Traders purchased shares of ConAgra Foods Inc. (NYSE:CAG) on weakness during trading on Tuesday. $42.35 million flowed into the stock on the tick-up and $16.90 million flowed out of the stock on the tick-down, for a money net flow of $25.45 million into the stock. Of all stocks tracked, ConAgra Foods had the 21st highest net in-flow for the day. ConAgra Foods traded down ($0.41) for the day and closed at $33.83
Several research analysts have recently commented on CAG shares. Bank of America Corporation reiterated a “buy” rating and issued a $43.00 target price (down previously from $44.00) on shares of ConAgra Foods in a research report on Monday, June 26th. Morgan Stanley restated an “overweight” rating and set a $42.00 price objective (down previously from $43.00) on shares of ConAgra Foods in a research report on Monday, June 26th. Jefferies Group LLC restated a “buy” rating on shares of ConAgra Foods in a research report on Friday, June 16th. Zacks Investment Research lowered ConAgra Foods from a “buy” rating to a “hold” rating in a research report on Monday, May 22nd. Finally, BidaskClub lowered ConAgra Foods from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 5th. Three investment 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. ConAgra Foods currently has a consensus rating of “Hold” and a consensus target price of $42.72.
The stock has a 50 day moving average price of $34.48 and a 200 day moving average price of $38.27. The company has a market cap of $14.50 billion, a P/E ratio of 23.84 and a beta of 0.32.
ConAgra Foods (NYSE:CAG) last posted its quarterly earnings results on Thursday, June 29th. The company reported $0.37 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ 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 period last year, the company earned $0.52 EPS. The firm’s revenue was down 9.3% on a year-over-year basis. On average, equities research analysts anticipate that ConAgra Foods Inc. will post $1.86 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Monday, July 31st will be given a $0.2125 dividend. This is a positive change from ConAgra Foods’s previous quarterly dividend of $0.20. This represents a $0.85 annualized dividend and a dividend yield of 2.44%. The ex-dividend date is Thursday, July 27th. ConAgra Foods’s dividend payout ratio (DPR) is currently 57.82%.
ConAgra Foods announced that its Board of Directors has approved a stock buyback program on Thursday, June 29th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 6.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
In other ConAgra Foods news, Director Ruth Ann Marshall sold 6,046 shares of ConAgra Foods stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $33.22, for a total value of $200,848.12. Following the sale, the director now owns 89,260 shares of the company’s stock, valued at approximately $2,965,217.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen G. Butler sold 5,848 shares of ConAgra Foods stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $35.80, for a total value of $209,358.40. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Private Bank & Trust Co. increased its stake in ConAgra Foods by 0.5% in the first quarter. Private Bank & Trust Co. now owns 6,027 shares of the company’s stock valued at $243,000 after buying an additional 27 shares in the last quarter. IndexIQ Advisors LLC increased its stake in ConAgra Foods by 0.4% in the second quarter. IndexIQ Advisors LLC now owns 9,828 shares of the company’s stock valued at $352,000 after buying an additional 36 shares in the last quarter. Transamerica Financial Advisors Inc. increased its stake in ConAgra Foods by 0.3% in the first quarter. Transamerica Financial Advisors Inc. now owns 11,777 shares of the company’s stock valued at $476,000 after buying an additional 41 shares in the last quarter. First Midwest Bank Trust Division increased its stake in ConAgra Foods by 0.8% in the first quarter. First Midwest Bank Trust Division now owns 6,559 shares of the company’s stock valued at $265,000 after buying an additional 50 shares in the last quarter. Finally, Sfmg LLC boosted its position in shares of ConAgra Foods by 0.4% in the first quarter. Sfmg LLC now owns 12,754 shares of the company’s stock valued at $514,000 after buying an additional 50 shares during the last quarter. 77.64% of the stock is currently owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION WARNING: This report was originally published by Community Financial News and is the sole property of of Community Financial News. If you are reading this report on another domain, it was copied illegally and reposted in violation of international trademark & copyright laws. The correct version of this report can be read at https://www.com-unik.info/2017/08/12/investors-buy-shares-of-conagra-foods-inc-nysecag-on-weakness-updated.html.
ConAgra Foods Company Profile
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.
What are top analysts saying about ConAgra Foods Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for ConAgra Foods Inc. and related companies.