Ubs Oconnor Lowers stake in ConAgra Foods Inc (CAG)

ConAgra Foods Inc (CAG) : Ubs Oconnor reduced its stake in ConAgra Foods Inc by 13.93% during the most recent quarter end. The investment management company now holds a total of 1,794,581 shares of ConAgra Foods Inc which is valued at $63,689,680 after selling 290,419 shares in ConAgra Foods Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.ConAgra Foods Inc makes up approximately 1.30% of Ubs Oconnor’s portfolio.

Other Hedge Funds, Including , Capital Research Global Investors boosted its stake in CAG in the latest quarter, The investment management firm added 27,334 additional shares and now holds a total of 15,100,013 shares of ConAgra Foods Inc which is valued at $535,899,461. ConAgra Foods Inc makes up approx 0.19% of Capital Research Global Investors’s portfolio.Proshare Advisors reduced its stake in CAG by selling 11,971 shares or 29.04% in the most recent quarter. The Hedge Fund company now holds 29,249 shares of CAG which is valued at $1,003,241. ConAgra Foods Inc makes up approx 0.01% of Proshare Advisors’s portfolio.Sg Americas Securities boosted its stake in CAG in the latest quarter, The investment management firm added 15,557 additional shares and now holds a total of 70,886 shares of ConAgra Foods Inc which is valued at $3,406,781. ConAgra Foods Inc makes up approx 0.04% of Sg Americas Securities’s portfolio.Sumitomo Mitsui Asset Management Company Ltd boosted its stake in CAG in the latest quarter, The investment management firm added 54 additional shares and now holds a total of 32,703 shares of ConAgra Foods Inc which is valued at $1,556,336. ConAgra Foods Inc makes up approx 0.04% of Sumitomo Mitsui Asset Management Company Ltd’s portfolio.World Asset Management Inc reduced its stake in CAG by selling 1,037 shares or 2.36% in the most recent quarter. The Hedge Fund company now holds 42,893 shares of CAG which is valued at $2,066,585. ConAgra Foods Inc makes up approx 0.07% of World Asset Management Inc’s portfolio.

ConAgra Foods Inc opened for trading at $36.49 and hit $36.82 on the upside on Monday, eventually ending the session at $36.8, with a gain of 0.77% or 0.28 points. The heightened volatility saw the trading volume jump to 52,40,429 shares. Company has a market cap of $16,110 M.

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.

Many Wall Street Analysts have commented on ConAgra Foods Inc. UBS Initiated ConAgra Foods Inc on Nov 14, 2016 to “Neutral”, Price Target of the shares are set at $36.JP Morgan Resumed ConAgra Foods Inc on Nov 9, 2016 to “Overweight”, Price Target of the shares are set at $55.Company shares were Reiterated by Stifel on Oct 19, 2016 to “Hold”, Firm has raised the Price Target to $ 52 from a previous price target of $46 .

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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