Neuberger Berman Group LLC lowered its stake in ConAgra Foods Inc. (NYSE:CAG) by 18.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,690,007 shares of the company’s stock after selling 1,080,286 shares during the period. Neuberger Berman Group LLC owned about 1.13% of ConAgra Foods worth $167,715,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAG. Transamerica Financial Advisors Inc. raised its position 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 during the period. Sfmg LLC raised its position in 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 period. First Midwest Bank Trust Division raised its position 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 during the period. Hancock Holding Co. raised its position in ConAgra Foods by 0.3% in the first quarter. Hancock Holding Co. now owns 19,399 shares of the company’s stock valued at $783,000 after buying an additional 50 shares during the period. Finally, Wetherby Asset Management Inc. raised its position in ConAgra Foods by 0.6% in the first quarter. Wetherby Asset Management Inc. now owns 9,147 shares of the company’s stock valued at $369,000 after buying an additional 57 shares during the period. 78.40% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ConAgra Foods Inc. (CAG) opened at 32.53 on Tuesday. The firm’s 50-day moving average price is $34.02 and its 200-day moving average price is $37.93. The company has a market capitalization of $13.55 billion, a price-to-earnings ratio of 22.28 and a beta of 0.32. ConAgra Foods Inc. has a one year low of $32.47 and a one year high of $48.86.

ConAgra Foods (NYSE:CAG) last posted its earnings results on Thursday, June 29th. The company reported $0.37 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.37. ConAgra Foods had a net margin of 7.43% and a return on equity of 20.29%. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the prior year, the company posted $0.52 earnings per share. ConAgra Foods’s revenue for the quarter was down 9.3% compared to the same quarter last year. Analysts anticipate that ConAgra Foods Inc. will post $1.86 earnings per share for the current year.

ConAgra Foods declared that its Board of Directors has initiated a share buyback plan on Thursday, June 29th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 6.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Monday, July 31st will be given a dividend of $0.2125 per share. This is a boost from ConAgra Foods’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $0.85 dividend on an annualized basis and a yield of 2.61%. ConAgra Foods’s dividend payout ratio is presently 57.82%.

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CAG has been the subject of several research analyst reports. Zacks Investment Research lowered ConAgra Foods from a “buy” rating to a “hold” rating in a research report on Monday, May 22nd. J P Morgan Chase & Co lowered their price objective on ConAgra Foods from $45.00 to $44.00 and set an “overweight” rating for the company in a research report on Wednesday, May 31st. Jefferies Group LLC reissued a “buy” rating on shares of ConAgra Foods in a research report on Friday, June 16th. Morgan Stanley reissued an “overweight” rating and issued a $42.00 price objective (down from $43.00) on shares of ConAgra Foods in a research report on Monday, June 26th. Finally, Bank of America Corporation reaffirmed a “buy” rating and issued a $43.00 target price (down from $44.00) on shares of ConAgra Foods in a research report on Monday, June 26th. Three equities research 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. The company has an average rating of “Hold” and an average target price of $42.72.

In other ConAgra Foods news, Director Stephen G. Butler sold 5,848 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $35.80, for a total transaction of $209,358.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ruth Ann Marshall sold 6,046 shares of the company’s stock in a transaction that occurred on Wednesday, July 12th. The shares were 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 in the company, valued at approximately $2,965,217.20. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company’s stock.

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.

Institutional Ownership by Quarter for ConAgra Foods (NYSE:CAG)

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