Moody National Bank Trust Division held its stake in ConAgra Foods Inc. (NYSE:CAG) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,550 shares of the company’s stock at the end of the second quarter. Moody National Bank Trust Division’s holdings in ConAgra Foods were worth $647,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of CAG. Investors Capital Advisory Services acquired a new stake in ConAgra Foods during the second quarter worth $230,000. World Asset Management Inc boosted its stake in ConAgra Foods by 1.3% in the second quarter. World Asset Management Inc now owns 43,930 shares of the company’s stock worth $2,100,000 after buying an additional 568 shares in the last quarter. Columbus Circle Investors acquired a new stake in ConAgra Foods during the second quarter worth $12,399,000. Commerzbank Aktiengesellschaft FI boosted its stake in ConAgra Foods by 4.5% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 36,862 shares of the company’s stock worth $1,762,000 after buying an additional 1,602 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in ConAgra Foods by 1.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 161,768 shares of the company’s stock worth $7,734,000 after buying an additional 1,708 shares in the last quarter. Institutional investors own 75.62% of the company’s stock.
Shares of ConAgra Foods Inc. (NYSE:CAG) traded up 1.33% during midday trading on Friday, reaching $48.09. The company’s stock had a trading volume of 2,360,239 shares. ConAgra Foods Inc. has a 1-year low of $37.97 and a 1-year high of $48.81. The stock has a 50 day moving average of $45.89 and a 200-day moving average of $46.20. The company has a market capitalization of $21.05 billion, a P/E ratio of 32.19 and a beta of 0.34.
ConAgra Foods (NYSE:CAG) last issued its earnings results on Thursday, September 29th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.13. The business had revenue of $2.67 billion for the quarter. ConAgra Foods had a net margin of 5.76% and a return on equity of 28.48%. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.41 EPS. On average, equities research analysts anticipate that ConAgra Foods Inc. will post $2.48 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders 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 dividend yield of 2.08%. ConAgra Foods’s dividend payout ratio (DPR) is presently 66.67%.
A number of analysts have weighed in on the company. Stifel Nicolaus raised their price target on ConAgra Foods from $46.00 to $52.00 and gave the company a “hold” rating in a research note on Wednesday, October 19th. Royal Bank Of Canada upgraded ConAgra Foods from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $50.00 to $54.00 in a research note on Friday, October 14th. RBC Capital Markets raised ConAgra Foods from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $50.00 to $54.00 in a report on Friday, October 14th. They noted that the move was a valuation call. Jefferies Group reaffirmed a “buy” rating and set a $56.00 price objective on shares of ConAgra Foods in a report on Thursday, October 13th. Finally, Zacks Investment Research raised 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. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $51.00.
About ConAgra Foods
ConAgra Foods, Inc operates as a packaged food company. The Company sells branded, private branded and customized food products, as well as commercially branded foods and ingredients. It also supplies frozen potato and sweet potato products, as well as other vegetable, spice and grain products to a range of restaurants, foodservice operators and commercial customers.