ConAgra Foods Inc. (NYSE:CAG) Plans Dividend Increase - $0.21 Per Share

Paterniano Del Favero
Agosto 9, 2017

Several hedge funds have recently made changes to their positions in DF. Russell Investments Group Ltd. boosted its position in shares of ConAgra Foods by 139.5% in the second quarter. F&V Capital Management LLC now owns 130,245 shares of the company's stock worth $5,254,000 after buying an additional 4,070 shares in the last quarter. Breton Hill Capital Ltd. boosted its position in shares of ConAgra Foods by 32.2% in the second quarter. Alpha Windward LLC boosted its stake in ConAgra Foods by 7.9% in the first quarter. Bank of New York Mellon Corp now owns 8,445,440 shares of the company's stock valued at $302,009,000 after buying an additional 285,685 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of ConAgra Foods by 30.3% in the first quarter. BlackRock Inc. now owns 26,966,885 shares of the company's stock valued at $1,087,846,000 after buying an additional 26,020,645 shares during the last quarter. The fund owned 42,433 shares of the company's stock at the end of the second quarter. Robeco Institutional Asset Management B.v. expanded its holdings by buying 157,583 shares an increase of 53.7%. Webster Financial Bank N A stated it has 0.01% of its portfolio in Conagra Brands Inc (NYSE:CAG). 3,619,896 shares of the company's stock were exchanged. The market capitalization of the company is at $14.37 Billion. The stock has a 50-day moving average price of $34.95 and a 200-day moving average price of $38.43.

ConAgra Foods Inc. has a one year low of $32.93 and a one year high of $48.86.

Shares of ConAgra Foods (CAG) traded up 0.50% during midday trading on Tuesday, reaching $34.34. The company reported $0.37 EPS for the quarter, meeting the consensus estimate of $0.37. The company had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.86 billion. ConAgra Foods had a return on equity of 20.29% and a net margin of 7.43%.

Among 13 analysts covering ConAgra Foods (NYSE:CAG), 7 have Buy rating, 2 Sell and 4 Hold. During the same quarter in the prior year, the company posted $0.52 earnings per share. Analysts forecast that ConAgra Foods Inc. will post $1.86 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st.

More notable recent Conagra Brands Inc (NYSE:CAG) news were published by: Prnewswire.com which released: "Gulden's Becomes Official Mustard Of The Chicago Cubs" on August 03, 2017, also Nasdaq.com with their article: "Why Is Conagra Brands (CAG) Down 14.5% Since the Last Earnings Report?" published on July 31, 2017, Nasdaq.com published: "Ex-Dividend Reminder: RioCan REIT, Conagra Brands and REV Group" on July 25, 2017. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.49%. This is an increase from ConAgra Foods's previous quarterly dividend of $0.20. ConAgra Foods's payout ratio is 57.82%.

ConAgra Foods declared that its Board of Directors has initiated a stock repurchase plan on Thursday, June 29th that permits the company to buyback $1.00 billion in outstanding shares. IFP Advisors Inc now owns 14,020 shares of the company's stock worth $276,000 after buying an additional 9,424 shares during the period. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

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A number of research firms have issued reports on CAG.

On October 14 the stock rating was upgraded from " to "Outperform" and a price target of $54.00 was set in a report issued by RBC Capital. J P Morgan Chase & Co decreased their target price on shares of ConAgra Foods from $45.00 to $44.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 31st. Bank of America Corporation reissued a "buy" rating and issued a $43.00 price target (down previously from $44.00) on shares of ConAgra Foods in a research note on Monday, June 26th. Finally, Zacks Investment Research upgraded ConAgra Foods from a "sell" rating to a "hold" rating in a report on Friday, June 2nd. Finally, BidaskClub downgraded ConAgra Foods from a "sell" rating to a "strong sell" rating in a report on Wednesday, July 5th.

Among 23 analysts covering General Electric Company (NYSE:GE), 11 have Buy rating, 3 Sell and 9 Hold. The stock has a consensus rating of "Hold" and a consensus target price of $42.72. MARSHALL RUTH ANN sold $245,528 worth of stock. The stock was sold at an average price of $35.80, for a total transaction of $209,358.40. The Capstone Investment Advisors Llc holds 2,300 shares with $208,000 value, down from 16,244 last quarter. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen G. Butler sold 5,848 shares of ConAgra Foods stock in a transaction dated Monday, July 3rd. Capstone Investment Advisors Llc sold 13,944 shares as Copa Holdings Sa (CPA)'s stock rose 4.80%. The disclosure for this sale can be found here.

Since March 29, 2017, it had 0 insider purchases, and 1 insider sale for $245,528 activity.

Neuberger Berman Group LLC reports that it sold 1,080,286 shares in quarter ending 06/30/2017 decreasing its exposure to ConAgra Brands, Inc.by 18.7%. The Firm operates through two divisions: Consumer Foods and Commercial Foods.

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