Today, Bank of New York Mellon Corp Sold shares of ConAgra Foods Inc. (CAG)

Today, Bank of New York Mellon Corp Sold shares of ConAgra Foods Inc. (CAG)

Bank of New York Mellon Corp cut its position in shares of ConAgra Foods Inc. (NYSE:CAG) by 14.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,057,175 shares of the company’s stock after selling 1,570,741 shares during the period. Bank of New York Mellon Corp owned about 2.07% of ConAgra Foods worth $426,682,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of CAG. Advisor Partners LLC increased its stake in ConAgra Foods by 0.4% in the third quarter. Advisor Partners LLC now owns 8,393 shares of the company’s stock worth $395,000 after buying an additional 30 shares in the last quarter. Johnson Investment Counsel Inc. increased its stake in ConAgra Foods by 0.3% in the second quarter. Johnson Investment Counsel Inc. now owns 10,776 shares of the company’s stock valued at $515,000 after buying an additional 31 shares in the last quarter. Hedeker Wealth LLC purchased a new stake in ConAgra Foods during the third quarter valued at about $764,000. Prospera Financial Services Inc increased its stake in ConAgra Foods by 0.7% in the second quarter. Prospera Financial Services Inc now owns 7,274 shares of the company’s stock valued at $348,000 after buying an additional 48 shares in the last quarter. Finally, Alpha Windward LLC increased its stake in ConAgra Foods by 2.2% in the third quarter. Alpha Windward LLC now owns 2,838 shares of the company’s stock valued at $134,000 after buying an additional 61 shares in the last quarter. Institutional investors own 76.80% of the company’s stock.

ConAgra Foods Inc. (NYSE:CAG) traded up 1.45% on Friday, hitting $37.71. The stock had a trading volume of 1,466,645 shares. The company’s 50-day moving average is $36.80 and its 200-day moving average is $36.16. ConAgra Foods Inc. has a one year low of $29.55 and a one year high of $38.02. The stock has a market cap of $16.51 billion, a P/E ratio of 25.24 and a beta of 0.31.

ConAgra Foods (NYSE:CAG) last issued its earnings results on Thursday, September 29th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.13. The business had revenue of $2.67 billion for the quarter. ConAgra Foods had a return on equity of 28.48% and a net margin of 5.76%. The company’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same period last year, the business posted $0.41 earnings per share. On average, analysts anticipate that ConAgra Foods Inc. will post $1.68 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Monday, October 31st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.65%. The ex-dividend date is Thursday, October 27th. ConAgra Foods’s dividend payout ratio (DPR) is presently 66.67%.

Several research firms recently issued reports on CAG. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $55.00 price objective on shares of ConAgra Foods in a report on Wednesday, November 9th. Stifel Nicolaus boosted their price objective on ConAgra Foods from $46.00 to $52.00 and gave the company a “hold” rating in a report on Wednesday, October 19th. Zacks Investment Research upgraded ConAgra Foods from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a report on Wednesday, October 5th. Credit Suisse Group AG set a $50.00 price objective on ConAgra Foods and gave the company a “hold” rating in a report on Saturday, October 1st. Finally, TheStreet upgraded ConAgra Foods from a “hold” rating to a “buy” rating in a report on Thursday, September 29th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $50.67.

About ConAgra Foods

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