NN Investment Partners Holdings N.V. Has $1.25 Million Position in ConAgra Foods Inc. (CAG)

NN Investment Partners Holdings N.V. reduced its position in shares of ConAgra Foods Inc. (NYSE:CAG) by 95.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,818 shares of the company’s stock after selling 799,475 shares during the period. NN Investment Partners Holdings N.V.’s holdings in ConAgra Foods were worth $1,245,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of CAG. Pennsylvania Trust Co purchased a new position in ConAgra Foods during the second quarter worth $1,426,000. Gateway Investment Advisers LLC raised its position in ConAgra Foods by 19.3% in the second quarter. Gateway Investment Advisers LLC now owns 618,564 shares of the company’s stock worth $22,120,000 after buying an additional 100,003 shares in the last quarter. F&V Capital Management LLC raised its position in ConAgra Foods by 0.7% in the second quarter. F&V Capital Management LLC now owns 131,145 shares of the company’s stock worth $4,690,000 after buying an additional 900 shares in the last quarter. Heritage Investors Management Corp raised its position in ConAgra Foods by 36.8% in the second quarter. Heritage Investors Management Corp now owns 11,525 shares of the company’s stock worth $412,000 after buying an additional 3,100 shares in the last quarter. Finally, City Holding Co. raised its position in ConAgra Foods by 12.4% in the second quarter. City Holding Co. now owns 25,759 shares of the company’s stock worth $921,000 after buying an additional 2,850 shares in the last quarter. 75.89% of the stock is owned by institutional investors and hedge funds.

Shares of ConAgra Foods Inc. (CAG) opened at 33.88 on Friday. The firm’s 50-day moving average is $36.58 and its 200 day moving average is $38.80. The stock has a market capitalization of $14.24 billion, a P/E ratio of 22.89 and a beta of 0.33. ConAgra Foods Inc. has a 1-year low of $32.93 and a 1-year high of $48.86.

ConAgra Foods (NYSE:CAG) last posted its quarterly earnings results on Thursday, June 29th. The company reported $0.37 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.37. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.86 billion. ConAgra Foods had a net margin of 7.43% and a return on equity of 20.29%. The firm’s revenue was down 9.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.52 earnings per share. On average, analysts expect that ConAgra Foods Inc. will post $1.86 EPS for the current fiscal year.

ConAgra Foods declared that its board has approved a share repurchase program on Thursday, June 29th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 6.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Monday, July 31st will be issued a $0.2125 dividend. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $0.85 dividend on an annualized basis and a yield of 2.51%. This is an increase from ConAgra Foods’s previous quarterly dividend of $0.20. ConAgra Foods’s dividend payout ratio is currently 54.42%.

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A number of equities analysts have recently weighed in on the stock. BidaskClub lowered shares of ConAgra Foods from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 5th. Credit Suisse Group AG set a $39.00 price objective on shares of ConAgra Foods and gave the company a “hold” rating in a research report on Saturday, July 1st. UBS AG reissued a “sell” rating and issued a $33.00 price objective (down previously from $35.00) on shares of ConAgra Foods in a research report on Friday, June 30th. J P Morgan Chase & Co reissued an “overweight” rating and issued a $42.00 price objective (down previously from $44.00) on shares of ConAgra Foods in a research report on Wednesday, June 28th. Finally, Bank of America Corporation reissued a “buy” rating and issued a $43.00 price objective (down previously from $44.00) on shares of ConAgra Foods in a research report on Monday, June 26th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $42.72.

In related news, Director Stephen G. Butler sold 5,848 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $35.80, for a total value of $209,358.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Ruth Ann Marshall sold 6,046 shares of the stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $33.22, for a total value of $200,848.12. Following the completion of the transaction, the director now owns 89,260 shares in the company, valued at approximately $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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