Brokerages expect ConAgra Foods Inc. (NYSE:CAG) to report earnings per share of $0.40 for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for ConAgra Foods’ earnings, with the highest EPS estimate coming in at $0.43 and the lowest estimate coming in at $0.39. ConAgra Foods posted earnings of $0.61 per share in the same quarter last year, which indicates a negative year over year growth rate of 34.4%. The business is expected to issue its next quarterly earnings results on Thursday, October 5th.

On average, analysts expect that ConAgra Foods will report full-year earnings of $1.88 per share for the current year, with EPS estimates ranging from $1.86 to $1.95. For the next year, analysts expect that the firm will post earnings of $2.04 per share, with EPS estimates ranging from $1.99 to $2.10. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow ConAgra Foods.

ConAgra Foods (NYSE:CAG) last posted its quarterly earnings results on Thursday, June 29th. The company reported $0.37 EPS for the quarter, meeting the consensus estimate of $0.37. ConAgra Foods had a return on equity of 20.29% and a net margin of 7.43%. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the previous year, the business earned $0.52 EPS. The firm’s revenue was down 9.3% on a year-over-year basis.

A number of analysts have issued reports on the company. BidaskClub lowered ConAgra Foods from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 5th. Credit Suisse Group set a $39.00 target price on ConAgra Foods and gave the company a “hold” rating in a report on Saturday, July 1st. UBS AG reaffirmed a “sell” rating and issued a $33.00 target price (down previously from $35.00) on shares of ConAgra Foods in a report on Friday, June 30th. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $42.00 target price (down previously from $44.00) on shares of ConAgra Foods in a report on Wednesday, June 28th. Finally, Bank of America Corporation reaffirmed a “buy” rating and issued a $43.00 target price (down previously from $44.00) on shares of ConAgra Foods in a report on Monday, June 26th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $42.72.

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ConAgra Foods (NYSE CAG) traded down 0.12% during trading on Monday, reaching $33.84. The company had a trading volume of 3,831,471 shares. The company has a market capitalization of $14.10 billion, a P/E ratio of 23.18 and a beta of 0.33. The stock has a 50 day moving average of $36.58 and a 200-day moving average of $38.80. ConAgra Foods has a 12 month low of $32.93 and a 12 month high of $48.86.

ConAgra Foods announced that its board has authorized a share buyback plan on Thursday, June 29th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to repurchase up to 6.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Monday, July 31st will be given a dividend of $0.2125 per share. This represents a $0.85 annualized dividend and a dividend yield of 2.51%. The ex-dividend date is Thursday, July 27th. This is an increase from ConAgra Foods’s previous quarterly dividend of $0.20. ConAgra Foods’s dividend payout ratio (DPR) is 54.42%.

In related news, Director Stephen G. Butler sold 5,848 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $35.80, for a total transaction of $209,358.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ruth Ann Marshall sold 6,046 shares of the firm’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $33.22, for a total value of $200,848.12. Following the sale, the director now directly owns 89,260 shares of the company’s stock, valued at $2,965,217.20. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in ConAgra Foods by 2.6% in the first quarter. Vanguard Group Inc. now owns 46,312,610 shares of the company’s stock valued at $1,868,249,000 after buying an additional 1,175,244 shares during the period. BlackRock Inc. boosted its stake in ConAgra Foods by 2,749.9% in the first quarter. BlackRock Inc. now owns 26,966,885 shares of the company’s stock valued at $1,087,846,000 after buying an additional 26,020,645 shares during the period. Wells Fargo & Company MN boosted its stake in ConAgra Foods by 30.3% in the first quarter. Wells Fargo & Company MN now owns 7,336,632 shares of the company’s stock valued at $295,959,000 after buying an additional 1,706,553 shares during the period. TIAA CREF Investment Management LLC boosted its stake in ConAgra Foods by 21.6% in the first quarter. TIAA CREF Investment Management LLC now owns 6,575,883 shares of the company’s stock valued at $265,271,000 after buying an additional 1,169,432 shares during the period. Finally, American Century Companies Inc. boosted its stake in ConAgra Foods by 13.9% in the first quarter. American Century Companies Inc. now owns 6,177,203 shares of the company’s stock valued at $249,188,000 after buying an additional 753,028 shares during the period. 75.74% of the stock is owned by institutional investors.

About ConAgra Foods

Conagra Brands, Inc, formerly ConAgra Foods, Inc, operates as a packaged food company. The Company operates through two segments: Consumer Foods and Commercial Foods. The Company sells branded and customized food products, as well as commercially branded foods. It also supplies vegetable, spice and grain products to a range of restaurants, foodservice operators and commercial customers.

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Earnings History and Estimates for ConAgra Foods (NYSE:CAG)

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