Investors bought 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 equities analysts have recently issued reports on CAG shares. BidaskClub downgraded shares of ConAgra Foods from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 5th. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $42.00 price target (down previously from $44.00) on shares of ConAgra Foods in a research note on Wednesday, June 28th. UBS AG downgraded shares of ConAgra Foods from a “neutral” rating to a “sell” rating and dropped their price target for the company from $38.00 to $35.00 in a research note on Tuesday, April 25th. Jefferies Group LLC reiterated a “buy” rating on shares of ConAgra Foods in a research report on Friday, June 16th. Finally, Credit Suisse Group set a $39.00 price objective on shares of ConAgra Foods and gave the stock a “hold” rating in a research report on Saturday, July 1st. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. ConAgra Foods has a consensus rating of “Hold” and an average target price of $42.72.
The firm has a market cap of $14.36 billion, a PE ratio of 23.60 and a beta of 0.32. The firm’s 50-day moving average price is $34.16 and its 200-day moving average price is $38.12.
ConAgra Foods (NYSE:CAG) last released its earnings results on Thursday, June 29th. The company reported $0.37 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.37. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate 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 was down 9.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.52 EPS. On average, equities research analysts anticipate that ConAgra Foods Inc. will post $1.86 EPS for the current fiscal year.
The firm also recently announced 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. The ex-dividend date of this dividend is Thursday, July 27th. This is an increase from ConAgra Foods’s previous quarterly dividend of $0.20. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.47%. ConAgra Foods’s dividend payout ratio is currently 57.82%.
ConAgra Foods announced that its Board of Directors has approved a stock buyback plan on Thursday, June 29th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 6.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.
In related news, Director Ruth Ann Marshall sold 6,046 shares of the stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $33.22, for a total transaction of $200,848.12. Following the sale, the director now directly owns 89,260 shares of the company’s stock, valued at approximately $2,965,217.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen G. Butler sold 5,848 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $35.80, for a total transaction of $209,358.40. The disclosure for this sale can be found here. Corporate insiders own 0.58% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Toronto Dominion Bank increased its stake in shares of ConAgra Foods by 22.1% in the second quarter. Toronto Dominion Bank now owns 142,318 shares of the company’s stock valued at $5,088,000 after buying an additional 25,718 shares during the period. Archford Capital Strategies LLC boosted its position in ConAgra Foods by 2,028.5% in the second quarter. Archford Capital Strategies LLC now owns 23,414 shares of the company’s stock valued at $1,483,000 after buying an additional 22,314 shares in the last quarter. Koch Industries Inc. boosted its position in ConAgra Foods by 6,018.5% in the second quarter. Koch Industries Inc. now owns 338,045 shares of the company’s stock valued at $329,000 after buying an additional 332,520 shares in the last quarter. Verition Fund Management LLC boosted its position in ConAgra Foods by 204.8% in the second quarter. Verition Fund Management LLC now owns 17,385 shares of the company’s stock valued at $622,000 after buying an additional 11,681 shares in the last quarter. Finally, Krilogy Financial LLC boosted its position in ConAgra Foods by 7.7% in the second quarter. Krilogy Financial LLC now owns 5,170 shares of the company’s stock valued at $185,000 after buying an additional 370 shares in the last quarter. 77.33% of the stock is currently owned by institutional investors.
TRADEMARK VIOLATION NOTICE: “Investors Buy Shares of ConAgra Foods Inc. (NYSE:CAG) on Weakness” was published by Community Financial News and is owned by of Community Financial News. If you are reading this report on another domain, it was copied illegally and republished in violation of U.S. and international copyright law. The correct version of this report can be accessed at https://www.com-unik.info/2017/08/19/investors-buy-shares-of-conagra-foods-inc-nysecag-on-weakness-updated-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.