Philadelphia Trust Co. boosted its position in shares of ConAgra Foods Inc. (NYSE:CAG) by 29.5% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 529,660 shares of the company’s stock after buying an additional 120,503 shares during the period. ConAgra Foods accounts for approximately 2.2% of Philadelphia Trust Co.’s investment portfolio, making the stock its 10th largest position. Philadelphia Trust Co. owned approximately 0.12% of ConAgra Foods worth $24,952,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in CAG. BlackRock Institutional Trust Company N.A. boosted its stake in ConAgra Foods by 0.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 11,189,027 shares of the company’s stock worth $534,947,000 after buying an additional 34,667 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in ConAgra Foods by 14.7% in the second quarter. Bank of New York Mellon Corp now owns 10,627,916 shares of the company’s stock worth $508,120,000 after buying an additional 1,361,312 shares in the last quarter. BlackRock Fund Advisors boosted its stake in ConAgra Foods by 1.1% in the third quarter. BlackRock Fund Advisors now owns 7,818,139 shares of the company’s stock worth $368,313,000 after buying an additional 85,899 shares in the last quarter. Morgan Stanley boosted its stake in ConAgra Foods by 14.2% in the third quarter. Morgan Stanley now owns 7,661,458 shares of the company’s stock worth $360,930,000 after buying an additional 952,456 shares in the last quarter. Finally, FMR LLC boosted its stake in ConAgra Foods by 2.8% in the second quarter. FMR LLC now owns 6,797,594 shares of the company’s stock worth $324,993,000 after buying an additional 186,392 shares in the last quarter. Institutional investors and hedge funds own 74.47% of the company’s stock.
ConAgra Foods Inc. (NYSE:CAG) opened at 38.72 on Thursday. ConAgra Foods Inc. has a 12 month low of $29.76 and a 12 month high of $39.97. The firm has a market cap of $16.85 billion, a PE ratio of 27.31 and a beta of 0.30. The stock’s 50 day moving average is $38.45 and its 200 day moving average is $36.79.
ConAgra Foods (NYSE:CAG) last released its earnings results on Thursday, December 22nd. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.04. ConAgra Foods had a return on equity of 25.62% and a net margin of 6.00%. The company earned $2.09 billion during the quarter. During the same period last year, the business posted $0.58 EPS. ConAgra Foods’s revenue was down 32.5% compared to the same quarter last year. On average, equities analysts forecast that ConAgra Foods Inc. will post $1.69 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 1st. Shareholders of record on Monday, January 30th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Thursday, January 26th. ConAgra Foods’s dividend payout ratio (DPR) is currently 69.93%.
CAG has been the topic of a number of recent analyst reports. Credit Suisse Group AG raised their price target on shares of ConAgra Foods from $35.00 to $40.00 and gave the company a “neutral” rating in a report on Saturday, December 31st. Citigroup Inc. raised their price target on shares of ConAgra Foods from $50.00 to $51.00 and gave the company a “neutral” rating in a report on Friday, September 30th. TheStreet upgraded shares of ConAgra Foods from a “hold” rating to a “buy” rating in a research note on Thursday, September 29th. Stifel Nicolaus lifted their target price on shares of ConAgra Foods from $46.00 to $52.00 and gave the stock a “hold” rating in a research note on Wednesday, October 19th. Finally, Deutsche Bank AG lowered their target price on shares of ConAgra Foods from $48.00 to $46.00 and set a “hold” rating for the company in a research note on Friday, September 23rd. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. ConAgra Foods presently has an average rating of “Buy” and a consensus price target of $47.92.
In other news, Director Joie A. Gregor sold 3,300 shares of the firm’s stock in a transaction on Thursday, January 5th. The stock was sold at an average price of $39.01, for a total value of $128,733.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.58% of the stock is owned by company insiders.
About ConAgra Foods
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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