Today: The ConAgra Foods Inc. (CAG) Upgraded to “Outperform” at RBC Capital Markets

The ConAgra Foods Inc. (CAG) Upgraded to “Outperform” at RBC Capital Markets

RBC Capital Markets upgraded shares of ConAgra Foods Inc. (NYSE:CAG) from a sector perform rating to an outperform rating in a research note released on Friday morning. The firm currently has $54.00 price target on the stock, up from their prior price target of $50.00. The analysts noted that the move was a valuation call.

CAG has been the topic of a number of other reports. Citigroup Inc. lifted their price target on shares of ConAgra Foods from $50.00 to $51.00 and gave the stock a neutral rating in a research report on Friday, September 30th. Zacks Investment Research raised shares of ConAgra Foods from a hold rating to a buy rating and set a $53.00 price target on the stock in a research report on Wednesday, October 5th. Jefferies Group reissued a buy rating and set a $56.00 price target on shares of ConAgra Foods in a research report on Thursday. TheStreet cut shares of ConAgra Foods from a strong-buy rating to a hold rating in a research report on Thursday, June 30th. Finally, Deutsche Bank AG reduced their price target on shares of ConAgra Foods from $48.00 to $46.00 and set a hold rating on the stock in a research report on Friday, September 23rd. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. ConAgra Foods currently has a consensus rating of Buy and a consensus target price of $50.91.

ConAgra Foods (NYSE:CAG) traded down 0.011% during midday trading on Friday, reaching $47.545. 803,247 shares of the company’s stock were exchanged. The company has a market cap of $20.81 billion, a price-to-earnings ratio of 31.824 and a beta of 0.34. ConAgra Foods has a 52 week low of $37.97 and a 52 week high of $48.81. The firm has a 50-day moving average price of $45.40 and a 200 day moving average price of $46.02.

ConAgra Foods (NYSE:CAG) last announced its quarterly earnings results on Thursday, September 29th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.13. The company 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 company’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.41 earnings per share. Analysts anticipate that ConAgra Foods will post $2.47 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Monday, October 31st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.10%. ConAgra Foods’s dividend payout ratio is presently 66.67%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CAG. First Financial Corp IN raised its position in ConAgra Foods by 14.9% in the third quarter. First Financial Corp IN now owns 42,941 shares of the company’s stock valued at $2,023,000 after buying an additional 5,573 shares in the last quarter. Advisor Consultant Network Inc. purchased a new position in ConAgra Foods during the third quarter valued at $3,003,000. National Pension Service raised its position in ConAgra Foods by 8.8% in the third quarter. National Pension Service now owns 314,386 shares of the company’s stock valued at $14,811,000 after buying an additional 25,430 shares in the last quarter. Parametrica Management Ltd purchased a new position in ConAgra Foods during the third quarter valued at $318,000. Finally, Nisa Investment Advisors LLC raised its position in ConAgra Foods by 1.6% in the third quarter. Nisa Investment Advisors LLC now owns 212,157 shares of the company’s stock valued at $9,995,000 after buying an additional 3,400 shares in the last quarter. Institutional investors own 75.62% of the company’s stock.

ConAgra Foods Company Profile

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