ConAgra Foods Inc. (NYSE:CAG) had its price objective trimmed by Credit Suisse Group from $39.00 to $37.00 in a research note published on Monday. The firm currently has a neutral rating on the stock.

Several other research analysts also recently commented on the company. BidaskClub downgraded ConAgra Foods from a sell rating to a strong sell rating in a report on Saturday, August 26th. UBS AG reaffirmed a sell rating and set a $33.00 target price (down from $35.00) on shares of ConAgra Foods in a report on Friday, June 30th. J P Morgan Chase & Co reaffirmed an overweight rating and set a $42.00 target price (down from $44.00) on shares of ConAgra Foods in a report on Wednesday, June 28th. Bank of America Corporation reaffirmed a buy rating and set a $43.00 target price (down from $44.00) on shares of ConAgra Foods in a report on Monday, June 26th. Finally, Morgan Stanley reaffirmed an overweight rating and set a $42.00 target price (down from $43.00) on shares of ConAgra Foods in a report on Monday, June 26th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. ConAgra Foods currently has an average rating of Hold and an average price target of $42.41.

Shares of ConAgra Foods (CAG) opened at 33.34 on Monday. ConAgra Foods has a 12-month low of $32.16 and a 12-month high of $41.68. The company has a market cap of $13.89 billion, a P/E ratio of 22.84 and a beta of 0.33. The company has a 50-day moving average price of $34.12 and a 200-day moving average price of $37.15.

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

COPYRIGHT VIOLATION NOTICE: This news story was first posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this news story on another site, it was illegally stolen and reposted in violation of United States and international copyright laws. The legal version of this news story can be read at https://www.thecerbatgem.com/2017/09/28/credit-suisse-group-trims-conagra-foods-inc-cag-target-price-to-37-00.html.

ConAgra Foods announced that its Board of Directors has approved a share repurchase plan on Thursday, June 29th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase up to 6.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Friday, October 13th will be paid a $0.2125 dividend. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend is Monday, October 30th. ConAgra Foods’s dividend payout ratio is 57.82%.

In related news, Director Ruth Ann Marshall sold 6,046 shares of the business’s stock in a transaction dated 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 approximately $2,965,217.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen G. Butler sold 5,848 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $35.80, for a total value of $209,358.40. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in ConAgra Foods by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 46,312,610 shares of the company’s stock valued at $1,868,249,000 after buying an additional 1,175,244 shares in the last quarter. BlackRock Inc. increased its position in ConAgra Foods by 2,749.9% in the 1st quarter. BlackRock Inc. now owns 26,966,885 shares of the company’s stock valued at $1,087,846,000 after buying an additional 26,020,645 shares in the last quarter. Bank of New York Mellon Corp increased its position in ConAgra Foods by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 8,445,440 shares of the company’s stock valued at $302,009,000 after buying an additional 285,685 shares in the last quarter. American Century Companies Inc. increased its position in ConAgra Foods by 17.8% in the 2nd quarter. American Century Companies Inc. now owns 7,277,792 shares of the company’s stock valued at $260,254,000 after buying an additional 1,100,589 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its position in ConAgra Foods by 21.6% in the 1st quarter. TIAA CREF Investment Management LLC now owns 6,575,883 shares of the company’s stock valued at $265,271,000 after buying an additional 1,169,432 shares in the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

ConAgra Foods Company Profile

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.

Analyst Recommendations for ConAgra Foods (NYSE:CAG)

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.