The ConAgra Foods Inc. (CAG) Upgraded at Royal Bank Of Canada

The ConAgra Foods Inc. (CAG) Upgraded at Royal Bank Of Canada

ConAgra Foods Inc. (NYSE:CAG) was upgraded by Royal Bank Of Canada from a “sector perform” rating to an “outperform” rating in a report issued on Friday. The brokerage currently has a $54.00 price objective on the stock, up from their prior price objective of $50.00. Royal Bank Of Canada’s price objective indicates a potential upside of 15.09% from the company’s previous close.

A number of other analysts have also issued reports on CAG. Jefferies Group lifted their target price on ConAgra Foods from $55.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, July 27th. Citigroup Inc. lifted their target price on ConAgra Foods from $50.00 to $51.00 and gave the stock a “neutral” rating in a research report on Friday, September 30th. TheStreet raised ConAgra Foods from a “hold” rating to a “buy” rating in a research report on Thursday, September 29th. Zacks Investment Research lowered ConAgra Foods from a “buy” rating to a “hold” rating in a research report on Monday, July 4th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $48.00 target price on shares of ConAgra Foods in a research report on Wednesday, July 6th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. ConAgra Foods has a consensus rating of “Buy” and a consensus price target of $50.60.

Shares of ConAgra Foods (NYSE:CAG) opened at 46.92 on Friday. The firm’s 50-day moving average price is $45.36 and its 200 day moving average price is $46.00. ConAgra Foods has a 1-year low of $37.97 and a 1-year high of $48.81. The stock has a market capitalization of $20.54 billion, a P/E ratio of 31.41 and a beta of 0.34.

ConAgra Foods (NYSE:CAG) last released its quarterly earnings data on Thursday, September 29th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.48 by $0.13. ConAgra Foods had a return on equity of 28.48% and a net margin of 5.76%. The company had revenue of $2.67 billion for the quarter. During the same period last year, the business earned $0.41 earnings per share. The company’s revenue for the quarter was down 4.6% compared to the same quarter last year. Analysts expect that ConAgra Foods will post $2.47 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Monday, October 31st will be paid a $0.25 dividend. The ex-dividend date is Thursday, October 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.13%. ConAgra Foods’s payout ratio is currently 66.67%.

A number of institutional investors have recently modified their holdings of the stock. CIBC World Markets Inc. bought a new position in shares of ConAgra Foods during the first quarter worth approximately $251,000. Aviva PLC increased its position in shares of ConAgra Foods by 1.7% in the first quarter. Aviva PLC now owns 233,783 shares of the company’s stock worth $10,431,000 after buying an additional 3,834 shares during the last quarter. AMF Pensionsforsakring AB bought a new position in shares of ConAgra Foods during the first quarter worth approximately $23,574,000. BB&T Securities LLC increased its position in shares of ConAgra Foods by 25.0% in the first quarter. BB&T Securities LLC now owns 56,305 shares of the company’s stock worth $2,512,000 after buying an additional 11,271 shares during the last quarter. Finally, State Street Corp increased its position in shares of ConAgra Foods by 3.2% in the first quarter. State Street Corp now owns 22,191,654 shares of the company’s stock worth $990,189,000 after buying an additional 686,101 shares during the last quarter. Institutional investors own 75.33% of the company’s stock.

About ConAgra Foods

Related posts

Leave a Comment