Traders Buy ConAgra Foods Inc. (CAG) on Weakness
Traders bought shares of ConAgra Foods Inc. (NYSE:CAG) on weakness during trading hours on Monday. $38.62 million flowed into the stock on the tick-up and $17.44 million flowed out of the stock on the tick-down, for a money net flow of $21.18 million into the stock. Of all stocks tracked, ConAgra Foods had the 17th highest net in-flow for the day. ConAgra Foods traded down ($0.05) for the day and closed at $43.20
Several analysts recently issued reports on CAG shares. Deutsche Bank AG reissued a “hold” rating on shares of ConAgra Foods in a report on Friday, June 24th. Jefferies Group reissued a “buy” rating and issued a $55.00 price target on shares of ConAgra Foods in a report on Monday, July 4th. Bank of America Corp. reissued a “buy” rating and issued a $52.00 price target on shares of ConAgra Foods in a report on Monday. TheStreet downgraded ConAgra Foods from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 30th. Finally, Zacks Investment Research raised ConAgra Foods from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Wednesday, June 8th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $49.36.
The company’s market cap is $18.95 billion. The stock has a 50-day moving average price of $45.86 and a 200 day moving average price of $45.77.
ConAgra Foods (NYSE:CAG) last released its quarterly earnings data on Thursday, June 30th. The company reported $0.52 earnings per share for the quarter, meeting the consensus estimate of $0.52. ConAgra Foods had a positive return on equity of 27.17% and a negative net margin of 6.57%. The company had revenue of $2.83 billion for the quarter. During the same quarter in the prior year, the company posted $0.59 earnings per share. The company’s revenue for the quarter was down 9.5% on a year-over-year basis. On average, equities analysts anticipate that ConAgra Foods Inc. will post $2.40 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 31st. Stockholders of record on Friday, July 29th were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, July 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.31%. ConAgra Foods’s dividend payout ratio is currently -56.50%.
In related news, CFO John Gehring sold 159,057 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 157,452 shares in the company, valued at approximately $7,579,739.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Stephen G. Butler sold 4,607 shares of the stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $48.10, for a total value of $221,596.70. Following the sale, the director now owns 89,850 shares in the company, valued at $4,321,785. The disclosure for this sale can be found here. 0.58% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in CAG. Westbourne Investment Advisors Inc. acquired a new stake in ConAgra Foods during the second quarter worth approximately $100,000. Stuart Chaussee & Associates Inc. raised its stake in ConAgra Foods by 166.3% in the second quarter. Stuart Chaussee & Associates Inc. now owns 2,690 shares of the company’s stock worth $130,000 after buying an additional 1,680 shares during the period. Financial Architects Inc raised its stake in ConAgra Foods by 71.7% in the second quarter. Financial Architects Inc now owns 3,830 shares of the company’s stock worth $183,000 after buying an additional 1,600 shares during the period. Signature Estate & Investment Advisors LLC acquired a new stake in ConAgra Foods during the second quarter worth approximately $194,000. Finally, InterOcean Capital LLC acquired a new stake in ConAgra Foods during the second quarter worth approximately $201,000. Institutional investors and hedge funds own 75.41% of the company’s stock.
About ConAgra Foods
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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