ConAgra Foods CEO Gary M. Rodkin Sells 50,000 Shares (CAG)
ConAgra Foods (NYSE:CAG) CEO Gary M. Rodkin sold 50,000 shares of ConAgra Foods stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $30.17, for a total transaction of $1,508,500.00. Following the completion of the sale, the chief executive officer now directly owns 639,765 shares in the company, valued at approximately $19,301,710. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
CAG has been the subject of a number of recent research reports. Analysts at JPMorgan Chase & Co. raised their price target on shares of ConAgra Foods from $30.00 to $32.00 in a research note on Monday, April 28th. They now have a “neutral” rating on the stock. Separately, analysts at Zacks upgraded shares of ConAgra Foods from an “underperform” rating to a “neutral” rating in a research note on Tuesday, April 22nd. They now have a $33.00 price target on the stock. Finally, analysts at Zacks reiterated an “underperform” rating on shares of ConAgra Foods in a research note on Thursday, April 10th. They now have a $28.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $33.42.
ConAgra Foods (NYSE:CAG) traded up 2.12% during mid-day trading on Wednesday, hitting $30.83. 2,308,620 shares of the company’s stock traded hands. ConAgra Foods has a 52 week low of $28.09 and a 52 week high of $37.28. The stock’s 50-day moving average is $30.72 and its 200-day moving average is $31.4. The company has a market cap of $12.984 billion and a price-to-earnings ratio of 15.73.
ConAgra Foods (NYSE:CAG) last posted its quarterly earnings results on Thursday, March 20th. The company reported $0.62 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.60 by $0.02. The company had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.40 billion. During the same quarter last year, the company posted $0.55 earnings per share. ConAgra Foods’s revenue was up 14.5% compared to the same quarter last year. Analysts expect that ConAgra Foods will post $2.23 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, May 30th. Shareholders of record on Wednesday, April 30th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend is Monday, April 28th.
ConAgra Foods, Inc is a packaged food company. The Company operates in four segments: Consumer Foods, Commercial Foods, Ralcorp Food Group, and Ralcorp Frozen Bakery Products.
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