Argent Capital Management Lowers stake in ConAgra Foods Inc (CAG)

ConAgra Foods Inc (CAG) : Argent Capital Management reduced its stake in ConAgra Foods Inc by 0.43% during the most recent quarter end. The investment management company now holds a total of 1,932,919 shares of ConAgra Foods Inc which is valued at $89,204,212 after selling 8,377 shares in ConAgra Foods Inc , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.ConAgra Foods Inc makes up approximately 3.78% of Argent Capital Management’s portfolio.

Other Hedge Funds, Including , Bb&t Securities reduced its stake in CAG by selling 15,998 shares or 28.41% in the most recent quarter. The Hedge Fund company now holds 40,307 shares of CAG which is valued at $1,866,617. ConAgra Foods Inc makes up approx 0.03% of Bb&t Securities’s portfolio.Mutual Of America Capital Management reduced its stake in CAG by selling 998 shares or 1.92% in the most recent quarter. The Hedge Fund company now holds 50,975 shares of CAG which is valued at $2,392,767. ConAgra Foods Inc makes up approx 0.05% of Mutual Of America Capital Management’s portfolio.Aberdeen Asset Management Plcuk boosted its stake in CAG in the latest quarter, The investment management firm added 7,272 additional shares and now holds a total of 120,709 shares of ConAgra Foods Inc which is valued at $5,666,080. ConAgra Foods Inc makes up approx 0.02% of Aberdeen Asset Management Plcuk’s portfolio.

ConAgra Foods Inc closed down -0.3 points or -0.64% at $46.28 with 13,12,827 shares getting traded on Monday. Post opening the session at $46.53, the shares hit an intraday low of $46.27 and an intraday high of $46.58 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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.

Many Wall Street Analysts have commented on ConAgra Foods Inc. Company shares were Reiterated by RBC Capital Mkts on Jul 1, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 50 from a previous price target of $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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