ConAgra Foods PT Lowered to $33.00 (CAG)
Sanford C. Bernstein dropped their price objective on shares of ConAgra Foods (NYSE:CAG) from $36.00 to $33.00 in a research note issued on Monday, AnalystRatings.Net reports. The firm currently has a “market perform” rating on the stock. Sanford C. Bernstein’s price objective would indicate a potential upside of 8.77% from the company’s current price.
Shares of ConAgra Foods (NYSE:CAG) traded up 0.23% during mid-day trading on Monday, hitting $30.34. The stock had a trading volume of 6,347,149 shares. ConAgra Foods has a one year low of $27.48 and a one year high of $37.28. The stock’s 50-day moving average is $33. and its 200-day moving average is $34.75. The company has a market cap of $12.776 billion and a price-to-earnings ratio of 19.22.
ConAgra Foods (NYSE:CAG) last issued its quarterly earnings data on Thursday, September 19th. The company reported $0.37 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.40 by $0.03. The company had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the prior year, the company posted $0.44 earnings per share. The company’s quarterly revenue was up 27.3% on a year-over-year basis. Analysts expect that ConAgra Foods will post $2.33 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, December 3rd. Investors of record on Thursday, October 31st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend is Tuesday, October 29th.
In other ConAgra Foods news, Director William Jurgensen sold 6,217 shares of ConAgra Foods stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $31.00, for a total transaction of $192,727.00. Following the transaction, the director now directly owns 84,856 shares in the company, valued at approximately $2,630,536. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of ConAgra Foods (NYSE:CAG) in a research note to investors on Thursday. They now have a $32.00 price target on the stock. Separately, analysts at Credit Suisse cut their price target on shares of ConAgra Foods (NYSE:CAG) from $36.00 to $34.00 in a research note to investors on Friday, September 20th. They now have a “neutral” rating on the stock. Finally, analysts at Goldman Sachs Group Inc. downgraded shares of ConAgra Foods (NYSE:CAG) from an “overweight” rating to a “neutral” rating in a research note to investors on Tuesday, September 17th. They now have a $34.00 price target on the stock, down previously from $36.00. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $36.75.
ConAgra Foods, Inc (NYSE:CAG) is a food company.
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