City Holding Co. boosted its stake in ConAgra Foods Inc. (NYSE:CAG) by 12.4% during the second quarter, Holdings Channel reports. The fund owned 25,759 shares of the company’s stock after buying an additional 2,850 shares during the period. City Holding Co.’s holdings in ConAgra Foods were worth $921,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of CAG. Oppenheimer Asset Management Inc. purchased a new position in ConAgra Foods during the first quarter valued at approximately $110,000. Advisors Asset Management Inc. raised its position in ConAgra Foods by 75.7% in the first quarter. Advisors Asset Management Inc. now owns 2,987 shares of the company’s stock valued at $120,000 after buying an additional 1,287 shares during the last quarter. Alpha Windward LLC raised its position in ConAgra Foods by 7.9% in the first quarter. Alpha Windward LLC now owns 3,382 shares of the company’s stock valued at $136,000 after buying an additional 247 shares during the last quarter. Rational Advisors LLC raised its position in ConAgra Foods by 14.3% in the first quarter. Rational Advisors LLC now owns 3,507 shares of the company’s stock valued at $141,000 after buying an additional 438 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new position in ConAgra Foods during the first quarter valued at approximately $181,000. 76.21% of the stock is owned by institutional investors.
Shares of ConAgra Foods Inc. (NYSE:CAG) traded down 0.57% during trading on Monday, reaching $33.23. 5,663,682 shares of the company’s stock were exchanged. ConAgra Foods Inc. has a 12-month low of $33.12 and a 12-month high of $48.86. The stock has a 50-day moving average price of $38.25 and a 200 day moving average price of $39.30. The company has a market capitalization of $13.97 billion, a P/E ratio of 22.45 and a beta of 0.33.
ConAgra Foods (NYSE:CAG) last issued its earnings results on Thursday, June 29th. The company reported $0.37 earnings per share for the quarter, hitting the consensus estimate of $0.37. ConAgra Foods had a return on equity of 20.29% and a net margin of 7.43%. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the company earned $0.52 EPS. The business’s quarterly revenue was down 9.3% on a year-over-year basis. Equities analysts expect that ConAgra Foods Inc. will post $1.86 EPS for the current fiscal year.
Several research analysts have commented on the stock. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $42.00 price objective (down from $44.00) on shares of ConAgra Foods in a research note on Wednesday, June 28th. BidaskClub lowered shares of ConAgra Foods from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 5th. Credit Suisse Group set a $39.00 price objective on shares of ConAgra Foods and gave the stock a “hold” rating in a research note on Saturday, July 1st. Bank of America Corporation reaffirmed a “buy” rating and set a $43.00 price objective (down from $44.00) on shares of ConAgra Foods in a research note on Monday, June 26th. Finally, Jefferies Group LLC reaffirmed a “buy” rating on shares of ConAgra Foods in a research note on Friday, June 16th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $43.53.
In other news, Director Stephen G. Butler sold 5,848 shares of the firm’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 document filed with the SEC, which is accessible through the SEC website. 0.58% of the stock is currently owned by company insiders.
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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