sfmg LLC now owns 12,754 shares of the company’s stock worth $514,000 after buying an additional 50 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in ConAgra Foods by 3.5% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 66,893 shares of the company’s stock worth $2,698,000 after buying an additional 2,262 shares during the last quarter. Advisory Services Network LLC bought a new position in ConAgra Foods during the first quarter worth $181,000. Finally, Advisor Partners LLC boosted its position in ConAgra Foods by 18.5% in the first quarter. Advisor Partners LLC now owns 10,482 shares of the company’s stock worth $423,000 after buying an additional 1,633 shares during the last quarter. Hedge funds and other institutional investors own 78.40% of the company’s stock.
Shares of ConAgra Foods Inc. (NYSE CAG) opened at 32.43 on Wednesday. The stock has a market cap of $13.51 billion, a PE ratio of 22.21 and a beta of 0.32. ConAgra Foods Inc. has a 52 week low of $32.29 and a 52 week high of $48.86. The stock has a 50 day moving average of $34.02 and a 200-day moving average of $37.93.
ConAgra Foods (NYSE:CAG) last issued its earnings results on Thursday, June 29th. The company reported $0.37 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.37. ConAgra Foods had a return on equity of 20.29% and a net margin of 7.43%. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the company earned $0.52 EPS. The company’s revenue for the quarter was down 9.3% on a year-over-year basis. Equities research analysts predict that ConAgra Foods Inc. will post $1.86 earnings per share for the current fiscal year.
ConAgra Foods announced that its Board of Directors has initiated a share repurchase program on Thursday, June 29th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 6.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Monday, July 31st will be paid a $0.2125 dividend. The ex-dividend date is Thursday, July 27th. This is an increase from ConAgra Foods’s previous quarterly dividend of $0.20. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.62%. ConAgra Foods’s dividend payout ratio (DPR) is 57.82%.
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Several analysts have recently issued reports on the stock. Zacks Investment Research raised shares of ConAgra Foods from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Jefferies Group LLC reissued a “buy” rating on shares of ConAgra Foods in a research report on Friday, June 16th. J P Morgan Chase & Co lowered their price target on shares of ConAgra Foods from $45.00 to $44.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 31st. Bank of America Corporation reissued a “buy” rating and issued a $43.00 price target (down previously from $44.00) on shares of ConAgra Foods in a research report on Monday, June 26th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $42.00 price target (down previously from $43.00) on shares of ConAgra Foods in a research report on Monday, June 26th. Three analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $42.72.
In other ConAgra Foods news, Director Stephen G. Butler sold 5,848 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $35.80, for a total value of $209,358.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ruth Ann Marshall sold 6,046 shares of the firm’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $33.22, for a total value of $200,848.12. Following the completion of the sale, the director now directly owns 89,260 shares of the company’s stock, valued at $2,965,217.20. The disclosure for this sale can be found here. 0.79% of the stock is owned by company insiders.
About ConAgra Foods
Conagra Brands, Inc, formerly ConAgra Foods, Inc, operates as a packaged food company. The Company operates through two segments: Consumer Foods and Commercial Foods. The Company sells branded and customized food products, as well as commercially branded foods. It also supplies vegetable, spice and grain products to a range of restaurants, foodservice operators and commercial customers.
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