ConAgra Foods Inc (CAG) is Upgraded by RBC Capital Mkts to Outperform, Raises Price Target to $ 54

ConAgra Foods Inc (CAG) was Upgraded by RBC Capital Mkts to ” Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 54 from a previous price target of $50 . Earlier the firm had a rating of “Sector Perform ” on the company shares. RBC Capital Mkts advised their investors in a research report released on Oct 14, 2016.

On the company’s financial health, ConAgra Foods Inc reported $0.61 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on Sep 29, 2016. Analyst had a consensus of $0.48. The company had revenue of $2667.50 million for the quarter, compared to analysts expectations of $2729.74 million. The company’s revenue was down -4.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.45 EPS.

ConAgra Foods Inc closed down -0.4 points or -0.84% at $46.98 with 23,13,067 shares getting traded on Tuesday. Post opening the session at $47.38, the shares hit an intraday low of $46.86 and an intraday high of $47.5 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

Investors should note that on Sep 23, 2016, ConAgra Foods Inc announced a cash dividend of $0.2500. The company’s management has announced Oct 27, 2016 as the ex-dividend date and fixed the record date on Oct 31, 2016. The payable date has been fixed on Nov 30, 2016.

In a different news, on Jul 19, 2016, Robert G Wise (SVP, Corporate Controller) sold 15,708 shares at $47.90 per share price. According to the SEC, on Jul 8, 2016, Rajive Johri (director) sold 15,000 shares at $47.53 per share price. On Jul 8, 2016, William G Jurgensen (director) sold 4,636 shares at $47.88 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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