Insider Selling: ConAgra Foods Director Unloads 7,827 Shares of Stock (CAG)
ConAgra Foods (NYSE:CAG) Director Mogens C. Bay sold 7,827 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $29.67, for a total transaction of $232,227.09. Following the completion of the transaction, the director now directly owns 67,454 shares of the company’s stock, valued at approximately $2,001,360. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of research firms have recently commented on CAG. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of ConAgra Foods in a research note on Monday, June 23rd. They now have a $28.00 price target on the stock, down previously from $32.00. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of ConAgra Foods in a research note on Thursday, June 19th. They now have a $35.00 price target on the stock, down previously from $36.00. Finally, analysts at Bank of America downgraded shares of ConAgra Foods from a “buy” rating to an “underperform” rating in a research note on Thursday, June 19th. They now have a $30.00 price target on the stock. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. ConAgra Foods currently has a consensus rating of “Hold” and an average target price of $32.92.
ConAgra Foods (NYSE:CAG) traded up 1.80% on Thursday, hitting $31.07. The stock had a trading volume of 6,877,506 shares. ConAgra Foods has a one year low of $28.09 and a one year high of $37.28. The stock’s 50-day moving average is $31.22 and its 200-day moving average is $31.12. The company has a market cap of $13.085 billion and a price-to-earnings ratio of 15.90. ConAgra Foods also was the target of some unusual options trading on Wednesday. Stock investors purchased 7,124 call options on the stock. This represents an increase of 253% compared to the average volume of 2,016 call options.
ConAgra Foods (NYSE:CAG) last posted its quarterly earnings results on Thursday, June 26th. The company reported $0.55 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.55. The company had revenue of $4.44 billion for the quarter, compared to the consensus estimate of $4.40 billion. During the same quarter last year, the company posted $0.60 earnings per share. ConAgra Foods’s revenue was down 2.8% compared to the same quarter last year. On average, analysts predict that ConAgra Foods will post $2.26 earnings per share for the current fiscal year.
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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