Traders Purchase High Volume of Put Options on ConAgra Foods (NYSE:CAG)
ConAgra Foods Inc. (NYSE:CAG) was the target of unusually large options trading on Tuesday. Investors bought 11,263 put options on the stock. This is an increase of approximately 334% compared to the typical daily volume of 2,596 put options.
ConAgra Foods (CAG) opened at 33.57 on Friday. The firm has a 50-day moving average price of $38.25 and a 200 day moving average price of $39.30. ConAgra Foods has a one year low of $33.08 and a one year high of $41.68. The firm has a market capitalization of $14.11 billion, a P/E ratio of 22.68 and a beta of 0.33.
ConAgra Foods (NYSE:CAG) last issued its quarterly earnings results on Thursday, June 29th. The company reported $0.37 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.37. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.86 billion. ConAgra Foods had a net margin of 7.43% and a return on equity of 20.29%. The firm’s quarterly revenue was down 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.52 EPS. Equities research analysts anticipate that ConAgra Foods will post $1.86 earnings per share for the current year.
In other news, Director Stephen G. Butler sold 5,848 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was 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 the SEC website. Also, Director Ruth Ann Marshall sold 6,046 shares of the business’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $33.22, for a total value of $200,848.12. Following the sale, the director now directly owns 89,260 shares in the company, valued at approximately $2,965,217.20. The disclosure for this sale can be found here. 0.58% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its stake in shares of ConAgra Foods by 3.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,038,863 shares of the company’s stock valued at $41,088,000 after buying an additional 36,605 shares during the period. GSA Capital Partners LLP increased its stake in shares of ConAgra Foods by 13.5% in the fourth quarter. GSA Capital Partners LLP now owns 15,042 shares of the company’s stock valued at $595,000 after buying an additional 1,794 shares during the period. Franklin Resources Inc. increased its stake in shares of ConAgra Foods by 413.0% in the fourth quarter. Franklin Resources Inc. now owns 110,586 shares of the company’s stock valued at $4,373,000 after buying an additional 89,031 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of ConAgra Foods by 6.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 14,440 shares of the company’s stock valued at $571,000 after buying an additional 820 shares during the period. Finally, Vident Investment Advisory LLC purchased a new stake in shares of ConAgra Foods during the fourth quarter valued at approximately $504,000. Institutional investors and hedge funds own 76.19% of the company’s stock.
Several equities research analysts have recently commented on the company. BidaskClub lowered ConAgra Foods from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 5th. Credit Suisse Group set a $39.00 price objective on ConAgra Foods and gave the stock a “hold” rating in a research report on Saturday, July 1st. UBS AG restated a “sell” rating and set a $33.00 price objective (down from $35.00) on shares of ConAgra Foods in a research report on Friday, June 30th. J P Morgan Chase & Co restated an “overweight” rating and set a $42.00 price objective (down 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 set a $43.00 price objective (down from $44.00) on shares of ConAgra Foods in a research report on Monday, June 26th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $42.72.
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.
Receive News & Ratings for ConAgra Foods Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConAgra Foods Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.