ConAgra Foods Inc. (NYSE:CAG)‘s stock had its “hold” rating reaffirmed by investment analysts at Credit Suisse Group in a report released on Friday. They currently have a $39.00 price target on the stock. Credit Suisse Group’s price target points to a potential upside of 12.07% from the stock’s previous close.

Several other equities research analysts have also recently commented on CAG. UBS AG cut shares of ConAgra Foods from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $38.00 to $35.00 in a research report on Tuesday, April 25th. BidaskClub raised ConAgra Foods from a “strong sell” rating to a “sell” rating in a research note on Saturday. J P Morgan Chase & Co reissued an “overweight” rating and issued a $42.00 price target (down previously from $44.00) on shares of ConAgra Foods in a research note on Wednesday, June 28th. Zacks Investment Research raised ConAgra Foods from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Jefferies Group LLC reissued a “buy” rating on shares of ConAgra Foods in a research note on Friday, June 16th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $42.72.

Shares of ConAgra Foods (NYSE:CAG) traded up 2.17% during trading on Friday, hitting $34.80. 3,276,892 shares of the stock were exchanged. The stock has a market cap of $14.50 billion, a P/E ratio of 23.84 and a beta of 0.32. The stock has a 50-day moving average of $34.48 and a 200 day moving average of $38.27. ConAgra Foods has a 12-month low of $32.93 and a 12-month high of $41.68.

ConAgra Foods (NYSE:CAG) last issued its quarterly earnings results on Thursday, June 29th. The company reported $0.37 EPS for the quarter, hitting the consensus estimate of $0.37. ConAgra Foods had a net margin of 7.43% and a return on equity of 20.29%. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the previous year, the business earned $0.52 earnings per share. ConAgra Foods’s revenue for the quarter was down 9.3% compared to the same quarter last year. Equities analysts predict that ConAgra Foods will post $1.86 earnings per share for the current fiscal year.

ConAgra Foods declared that its board has authorized a stock buyback plan on Thursday, June 29th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 6.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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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 transaction of $200,848.12. Following the transaction, 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 SEC, which is available at this hyperlink. 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. Insiders own 0.58% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Huntington National Bank boosted its position in ConAgra Foods by 0.9% in the first quarter. Huntington National Bank now owns 11,254 shares of the company’s stock valued at $454,000 after buying an additional 103 shares during the period. Beech Hill Advisors Inc. acquired a new position in ConAgra Foods during the first quarter valued at $242,000. Bollard Group LLC boosted its position in ConAgra Foods by 12.1% in the first quarter. Bollard Group LLC now owns 79,792 shares of the company’s stock valued at $3,219,000 after buying an additional 8,598 shares during the period. Patten & Patten Inc. TN boosted its position in ConAgra Foods by 5.1% in the first quarter. Patten & Patten Inc. TN now owns 8,959 shares of the company’s stock valued at $361,000 after buying an additional 434 shares during the period. Finally, DnB Asset Management AS boosted its position in ConAgra Foods by 25.4% in the first quarter. DnB Asset Management AS now owns 62,771 shares of the company’s stock valued at $2,532,000 after buying an additional 12,700 shares during the period. 77.64% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for ConAgra Foods (NYSE:CAG)

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