NewSquare Capital LLC held its stake in shares of ConAgra Foods Inc. (NYSE:CAG) during the second quarter, Holdings Channel reports. The institutional investor owned 20,311 shares of the company’s stock at the end of the second quarter. NewSquare Capital LLC’s holdings in ConAgra Foods were worth $726,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. State of Wisconsin Investment Board increased its stake in shares of ConAgra Foods by 368.9% in the second quarter. State of Wisconsin Investment Board now owns 212,113 shares of the company’s stock valued at $7,585,000 after buying an additional 166,880 shares during the period. LMR Partners LLP purchased a new stake in shares of ConAgra Foods during the second quarter valued at $877,000. Dupont Capital Management Corp increased its stake in shares of ConAgra Foods by 16.4% in the second quarter. Dupont Capital Management Corp now owns 121,261 shares of the company’s stock valued at $4,336,000 after buying an additional 17,086 shares during the period. Conning Inc. increased its stake in shares of ConAgra Foods by 0.6% in the second quarter. Conning Inc. now owns 11,616 shares of the company’s stock valued at $415,000 after buying an additional 70 shares during the period. Finally, Alpine Woods Capital Investors LLC increased its stake in shares of ConAgra Foods by 4.2% in the second quarter. Alpine Woods Capital Investors LLC now owns 25,000 shares of the company’s stock valued at $894,000 after buying an additional 1,000 shares during the period. 77.33% of the stock is owned by institutional investors.

ConAgra Foods Inc. (CAG) opened at 34.89 on Tuesday. The stock has a market cap of $14.54 billion, a PE ratio of 23.90 and a beta of 0.32. ConAgra Foods Inc. has a 52 week low of $32.93 and a 52 week high of $48.86. The stock’s 50 day moving average is $34.41 and its 200 day moving average is $38.23.

ConAgra Foods (NYSE:CAG) last issued its quarterly earnings results on Thursday, June 29th. The company reported $0.37 earnings per share (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 business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the business posted $0.52 EPS. ConAgra Foods’s revenue for the quarter was down 9.3% compared to the same quarter last year. Analysts predict that ConAgra Foods Inc. will post $1.86 EPS 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 business also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Monday, July 31st will be paid a dividend of $0.2125 per share. This is a positive change from ConAgra Foods’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, July 27th. This represents a $0.85 dividend on an annualized basis and a yield of 2.44%. ConAgra Foods’s dividend payout ratio is presently 57.82%.

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Several brokerages recently weighed in on CAG. Credit Suisse Group reissued a “hold” rating and set a $39.00 price target on shares of ConAgra Foods in a research report on Friday. BidaskClub raised shares of ConAgra Foods from a “strong sell” rating to a “sell” rating in a research report on Saturday. UBS AG reissued a “sell” rating and set a $33.00 price target (down previously from $35.00) on shares of ConAgra Foods in a research report on Friday, June 30th. J P Morgan Chase & Co reissued an “overweight” rating and set a $42.00 price target (down previously from $44.00) on shares of ConAgra Foods in a research report on Wednesday, June 28th. Finally, Bank of America Corporation restated a “buy” rating and issued a $43.00 target price (down previously from $44.00) on shares of ConAgra Foods in a report on Monday, June 26th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target 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 0.58% of the company’s stock.

About ConAgra Foods

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.

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

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