Regentatlantic Capital LLC maintained its position in ConAgra Foods Inc. (NYSE:CAG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,222 shares of the company’s stock at the end of the second quarter. Regentatlantic Capital LLC’s holdings in ConAgra Foods were worth $938,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. bought a new stake in shares of ConAgra Foods during the first quarter worth about $110,000. Advisors Asset Management Inc. increased its stake in shares of ConAgra Foods by 75.7% in the first quarter. Advisors Asset Management Inc. now owns 2,987 shares of the company’s stock worth $120,000 after buying an additional 1,287 shares during the period. Alpha Windward LLC increased its stake in shares of ConAgra Foods by 5.8% in the second quarter. Alpha Windward LLC now owns 3,578 shares of the company’s stock worth $128,000 after buying an additional 196 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in shares of ConAgra Foods by 53.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,833 shares of the company’s stock worth $137,000 after buying an additional 1,333 shares during the period. Finally, Rational Advisors LLC increased its stake in shares of ConAgra Foods by 14.3% in the first quarter. Rational Advisors LLC now owns 3,507 shares of the company’s stock worth $141,000 after buying an additional 438 shares during the period. 77.33% of the stock is owned by hedge funds and other institutional investors.
ConAgra Foods Inc. (CAG) opened at 35.14 on Thursday. The company’s 50-day moving average price is $34.28 and its 200-day moving average price is $38.17. The stock has a market capitalization of $14.64 billion, a PE ratio of 24.07 and a beta of 0.32. ConAgra Foods Inc. has a one year low of $32.93 and a one year high of $48.86.
ConAgra Foods (NYSE:CAG) last announced its quarterly earnings results on Thursday, June 29th. The company reported $0.37 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.37. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.86 billion. ConAgra Foods had a return on equity of 20.29% and a net margin of 7.43%. The firm’s revenue was down 9.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.52 earnings per share. Equities research analysts predict that ConAgra Foods Inc. will post $1.86 EPS for the current year.
ConAgra Foods announced that its Board of Directors has authorized a stock buyback program on Thursday, June 29th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Monday, July 31st will be paid a dividend of $0.2125 per share. The ex-dividend date of this dividend is Thursday, July 27th. This is a positive change from ConAgra Foods’s previous quarterly dividend of $0.20. This represents a $0.85 annualized dividend and a yield of 2.42%. ConAgra Foods’s dividend payout ratio is currently 57.82%.
A number of brokerages have issued reports on CAG. Credit Suisse Group reaffirmed a “hold” rating and issued a $39.00 target price on shares of ConAgra Foods in a research note on Friday, August 11th. BidaskClub upgraded ConAgra Foods from a “strong sell” rating to a “sell” rating in a report on Saturday, August 12th. UBS AG reiterated a “sell” rating and set a $33.00 price target (down from $35.00) on shares of ConAgra Foods in a report on Friday, June 30th. J P Morgan Chase & Co reiterated an “overweight” rating and set a $42.00 price target (down from $44.00) on shares of ConAgra Foods in a report on Wednesday, June 28th. Finally, Bank of America Corporation reiterated a “buy” rating and set a $43.00 price target (down from $44.00) on shares of ConAgra Foods in a report on Monday, June 26th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $42.72.
In other ConAgra Foods news, Director Stephen G. Butler sold 5,848 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $35.80, for a total transaction of $209,358.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ruth Ann Marshall sold 6,046 shares of the company’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $33.22, for a total value of $200,848.12. Following the sale, the director now owns 89,260 shares of the company’s stock, valued at $2,965,217.20. The disclosure for this sale can be found here. Corporate insiders own 0.58% of the company’s stock.
ConAgra Foods Company Profile
Conagra Brands, Inc, formerly ConAgra Foods, Inc, operates as a packaged food company. The Company operates through two segments: Consumer Foods and Commercial Foods. The Company sells branded and customized food products, as well as commercially branded foods. It also supplies vegetable, spice and grain products to a range of restaurants, foodservice operators and commercial customers.
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