November 25, 2016 - By Clifton Ray · 0 Comments
Conagra Foods Inc (NYSE:CAG) institutional sentiment decreased to 0.97 in Q2 2016. Its down -0.14, from 1.11 in 2016Q1. The ratio worsened, as 279 hedge funds increased and opened new equity positions, while 251 sold and decreased positions in Conagra Foods Inc. The hedge funds in our partner’s database reported: 326.73 million shares, down from 327.94 million shares in 2016Q1. Also, the number of hedge funds holding Conagra Foods Inc in their top 10 equity positions increased from 12 to 13 for an increase of 1. Sold All: 43 Reduced: 208 Increased: 211 New Position: 68.
Conagra Brands, Inc., formerly ConAgra Foods, Inc., operates as a packaged food company. The company has a market cap of $16.30 billion. The Firm operates through two divisions: Consumer Foods and Commercial Foods. It has a 33.21 P/E ratio. The Firm sells branded and customized food products, as well as commercially branded foods.
About 742,645 shares traded hands. Conagra Brands Inc (NYSE:CAG) has risen 7.14% since April 22, 2016 and is uptrending. It has outperformed by 1.73% the S&P500.
Analysts await Conagra Brands Inc (NYSE:CAG) to report earnings on December, 27. They expect $0.44 earnings per share, down 24.14% or $0.14 from last year’s $0.58 per share. CAG’s profit will be $190.63M for 21.36 P/E if the $0.44 EPS becomes a reality. After $0.61 actual earnings per share reported by Conagra Brands Inc for the previous quarter, Wall Street now forecasts -27.87% negative EPS growth.
According to Zacks Investment Research, “Conagra Brands, Inc. manufactures and markets packaged foods for retail consumers, restaurants and institutions. Its operating segment consists of Consumer Foods and Commercial Foods. The Company offers meals, entrees, condiments, sides, snacks, specialty potatoes, milled grain ingredients, dehydrated vegetables and seasonings, and blends and flavors. Its brands include Marie Callender’s, Healthy Choice, Slim Jim, Hebrew National, Orville Redenbacher’s, Peter Pan, Reddi-wip, PAM, Snack Pack, Banquet, Chef Boyardee, Egg Beaters, Rosarita, Fleischmann’s and Hunt’s. Conagra Brands Inc., formerly known as ConAgra Foods Inc., is headquartered in Chicago, Illinois.”
Jana Partners Llc holds 14.74% of its portfolio in Conagra Brands Inc for 18.04 million shares. Csat Investment Advisory L.P. owns 65,083 shares or 6.54% of their US portfolio. Moreover, Forester Capital Management Ltd has 4.97% invested in the company for 111,889 shares. The Pennsylvania-based Symons Capital Management Inc has invested 4.91% in the stock. Sasco Capital Inc Ct, a Connecticut-based fund reported 4.06 million shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 0 insider purchases, and 8 selling transactions for $14.15 million net activity.
Ratings analysis reveals 42% of ConAgra Foods’s analysts are positive. Out of 12 Wall Street analysts rating ConAgra Foods, 5 give it “Buy”, 0 “Sell” rating, while 7 recommend “Hold”. The lowest target is $36 while the high is $56. The stock’s average target of $48.89 is 29.99% above today’s ($37.61) share price. CAG was included in 20 notes of analysts from September 16, 2015. The company was maintained on Friday, September 25 by Deutsche Bank. JP Morgan upgraded the stock to “Overweight” rating in Wednesday, September 23 report. On Wednesday, April 6 the stock rating was maintained by JP Morgan with “Overweight”. The stock has “Hold” rating given by Deutsche Bank on Friday, April 8. The stock has “Hold” rating given by Stifel Nicolaus on Wednesday, October 19. Bank of America upgraded Conagra Brands Inc (NYSE:CAG) on Friday, February 12 to “Buy” rating. On Thursday, February 25 the stock rating was initiated by Goldman Sachs with “Neutral”. The firm has “Overweight” rating by JP Morgan given on Wednesday, November 9. As per Thursday, September 24, the company rating was downgraded by TheStreet. The rating was initiated by UBS with “Neutral” on Monday, November 14.
Conagra Brands, Inc., formerly ConAgra Foods, Inc., incorporated on December 5, 1975, operates as a packaged food company. The Firm operates through two divisions: Consumer Foods and Commercial Foods. The Firm 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. Conagra Foodservice offers products to restaurants, retailers, commercial clients and other foodservice suppliers. The Firm also operates in the countries outside the United States, such as Canada and Mexico. The Company’s brands include Marie Callender’s, Healthy Choice, Slim Jim, Hebrew National, Orville Redenbacher’s, Peter Pan, Reddi-wip, PAM, Snack Pack, Banquet, Chef Boyardee, Egg Beaters, Rosarita, Fleischmann’s and Hunt’s. The Firm sells its products in grocery, convenience, mass merchandise and club stores.
More important recent Conagra Brands Inc (NYSE:CAG) news were published by: Businesswire.com which released: “ConAgra Foods Completes Spin-off of Lamb Weston Business and Becomes Conagra …” on November 10, 2016, also Businesswire.com published article titled: “Conagra Brands Announces Appointment of Craig P. Omtvedt to Its Board of Directors”, Zacks.com published: “Should You Get Rid of Conagra Brands (CAG) Now?” on November 22, 2016. More interesting news about Conagra Brands Inc (NYSE:CAG) was released by: Prnewswire.com and their article: “Marie Callender’s Partners With Habitat for Humanity on Comforts From Home Project” with publication date: November 11, 2016.
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By Clifton Ray