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