ConAgra Foods Inc. (NYSE:CAG) Director Stephen G. Butler sold 5,848 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $35.80, for a total transaction of $209,358.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
ConAgra Foods Inc. (NYSE:CAG) traded up 0.30% on Monday, reaching $33.52. 298,650 shares of the company’s stock traded hands. The stock has a market cap of $14.09 billion, a price-to-earnings ratio of 22.65 and a beta of 0.33. The company’s 50 day moving average is $38.25 and its 200-day moving average is $39.30. ConAgra Foods Inc. has a 52-week low of $33.41 and a 52-week high of $48.86.
ConAgra Foods (NYSE:CAG) last announced its quarterly earnings data on Thursday, June 29th. The company reported $0.37 EPS for the quarter, hitting the consensus estimate of $0.37. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.86 billion. ConAgra Foods had a net margin of 7.43% and a return on equity of 20.29%. The company’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 earnings per share. Equities analysts expect that ConAgra Foods Inc. will post $1.86 EPS for the current year.
A number of hedge funds have recently made changes to their positions in CAG. Curbstone Financial Management Corp raised its stake in ConAgra Foods by 1.5% in the second quarter. Curbstone Financial Management Corp now owns 6,800 shares of the company’s stock valued at $243,000 after buying an additional 100 shares during the period. Xact Kapitalforvaltning AB raised its stake in ConAgra Foods by 1.4% in the second quarter. Xact Kapitalforvaltning AB now owns 65,424 shares of the company’s stock valued at $2,340,000 after buying an additional 908 shares during the period. Achmea Investment Management B.V. acquired a new stake in ConAgra Foods during the first quarter valued at about $2,474,000. Bank of Nova Scotia raised its stake in ConAgra Foods by 259.4% in the first quarter. Bank of Nova Scotia now owns 101,920 shares of the company’s stock valued at $4,112,000 after buying an additional 73,561 shares during the period. Finally, Farmers National Bank raised its stake in ConAgra Foods by 6.2% in the first quarter. Farmers National Bank now owns 37,652 shares of the company’s stock valued at $1,774,000 after buying an additional 2,204 shares during the period. 76.21% of the stock is currently owned by institutional investors and hedge funds.
CAG has been the topic of a number of research analyst reports. Sanford C. Bernstein cut shares of ConAgra Foods from a “market perform” rating to an “underperform” rating and set a $36.00 target price on the stock. in a report on Tuesday, March 21st. Royal Bank of Canada upped their target price on shares of ConAgra Foods from $42.00 to $45.00 and gave the company a “buy” rating in a report on Friday, March 24th. Zacks Investment Research raised shares of ConAgra Foods from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Jefferies Group LLC reaffirmed a “buy” rating on shares of ConAgra Foods in a report on Friday, June 16th. Finally, J P Morgan Chase & Co dropped their target price on shares of ConAgra Foods from $45.00 to $44.00 and set an “overweight” rating on the stock in a report on Wednesday, May 31st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. ConAgra Foods has a consensus rating of “Hold” and a consensus price target of $43.53.
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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