Chicago Equity Partners LLC boosted its stake in ConAgra Foods Inc. (NYSE:CAG) by 1,453.3% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 204,880 shares of the company’s stock after buying an additional 191,690 shares during the period. Chicago Equity Partners LLC’s holdings in ConAgra Foods were worth $7,327,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Waldron LP purchased a new stake in ConAgra Foods during the first quarter valued at about $216,000. Sumitomo Mitsui Asset Management Company LTD boosted its stake in ConAgra Foods by 3.9% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 33,659 shares of the company’s stock valued at $1,357,000 after buying an additional 1,258 shares in the last quarter. Advisory Services Network LLC purchased a new stake in ConAgra Foods during the first quarter valued at about $181,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake 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 valued at $2,698,000 after buying an additional 2,262 shares in the last quarter. Finally, Sfmg LLC boosted its stake in ConAgra Foods by 0.4% in the first quarter. Sfmg LLC now owns 12,754 shares of the company’s stock valued at $514,000 after buying an additional 50 shares in the last quarter. Institutional investors and hedge funds own 78.40% of the company’s stock.

ConAgra Foods Inc. (NYSE CAG) opened at 32.88 on Friday. ConAgra Foods Inc. has a 12-month low of $32.33 and a 12-month high of $48.86. The company has a market cap of $13.70 billion, a price-to-earnings ratio of 22.52 and a beta of 0.34. The company’s 50 day moving average is $33.92 and its 200 day moving average is $37.68.

ConAgra Foods (NYSE:CAG) last released its earnings results on Thursday, June 29th. The company reported $0.37 EPS for the quarter, hitting the consensus estimate of $0.37. ConAgra Foods had a net margin of 7.43% and a return on equity of 20.29%. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the firm earned $0.52 earnings per share. The company’s quarterly revenue was down 9.3% compared to the same quarter last year. Analysts forecast that ConAgra Foods Inc. will post $1.86 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Monday, July 31st were issued a $0.2125 dividend. This represents a $0.85 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend was Thursday, July 27th. This is an increase from ConAgra Foods’s previous quarterly dividend of $0.20. ConAgra Foods’s payout ratio is 57.82%.

ConAgra Foods announced that its board has initiated a share buyback plan on Thursday, June 29th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 6.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

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Several analysts have issued reports on CAG shares. Zacks Investment Research cut shares of ConAgra Foods from a “buy” rating to a “hold” rating in a research note on Monday, May 22nd. J P Morgan Chase & Co lowered their price objective 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. Jefferies Group LLC restated a “buy” rating on shares of ConAgra Foods in a research report on Friday, June 16th. Morgan Stanley restated an “overweight” rating and set a $42.00 price objective (down previously from $43.00) on shares of ConAgra Foods in a research report on Monday, June 26th. Finally, Bank of America Corporation restated a “buy” rating and set a $43.00 price objective (down previously from $44.00) 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 assigned a hold rating and eight have issued a buy rating to the company. ConAgra Foods has an average rating of “Hold” and a consensus price target of $42.72.

In related news, Director Stephen G. Butler sold 5,848 shares of the company’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $35.80, for a total transaction of $209,358.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ruth Ann Marshall sold 6,046 shares of the company’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $33.22, for a total transaction of $200,848.12. Following the sale, the director now directly owns 89,260 shares in the company, valued at approximately $2,965,217.20. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by 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.

Institutional Ownership by Quarter for ConAgra Foods (NYSE:CAG)

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