ConAgra Foods Inc (CAG) is Reiterated by RBC Capital Mkts to Sector Perform, Raises Price Target to $ 50

ConAgra Foods Inc (CAG) was Reiterated by RBC Capital Mkts to “Sector Perform” according to the research note released today. The brokerage firm has raised the Price Target to $ 50 from a previous price target of $48 . RBC Capital Mkts advised their investors in a research report released on Jul 1, 2016.

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 .

On the company’s financial health, ConAgra Foods Inc reported $0.52 EPS for the quarter, based on the information available during the earnings call on Jun 30, 2016. Analyst had a consensus estimate of $0.52. The company had revenue of $2827.50 million for the quarter, compared to analysts expectations of $2894.77 million. The company’s revenue was down -9.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.59 EPS.

ConAgra Foods Inc opened for trading at $46.94 and hit $47.6 on the upside on Wednesday, eventually ending the session at $47.6, with a gain of 1.06% or 0.5 points. The heightened volatility saw the trading volume jump to 68,67,401 shares. Company has a market cap of $20,773 M.

In a different news, on Apr 13, 2016, Scott E Messel (SVP, Treasurer&Asst. Secretary) sold 22,992 shares at $46.30 per share price. According to the SEC, on Apr 11, 2016, Thomas M Mcgough (President, Consumer Foods) sold 60,000 shares at $46.00 per share price. On Jan 8, 2016, Robert G Wise (SVP, Corporate Controller) sold 22,992 shares at $41.97 per share price, according to the Form-4 filing with the securities and exchange commission.

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.

ConAgra Foods Inc

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