ConAgra Foods Target of Unusually Large Options Trading (CAG)
ConAgra Foods (NYSE:CAG) saw unusually large options trading activity on Tuesday. Investors acquired 10,160 call options on the company, American Banking & Market News reports. This is an increase of 278% compared to the average volume of 2,687 call options.
A number of analysts have recently weighed in on CAG shares. Analysts at Zacks downgraded shares of ConAgra Foods from a “neutral” rating to an “underperform” rating in a research note on Friday, July 18th. They now have a $28.00 price target on the stock. Separately, 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. Finally, 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. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. ConAgra Foods presently has a consensus rating of “Hold” and a consensus price target of $32.54.
ConAgra Foods (NYSE:CAG) remained flat at $31.89 during trading on Tuesday. 2,142,746 shares of the company’s stock traded hands. ConAgra Foods has a 52 week low of $28.09 and a 52 week high of $35.27. The stock has a 50-day moving average of $30.83 and a 200-day moving average of $30.60. The company has a market cap of $13.473 billion and a P/E ratio of 44.92.
ConAgra Foods (NYSE:CAG) last issued its quarterly earnings data 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. Analysts expect that ConAgra Foods will post $2.25 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 28th. Shareholders of record on Monday, July 28th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Thursday, July 24th.
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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