ConAgra Foods Inc. (CAG) Stock Rating Reaffirmed by Jefferies Group
ConAgra Foods Inc. (NYSE:CAG)‘s stock had its “buy” rating reiterated by analysts at Jefferies Group in a research report issued to clients and investors on Thursday. They currently have a $56.00 price target on the stock. Jefferies Group’s price target would indicate a potential upside of 19.35% from the stock’s current price.
A number of other research firms also recently commented on CAG. Citigroup Inc. boosted their price target on ConAgra Foods from $50.00 to $51.00 and gave the company a “neutral” rating in a research note on Friday, September 30th. TheStreet raised ConAgra Foods from a “hold” rating to a “buy” rating in a research note on Thursday, September 29th. Zacks Investment Research downgraded ConAgra Foods from a “buy” rating to a “hold” rating in a research note on Monday, July 4th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $48.00 price target on shares of ConAgra Foods in a research note on Wednesday, July 6th. Finally, Sanford C. Bernstein reissued a “market perform” rating and set a $49.00 target price on shares of ConAgra Foods in a research note on Wednesday, June 29th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $50.20.
Shares of ConAgra Foods (NYSE:CAG) traded down 0.64% on Thursday, hitting $46.92. 1,942,269 shares of the stock traded hands. The stock has a market cap of $20.54 billion, a PE ratio of 31.41 and a beta of 0.34. ConAgra Foods has a 1-year low of $37.97 and a 1-year high of $48.81. The stock has a 50 day moving average of $45.36 and a 200-day moving average of $46.00.
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ConAgra Foods (NYSE:CAG) last posted its quarterly earnings results on Thursday, September 29th. The company reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.13. The business earned $2.67 billion during the quarter. ConAgra Foods had a return on equity of 28.48% and a net margin of 5.76%. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period last year, the firm earned $0.41 EPS. On average, equities research analysts expect that ConAgra Foods will post $2.47 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Monday, October 31st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Thursday, October 27th. ConAgra Foods’s payout ratio is presently 66.67%.
In related news, SVP Robert G. Wise sold 15,708 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $47.90, for a total value of $752,413.20. Following the sale, the senior vice president now directly 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 accessible through this hyperlink. 0.58% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in CAG. Westbourne Investment Advisors Inc. bought a new stake in shares of ConAgra Foods during the second quarter valued at approximately $100,000. Stuart Chaussee & Associates Inc. boosted its stake in shares of ConAgra Foods by 166.3% in the second quarter. Stuart Chaussee & Associates Inc. now owns 2,690 shares of the company’s stock valued at $130,000 after buying an additional 1,680 shares during the last quarter. Financial Architects Inc boosted its stake in shares of ConAgra Foods by 71.7% in the second quarter. Financial Architects Inc now owns 3,830 shares of the company’s stock valued at $183,000 after buying an additional 1,600 shares during the last quarter. Signature Estate & Investment Advisors LLC bought a new stake in shares of ConAgra Foods during the second quarter valued at approximately $194,000. Finally, InterOcean Capital LLC bought a new stake in shares of ConAgra Foods during the second quarter valued at approximately $201,000. Institutional investors and hedge funds own 75.33% of the company’s stock.
ConAgra Foods Company Profile
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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