Mutual of America Capital Management LLC reduced its stake in shares of ConAgra Foods Inc. (NYSE:CAG) by 1.7% during the third quarter, Holdings Channel reports. The firm owned 50,103 shares of the company’s stock after selling 872 shares during the period. Mutual of America Capital Management LLC’s holdings in ConAgra Foods were worth $2,360,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CAG. Nuveen Asset Management LLC raised its position in ConAgra Foods by 0.6% in the first quarter. Nuveen Asset Management LLC now owns 46,392 shares of the company’s stock valued at $2,070,000 after buying an additional 272 shares during the period. Panagora Asset Management Inc. raised its position in ConAgra Foods by 629.8% in the first quarter. Panagora Asset Management Inc. now owns 332,761 shares of the company’s stock valued at $14,848,000 after buying an additional 287,162 shares during the period. Arizona State Retirement System raised its position in ConAgra Foods by 2.3% in the first quarter. Arizona State Retirement System now owns 117,668 shares of the company’s stock valued at $5,250,000 after buying an additional 2,600 shares during the period. Squarepoint Ops LLC bought a new position in ConAgra Foods during the first quarter valued at approximately $725,000. Finally, Phocas Financial Corp. bought a new position in ConAgra Foods during the first quarter valued at approximately $4,263,000. 74.61% of the stock is currently owned by institutional investors.
Shares of ConAgra Foods Inc. (NYSE:CAG) traded down 0.13% during trading on Monday, reaching $37.66. The company’s stock had a trading volume of 2,546,973 shares. The stock has a market capitalization of $16.49 billion, a price-to-earnings ratio of 25.21 and a beta of 0.31. ConAgra Foods Inc. has a 1-year low of $29.55 and a 1-year high of $38.02. The company’s 50-day moving average price is $42.60 and its 200 day moving average price is $45.29.
ConAgra Foods (NYSE:CAG) last issued its quarterly earnings data on Thursday, September 29th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.13. The firm earned $2.67 billion during 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 earnings per share. Analysts anticipate that ConAgra Foods Inc. will post $1.68 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Monday, October 31st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Thursday, October 27th. ConAgra Foods’s dividend payout ratio is presently 66.67%.
CAG has been the topic of several research reports. Bank of America Corp. reissued a “buy” rating and issued a $52.00 price objective on shares of ConAgra Foods in a research report on Monday, September 19th. Deutsche Bank AG dropped their target price on ConAgra Foods from $48.00 to $46.00 and set a “hold” rating on the stock in a research report on Friday, September 23rd. 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. Finally, Credit Suisse Group AG set a $50.00 target price on ConAgra Foods and gave the stock a “hold” rating in a research report on Saturday, October 1st. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $50.67.
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.