ConAgra Foods Inc. (NYSE:CAG) Receives Consensus Recommendation of “Hold” from Analysts
ConAgra Foods Inc. (NYSE:CAG) has been given a consensus recommendation of “Hold” by the twelve research firms that are currently covering the company. Eight equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $48.63.
A number of analysts recently issued reports on the stock. Royal Bank Of Canada reissued a “sector perform” rating and set a $50.00 target price (up previously from $48.00) on shares of ConAgra Foods in a research report on Monday, June 27th. TheStreet downgraded shares of ConAgra Foods from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 30th. Morgan Stanley reaffirmed an “overweight” rating on shares of ConAgra Foods in a research report on Wednesday, June 29th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $49.00 price objective on shares of ConAgra Foods in a research report on Wednesday, June 29th. Finally, Deutsche Bank AG reaffirmed a “hold” rating on shares of ConAgra Foods in a research report on Friday, June 24th.
Shares of ConAgra Foods (NYSE:CAG) traded down 0.66% during trading on Thursday, hitting $43.53. 821,944 shares of the stock were exchanged. ConAgra Foods has a 12-month low of $37.97 and a 12-month high of $48.81. The company’s market cap is $19.10 billion. The firm has a 50 day moving average of $46.11 and a 200-day moving average of $45.73.
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ConAgra Foods (NYSE:CAG) last posted its earnings results on Thursday, June 30th. The company reported $0.52 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.52. The firm earned $2.83 billion during the quarter. ConAgra Foods had a negative net margin of 6.57% and a positive return on equity of 27.17%. The firm’s revenue for the quarter was down 9.5% compared to the same quarter last year. During the same period last year, the company posted $0.59 EPS. On average, analysts forecast that ConAgra Foods will post $2.41 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 31st. Investors of record on Friday, July 29th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.28%. The ex-dividend date was Wednesday, July 27th. ConAgra Foods’s dividend payout ratio (DPR) is presently -56.50%.
In related news, CFO John Gehring sold 159,057 shares of the firm’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $48.14, for a total transaction of $7,657,003.98. Following the transaction, the chief financial officer now directly owns 157,452 shares in the company, valued at $7,579,739.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Robert G. Wise sold 36,654 shares of the firm’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $48.16, for a total value of $1,765,256.64. Following the transaction, the senior vice president now owns 55,272 shares in the company, valued at $2,661,899.52. The disclosure for this sale can be found here. Corporate insiders own 0.58% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. IBM Retirement Fund boosted its position in shares of ConAgra Foods by 7.5% in the fourth quarter. IBM Retirement Fund now owns 106,038 shares of the company’s stock valued at $4,471,000 after buying an additional 7,373 shares during the period. Royal London Asset Management Ltd. boosted its stake in ConAgra Foods by 0.8% in the fourth quarter. Royal London Asset Management Ltd. now owns 154,454 shares of the company’s stock worth $6,581,000 after buying an additional 1,191 shares during the last quarter. Stifel Financial Corp boosted its stake in ConAgra Foods by 35.3% in the fourth quarter. Stifel Financial Corp now owns 126,957 shares of the company’s stock worth $5,531,000 after buying an additional 33,120 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in ConAgra Foods by 5.7% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 65,434 shares of the company’s stock worth $2,759,000 after buying an additional 3,500 shares during the last quarter. Finally, Norges Bank bought a new stake in ConAgra Foods during the fourth quarter worth about $174,764,000. Hedge funds and other institutional investors own 75.41% of the company’s stock.
ConAgra Foods Company Profile
ConAgra Foods, Inc operates as a packaged food company. The Company sells branded, private branded and customized food products, as well as commercially branded foods and ingredients. It also supplies frozen potato and sweet potato products, as well as other vegetable, spice and grain products to a range of restaurants, foodservice operators and commercial customers.
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