Russell Investments Group Ltd. boosted its position in shares of ConAgra Foods Inc. (NYSE:CAG) by 139.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 797,210 shares of the company’s stock after buying an additional 464,397 shares during the period. Russell Investments Group Ltd. owned 0.19% of ConAgra Foods worth $28,526,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in CAG. Sfmg LLC raised its stake in ConAgra Foods by 0.4% in the first quarter. Sfmg LLC now owns 12,754 shares of the company’s stock worth $514,000 after buying an additional 50 shares in the last quarter. Wells Fargo & Company MN raised its stake in ConAgra Foods by 30.3% in the first quarter. Wells Fargo & Company MN now owns 7,336,632 shares of the company’s stock worth $295,959,000 after buying an additional 1,706,553 shares in the last quarter. Korea Investment CORP raised its stake in ConAgra Foods by 10.8% in the first quarter. Korea Investment CORP now owns 767,072 shares of the company’s stock worth $30,944,000 after buying an additional 74,909 shares in the last quarter. Geode Capital Management LLC raised its stake in ConAgra Foods by 12.3% in the first quarter. Geode Capital Management LLC now owns 4,266,630 shares of the company’s stock worth $171,882,000 after buying an additional 467,789 shares in the last quarter. Finally, Meyer Handelman Co. raised its stake in ConAgra Foods by 0.6% in the first quarter. Meyer Handelman Co. now owns 647,583 shares of the company’s stock worth $26,123,000 after buying an additional 3,800 shares in the last quarter. Institutional investors own 77.81% of the company’s stock.
Shares of ConAgra Foods Inc. (NYSE:CAG) traded down 0.67% during midday trading on Friday, hitting $34.08. The stock had a trading volume of 1,429,687 shares. The company has a market cap of $14.20 billion, a P/E ratio of 23.34 and a beta of 0.32. The stock has a 50 day moving average of $35.37 and a 200-day moving average of $38.52. ConAgra Foods Inc. has a one year low of $32.93 and a one year high of $48.86.
ConAgra Foods (NYSE:CAG) last issued its quarterly earnings results on Thursday, June 29th. The company reported $0.37 EPS for the quarter, meeting analysts’ consensus estimates of $0.37. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.86 billion. ConAgra Foods had a return on equity of 20.29% and a net margin of 7.43%. ConAgra Foods’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.52 earnings per share. Analysts forecast that ConAgra Foods Inc. will post $1.86 EPS for the current fiscal year.
The firm also recently declared 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 2.48%. This is an increase from ConAgra Foods’s previous quarterly dividend of $0.20. ConAgra Foods’s dividend payout ratio is currently 57.82%.
ConAgra Foods declared that its Board of Directors has approved a share repurchase plan on Thursday, June 29th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to reacquire up to 6.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.
COPYRIGHT VIOLATION WARNING: “ConAgra Foods Inc. (CAG) Shares Bought by Russell Investments Group Ltd.” was first reported by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this news story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark law. The correct version of this news story can be accessed at https://stocknewstimes.com/2017/08/04/conagra-foods-inc-cag-shares-bought-by-russell-investments-group-ltd.html.
A number of equities research analysts have issued reports on CAG shares. Jefferies Group LLC reaffirmed a “buy” rating on shares of ConAgra Foods in a research report on Friday, June 16th. Bank of America Corporation reaffirmed a “buy” rating and issued a $43.00 price target (down previously from $44.00) on shares of ConAgra Foods in a research report on Monday, June 26th. Credit Suisse Group set a $39.00 price target on ConAgra Foods and gave the company a “hold” rating in a research report on Saturday, July 1st. Zacks Investment Research lowered ConAgra Foods from a “buy” rating to a “hold” rating in a research report on Monday, May 22nd. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $42.00 price target (down previously from $44.00) on shares of ConAgra Foods in a research report on Wednesday, June 28th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. ConAgra Foods currently has an average rating of “Hold” and an average price target of $42.72.
In related news, Director Ruth Ann Marshall sold 6,046 shares of the 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 completion of the transaction, the director now owns 89,260 shares of the company’s stock, valued at $2,965,217.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen G. Butler sold 5,848 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $35.80, for a total value of $209,358.40. 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.
Want to see what other hedge funds are holding CAG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConAgra Foods Inc. (NYSE:CAG).
Receive News & Ratings for ConAgra Foods Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConAgra Foods Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
