ConAgra Foods Inc. (CAG) Stake Reduced by British Columbia Investment Management Corp
British Columbia Investment Management Corp reduced its position in shares of ConAgra Foods Inc. (NYSE:CAG) by 16.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 157,990 shares of the company’s stock after selling 31,515 shares during the period. British Columbia Investment Management Corp’s holdings in ConAgra Foods were worth $7,443,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the stock. Arizona State Retirement System raised its position in shares of ConAgra Foods by 2.3% in the first quarter. Arizona State Retirement System now owns 117,668 shares of the company’s stock worth $5,250,000 after buying an additional 2,600 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of ConAgra Foods during the first quarter worth about $725,000. BlueMountain Capital Management LLC raised its position in shares of ConAgra Foods by 594.9% in the first quarter. BlueMountain Capital Management LLC now owns 6,588 shares of the company’s stock worth $294,000 after buying an additional 5,640 shares during the last quarter. Spirit of America Management Corp NY raised its position in shares of ConAgra Foods by 46.8% in the second quarter. Spirit of America Management Corp NY now owns 6,900 shares of the company’s stock worth $330,000 after buying an additional 2,200 shares during the last quarter. Finally, DNB Asset Management AS raised its position in shares of ConAgra Foods by 4.8% in the second quarter. DNB Asset Management AS now owns 45,571 shares of the company’s stock worth $2,179,000 after buying an additional 2,100 shares during the last quarter. 74.61% of the stock is currently owned by institutional investors.
Shares of ConAgra Foods Inc. (NYSE:CAG) traded down 2.65% on Wednesday, reaching $36.72. The company’s stock had a trading volume of 2,276,606 shares. The stock has a 50-day moving average of $42.60 and a 200 day moving average of $45.29. The stock has a market capitalization of $16.07 billion, a price-to-earnings ratio of 24.58 and a beta of 0.31. ConAgra Foods Inc. has a 52 week low of $29.55 and a 52 week high of $38.02.
ConAgra Foods (NYSE:CAG) last announced its earnings results on Thursday, September 29th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.13. ConAgra Foods had a return on equity of 28.48% and a net margin of 5.76%. The firm earned $2.67 billion during the quarter. During the same quarter in the previous year, the company earned $0.41 EPS. ConAgra Foods’s revenue for the quarter was down 4.6% compared to the same quarter last year. On average, analysts expect that ConAgra Foods Inc. will post $1.68 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Investors 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 yield of 2.65%. ConAgra Foods’s payout ratio is 66.67%.
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CAG has been the topic of a number of recent analyst reports. Bank of America Corp. reaffirmed a “buy” rating and issued a $52.00 target price on shares of ConAgra Foods in a research report on Monday, September 19th. Deutsche Bank AG lowered their price target on ConAgra Foods from $48.00 to $46.00 and set a “hold” rating for the company in a report on Friday, September 23rd. Citigroup Inc. boosted their price target on ConAgra Foods from $50.00 to $51.00 and gave the company a “neutral” rating in a report on Friday, September 30th. TheStreet upgraded ConAgra Foods from a “hold” rating to a “buy” rating in a report on Thursday, September 29th. Finally, Credit Suisse Group AG set a $50.00 price target on ConAgra Foods and gave the company a “hold” rating in a report on Saturday, October 1st. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $50.67.
ConAgra Foods Company Profile
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.
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