ConAgra Foods (CAG) Getting Somewhat Positive News Coverage, Analysis Finds

News coverage about ConAgra Foods (NYSE:CAG) has trended somewhat positive recently, Accern reports. Accern scores the sentiment of media coverage by reviewing more than twenty million news and blog sources. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. ConAgra Foods earned a media sentiment score of 0.23 on Accern’s scale. Accern also gave news stories about the company an impact score of 46.2998393817311 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.

Here are some of the media headlines that may have impacted Accern Sentiment Analysis’s rankings:

Several research analysts have commented on CAG shares. Bank of America Corporation restated a “buy” rating and set a $43.00 price objective (down from $44.00) on shares of ConAgra Foods in a report on Monday, June 26th. Morgan Stanley reaffirmed an “overweight” rating and set a $42.00 target price (down previously from $43.00) on shares of ConAgra Foods in a research report on Monday, June 26th. Jefferies Group LLC reaffirmed a “buy” rating on shares of ConAgra Foods in a research report on Friday, June 16th. Zacks Investment Research cut ConAgra Foods from a “buy” rating to a “hold” rating in a research report on Monday, May 22nd. Finally, BidaskClub lowered ConAgra Foods from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 5th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $42.72.

ConAgra Foods (NYSE CAG) traded up 2.17% on Friday, reaching $34.80. The company’s stock had a trading volume of 3,276,892 shares. ConAgra Foods has a 52 week low of $32.93 and a 52 week high of $41.68. The firm has a 50 day moving average price of $34.48 and a 200 day moving average price of $38.27. The stock has a market capitalization of $14.50 billion, a P/E ratio of 23.84 and a beta of 0.32.

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

ConAgra Foods declared that its board has authorized a stock buyback plan on Thursday, June 29th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Monday, July 31st will be paid a $0.2125 dividend. This represents a $0.85 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend is Thursday, July 27th. This is a positive change from ConAgra Foods’s previous quarterly dividend of $0.20. ConAgra Foods’s dividend payout ratio is currently 57.82%.

In related news, Director Stephen G. Butler sold 5,848 shares of the company’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $35.80, for a total transaction of $209,358.40. The transaction 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 stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $33.22, for a total transaction of $200,848.12. Following the completion of the sale, the director now directly owns 89,260 shares of the company’s stock, valued at $2,965,217.20. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by corporate insiders.

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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.

Insider Buying and Selling by Quarter for ConAgra Foods (NYSE:CAG)

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