ConAgra Foods Inc. (CAG) Raised to “Outperform” at RBC Capital Markets
ConAgra Foods Inc. (NYSE:CAG) was upgraded by research analysts at RBC Capital Markets from a “sector perform” rating to an “outperform” rating in a research report issued on Friday, The Fly reports. The brokerage currently has a $54.00 target price on the stock, up from their previous target price of $50.00. RBC Capital Markets’ price objective would suggest a potential upside of 15.09% from the stock’s current price. The analysts noted that the move was a valuation call.
A number of other brokerages have also commented on CAG. Zacks Investment Research lowered ConAgra Foods from a “buy” rating to a “hold” rating in a report on Monday, July 4th. Jefferies Group restated a “buy” rating and issued a $55.00 price target on shares of ConAgra Foods in a report on Monday, July 4th. Royal Bank Of Canada boosted their price target on ConAgra Foods from $48.00 to $50.00 and gave the company a “sector perform” rating in a report on Sunday, July 3rd. TheStreet lowered ConAgra Foods from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 30th. Finally, Deutsche Bank AG reiterated a “hold” rating on shares of ConAgra Foods in a report on Friday, June 24th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $50.91.
Shares of ConAgra Foods (NYSE:CAG) opened at 46.92 on Friday. The company has a market cap of $20.54 billion, a P/E ratio of 31.41 and a beta of 0.34. The firm has a 50 day moving average price of $45.36 and a 200-day moving average price of $46.00. ConAgra Foods has a 12 month low of $37.97 and a 12 month high of $48.81.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/14/conagra-foods-inc-cag-upgraded-by-rbc-capital-markets-to-outperform.html
ConAgra Foods (NYSE:CAG) last issued its quarterly earnings results on Thursday, September 29th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.13. The company had revenue of $2.67 billion for the quarter. ConAgra Foods had a return on equity of 28.48% and a net margin of 5.76%. The business’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.41 earnings per share. Analysts anticipate that ConAgra Foods will post $2.47 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Monday, October 31st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Thursday, October 27th. ConAgra Foods’s payout ratio is 66.67%.
Institutional investors have recently bought and sold shares of the stock. Westbourne Investment Advisors Inc. bought a new stake in shares of ConAgra Foods during the second quarter worth about $100,000. Stuart Chaussee & Associates Inc. increased 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 worth $130,000 after buying an additional 1,680 shares in the last quarter. Financial Architects Inc increased 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 worth $183,000 after buying an additional 1,600 shares in the last quarter. Signature Estate & Investment Advisors LLC bought a new stake in shares of ConAgra Foods during the second quarter worth about $194,000. Finally, InterOcean Capital LLC bought a new stake in shares of ConAgra Foods during the second quarter worth about $201,000. 75.33% of the stock is currently owned by institutional investors.
About ConAgra Foods
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.
Receive News & Ratings for ConAgra Foods Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConAgra Foods Inc. and related companies with MarketBeat.com's FREE daily email newsletter.