Headlines about ConAgra Foods (NYSE:CAG) have trended somewhat positive on Monday, Accern Sentiment Analysis reports. The research group identifies positive and negative media coverage by monitoring more than 20 million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. ConAgra Foods earned a media sentiment score of 0.17 on Accern’s scale. Accern also assigned news articles about the company an impact score of 45.7296276968077 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
These are some of the news articles that may have effected Accern’s scoring:
- Reviewing Dean Foods (DF) and ConAgra Foods (CAG) (americanbankingnews.com)
- ConAgra Foods Inc. (CAG) Shares Bought by F&V Capital Management LLC (latribunadecanarias.com)
- Main Street Research LLC Boosts Position in ConAgra Foods Inc. (NYSE:CAG) (thewestcoastsportsblog.com)
- ConAgra Foods Inc. (CAG) Stake Boosted by Whitnell & Co (bulhufas.com)
- Capital Investment Advisors LLC Reduces Stake in ConAgra Foods Inc. (CAG) (elcumanes.com)
ConAgra Foods (CAG) opened at 34.24 on Monday. The firm has a market capitalization of $14.26 billion, a PE ratio of 23.45 and a beta of 0.33. ConAgra Foods has a 52-week low of $32.93 and a 52-week high of $48.86. The stock’s 50 day moving average price is $35.64 and its 200 day moving average price is $38.59.
ConAgra Foods (NYSE:CAG) last posted its quarterly earnings data on Thursday, June 29th. The company reported $0.37 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.37. ConAgra Foods had a return on equity of 20.29% and a net margin of 7.43%. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the company posted $0.52 EPS. The business’s quarterly revenue was down 9.3% on a year-over-year basis. On average, analysts predict that ConAgra Foods will post $1.86 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Monday, July 31st will be paid a $0.2125 dividend. The ex-dividend date is Thursday, July 27th. This is an increase from ConAgra Foods’s previous quarterly dividend of $0.20. This represents a $0.85 annualized dividend and a dividend yield of 2.48%. ConAgra Foods’s dividend payout ratio (DPR) is currently 57.82%.
ConAgra Foods announced that its Board of Directors has approved a stock buyback plan on Thursday, June 29th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
CAG has been the subject of a number of recent research reports. UBS AG downgraded ConAgra Foods from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $38.00 to $35.00 in a research report on Tuesday, April 25th. Zacks Investment Research cut ConAgra Foods from a “buy” rating to a “hold” rating in a research note on Monday, May 22nd. J P Morgan Chase & Co decreased their price objective on ConAgra Foods from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Wednesday, May 31st. Jefferies Group LLC reaffirmed a “buy” rating on shares of ConAgra Foods in a research note on Friday, June 16th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $42.00 price objective (down from $43.00) on shares of ConAgra Foods in a research note on Monday, June 26th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. ConAgra Foods has an average rating of “Hold” and an average price target of $42.72.
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In other news, Director Stephen G. Butler sold 5,848 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $35.80, for a total value of $209,358.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ruth Ann Marshall sold 6,046 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $33.22, for a total value of $200,848.12. Following the completion of 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. Company insiders own 0.58% of the company’s stock.
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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