ConAgra Foods Inc. (CAG) PT Raised to $52.00
ConAgra Foods Inc. (NYSE:CAG) had its target price increased by equities research analysts at Stifel Nicolaus from $46.00 to $52.00 in a research report issued on Wednesday. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 7.48% from the stock’s current price.
Other research analysts have also recently issued reports about the company. Credit Suisse Group AG set a $50.00 target price on ConAgra Foods and gave the stock a “hold” rating in a report on Saturday, October 1st. Royal Bank Of Canada restated a “sector perform” rating and set a $50.00 target price (up from $48.00) on shares of ConAgra Foods in a report on Monday, June 27th. Sanford C. Bernstein restated a “market perform” rating and set a $49.00 target price on shares of ConAgra Foods in a report on Wednesday, June 29th. Deutsche Bank AG reiterated a “hold” rating and issued a $48.00 price objective on shares of ConAgra Foods in a report on Wednesday, July 6th. Finally, Citigroup Inc. reiterated a “neutral” rating and issued a $50.00 price objective on shares of ConAgra Foods in a report on Thursday, June 30th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $51.00.
ConAgra Foods (NYSE:CAG) opened at 48.38 on Wednesday. ConAgra Foods has a 12-month low of $37.97 and a 12-month high of $48.81. The stock has a market capitalization of $21.18 billion, a P/E ratio of 32.38 and a beta of 0.34. The firm’s 50-day moving average price is $45.50 and its 200 day moving average price is $46.08.
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ConAgra Foods (NYSE:CAG) last issued its earnings results on Thursday, September 29th. The company reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.13. The business 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 company’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 earnings per share. On average, equities analysts anticipate that ConAgra Foods will post $2.47 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Monday, October 31st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Thursday, October 27th. ConAgra Foods’s dividend payout ratio is currently 66.67%.
Hedge funds have recently modified their holdings of the company. Bank of Montreal Can bought a new stake in shares of ConAgra Foods during the second quarter worth $37,051,000. Emerald Acquisition Ltd. bought a new stake in shares of ConAgra Foods during the second quarter worth $20,679,000. SECOR Capital Advisors LP bought a new stake in shares of ConAgra Foods during the second quarter worth $552,000. Nomura Holdings Inc. raised its stake in shares of ConAgra Foods by 130.2% in the second quarter. Nomura Holdings Inc. now owns 126,875 shares of the company’s stock worth $6,055,000 after buying an additional 71,752 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its stake in shares of ConAgra Foods by 0.6% in the first quarter. Nuveen Asset Management LLC now owns 46,392 shares of the company’s stock worth $2,070,000 after buying an additional 272 shares in the last quarter. 75.62% of the stock is 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.
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