First Mercantile Trust Co Lowers stake in ConAgra Foods Inc (CAG)

ConAgra Foods Inc (CAG) : First Mercantile Trust Co reduced its stake in ConAgra Foods Inc by 4.03% during the most recent quarter end. The investment management company now holds a total of 36,900 shares of ConAgra Foods Inc which is valued at $1,728,027 after selling 1,550 shares in ConAgra Foods Inc , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.ConAgra Foods Inc makes up approximately 0.23% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Chevy Chase Trust Holdings reduced its stake in CAG by selling 25,018 shares or 6.7% in the most recent quarter. The Hedge Fund company now holds 348,546 shares of CAG which is valued at $16,433,944. ConAgra Foods Inc makes up approx 0.09% of Chevy Chase Trust Holdings’s portfolio.West Oak Capital boosted its stake in CAG in the latest quarter, The investment management firm added 142 additional shares and now holds a total of 795 shares of ConAgra Foods Inc which is valued at $37,484. ConAgra Foods Inc makes up approx 0.03% of West Oak Capital’s portfolio.

ConAgra Foods Inc closed down -0.29 points or -0.62% at $46.83 with 29,30,359 shares getting traded on Friday. Post opening the session at $47.2, the shares hit an intraday low of $46.61 and an intraday high of $47.22 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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.

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.

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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