Analysts’ Weekly Ratings Updates for ConAgra Foods (CAG)
ConAgra Foods (NYSE: CAG) recently received a number of ratings updates from brokerages and research firms:
- 10/5/2016 – ConAgra Foods was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $53.00 price target on the stock. According to Zacks, “ConAgra's first-quarter fiscal 2017 earnings surpassed the Zacks Consensus Estimate by 21.7% and the year-ago tally by 48.8%. The remarkable improvement was witnessed on the back of meaningful restructuring initiatives. ConAgra is currently undergoing rigorous structural changes by divesting its less profitable businesses and acquiring new brands, for boosting revenues and margins. In sync with this strategy, the company intends to complete the divestiture of its Lamb Weston business by the fall of fiscal 2017. Henceforth, this will result in the formation of two separate pure play public companies – ConAgra Brands and Lamb Weston.”
- 10/1/2016 – ConAgra Foods was given a new $50.00 price target on by analysts at Credit Suisse Group AG. They now have a “hold” rating on the stock.
- 9/30/2016 – ConAgra Foods had its price target raised by analysts at Citigroup Inc. from $50.00 to $51.00. They now have a “neutral” rating on the stock.
- 9/29/2016 – ConAgra Foods was upgraded by analysts at TheStreet from a “hold” rating to a “buy” rating.
- 9/23/2016 – ConAgra Foods had its price target lowered by analysts at Deutsche Bank AG from $48.00 to $46.00. They now have a “hold” rating on the stock.
- 9/19/2016 – ConAgra Foods had its “buy” rating reaffirmed by analysts at Bank of America Corp.. They now have a $52.00 price target on the stock.
ConAgra Foods Inc. (NYSE:CAG) opened at 47.22 on Thursday. The company has a market capitalization of $20.67 billion, a price-to-earnings ratio of 31.61 and a beta of 0.34. The company has a 50 day moving average of $45.34 and a 200 day moving average of $45.99. ConAgra Foods Inc. has a 52 week low of $37.97 and a 52 week high of $48.81.
ConAgra Foods (NYSE:CAG) last announced its quarterly earnings results on Thursday, September 29th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.13. ConAgra Foods had a net margin of 5.76% and a return on equity of 28.48%. The company had revenue of $2.67 billion for the quarter. During the same quarter in the prior year, the firm posted $0.41 EPS. The company’s revenue for the quarter was down 4.6% on a year-over-year basis. On average, equities analysts forecast that ConAgra Foods Inc. will post $2.47 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Monday, October 31st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Thursday, October 27th. ConAgra Foods’s dividend payout ratio is presently 66.67%.
In related news, SVP Robert G. Wise sold 15,708 shares of the business’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $47.90, for a total value of $752,413.20. Following the sale, the senior vice president now owns 34,326 shares in the company, valued at $1,644,215.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.58% of the stock is currently owned by corporate insiders.
ConAgra Foods, Inc operates as a packaged food company. The Company sells branded, private branded and customized food products, as well as commercially branded foods and ingredients. It also supplies frozen potato and sweet potato products, as well as other vegetable, spice and grain products to a range of restaurants, foodservice operators and commercial customers.
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