Fox Point Capital Management Lowers stake in ConAgra Foods Inc (CAG)

ConAgra Foods Inc (CAG) : Fox Point Capital Management reduced its stake in ConAgra Foods Inc by 40.0% during the most recent quarter end. The investment management company now holds a total of 75,000 shares of ConAgra Foods Inc which is valued at $3.4 Million after selling 50,000 shares in ConAgra Foods Inc , the firm said in a disclosure report filed with the SEC on May 13, 2016.ConAgra Foods Inc makes up approximately 4.71% of Fox Point Capital Management’s portfolio.

Other Hedge Funds, Including , Quadrature Capital Ltd boosted its stake in CAG in the latest quarter, The investment management firm added 79,324 additional shares and now holds a total of 92,237 shares of ConAgra Foods Inc which is valued at $4.2 Million. ConAgra Foods Inc makes up approx 0.59% of Quadrature Capital Ltd’s portfolio.Sasco Capital Inc Ct reduced its stake in CAG by selling 377,579 shares or 8.17% in the most recent quarter. The Hedge Fund company now holds 4,243,231 shares of CAG which is valued at $194.7 Million. ConAgra Foods Inc makes up approx 4.85% of Sasco Capital Inc Ct’s portfolio.Qci Asset Management Incny reduced its stake in CAG by selling 336 shares or 30.94% in the most recent quarter. The Hedge Fund company now holds 750 shares of CAG which is valued at $34,410. ConAgra Foods Inc makes up approx 0.01% of Qci Asset Management Incny’s portfolio.Aperio Group boosted its stake in CAG in the latest quarter, The investment management firm added 18,935 additional shares and now holds a total of 159,676 shares of ConAgra Foods Inc which is valued at $7.1 Million. ConAgra Foods Inc makes up approx 0.06% of Aperio Group’s portfolio.

ConAgra Foods Inc opened for trading at $44.55 and hit $44.845 on the upside on Wednesday, eventually ending the session at $44.72, with a gain of 0.29% or 0.13 points. The heightened volatility saw the trading volume jump to 15,20,121 shares. Company has a market cap of $19,516 M.

On the company’s financial health, ConAgra Foods Inc reported $0.68 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Apr 7, 2016. Analyst had a consensus of $0.58. The company had revenue of $2924.00 million for the quarter, compared to analysts expectations of $2857.41 million. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 EPS.

Many Wall Street Analysts have commented on ConAgra Foods Inc. Company shares were Reiterated by Jefferies on Apr 8, 2016 to “Buy”, Firm has raised the Price Target to $ 52 from a previous price target of $50 .Company shares were Reiterated by RBC Capital Mkts on Apr 4, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 48 from a previous price target of $46 .Goldman Resumed ConAgra Foods Inc on Feb 25, 2016 to “Neutral”, Price Target of the shares are set at $48.

ConAgra Foods Inc. operates as a packaged food company. The Company offers branded and private branded food to households as well as commercial foods which serves various restaurants and foodservice operations. The Company operates in three segments: Consumer Foods Commercial Foods and Private Brands. Its brands include Banquet Chef Boyardee Egg Beaters Healthy Choice Hebrew National Hunt’s Marie Callender’s Orville Redenbacher’s PAM Peter Pan Reddi-wip Slim Jim and Snack Pack among others. The Company sells its products under private brand labels in grocery convenience mass merchandise club and drug stores. Additionally ConAgra Foods supplies frozen potato and sweet potato products as well as other vegetable spice bakery and grain products to restaurants commercial and foodservice customers. It has international manufacturing facilities in Argentina Mexico and interests in ownership of international manufacturing facilities in India and Mexico.

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