Notable Reporting: Is Selling Stock Like ConAgra Foods Inc After Such Gap Down a Winning Strategy?

Notable Reporting: Is Selling Stock Like ConAgra Foods Inc After Such Gap Down a Winning Strategy?

The stock of ConAgra Foods Inc (NYSE:CAG) gapped down by $9.36 today and has $31.89 target or 7.00% below today’s $34.29 share price. The 5 months technical chart setup indicates high risk for the $14.76 billion company. The gap down was reported on Nov, 10 by Barchart.com. If the $31.89 price target is reached, the company will be worth $1.03B less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 12.06M shares traded hands or 1059.62% up from the average. ConAgra Foods Inc (NYSE:CAG) has risen 3.68% since April 8, 2016 and is uptrending. It has underperformed by 1.96% the S&P500.

ConAgra Foods Inc (NYSE:CAG) Ratings Coverage

Out of 11 analysts covering ConAgra Foods (NYSE:CAG), 5 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 45% are positive. ConAgra Foods has been the topic of 19 analyst reports since September 16, 2015 according to StockzIntelligence Inc. Deutsche Bank maintained ConAgra Foods Inc (NYSE:CAG) on Friday, September 23 with “Hold” rating. Bank of America upgraded the stock to “Buy” rating in Friday, February 12 report. The company was maintained on Friday, July 1 by RBC Capital Markets. The company was initiated on Thursday, February 25 by Goldman Sachs. The stock of ConAgra Foods Inc (NYSE:CAG) has “Overweight” rating given on Wednesday, November 9 by JP Morgan. The firm has “Outperform” rating by RBC Capital Markets given on Friday, October 14. The firm has “Neutral” rating given on Friday, April 8 by Citigroup. Stifel Nicolaus maintained ConAgra Foods Inc (NYSE:CAG) rating on Wednesday, October 19. Stifel Nicolaus has “Hold” rating and $52 price target. The firm has “Overweight” rating given on Wednesday, September 23 by JP Morgan. The rating was downgraded by TheStreet on Thursday, September 24 to “Hold”.

According to Zacks Investment Research, “ConAgra Foods, Inc. operates as a packaged food company. It operates in four segments: Consumer Foods, Commercial Foods, Ralcorp Food Group, and Ralcorp Frozen Bakery Products. The Company offers a wide range of food products, including meals, entrees, condiments, sides, snacks, specialty potato products, milled grain ingredients, dehydrated vegetables and seasonings, and blends and flavors. ConAgra Foods, Inc. is headquartered in Omaha, Nebraska.”

Insitutional Activity: The institutional sentiment increased to 1.11 in 2016 Q2. Its up 0.15, from 0.96 in 2016Q1. The ratio increased, as 43 funds sold all ConAgra Foods Inc shares owned while 208 reduced positions. 68 funds bought stakes while 211 increased positions. They now own 326.73 million shares or 0.37% less from 327.94 million shares in 2016Q1.
Nomura last reported 0.02% of its portfolio in the stock. Cadinha & Lc has 0.11% invested in the company for 10,600 shares. West Oak Lc, a California-based fund reported 653 shares. Oregon Employees Retirement Fund accumulated 97,452 shares or 0.1% of the stock. Curbstone Fincl Mgmt Corp holds 0.22% of its portfolio in ConAgra Foods Inc (NYSE:CAG) for 14,000 shares. Wetherby Asset Management has invested 0.09% of its portfolio in ConAgra Foods Inc (NYSE:CAG). Exane Derivatives last reported 549 shares in the company. Gsa Cap Prtnrs Ltd Liability Partnership accumulated 0.03% or 10,668 shares. Stonebridge Capital Advsrs Ltd Llc holds 0.1% of its portfolio in ConAgra Foods Inc (NYSE:CAG) for 6,400 shares. Indexiq Advisors Limited Co holds 0.09% of its portfolio in ConAgra Foods Inc (NYSE:CAG) for 32,100 shares. Moreover, Pinnacle Assocs Limited has 0.02% invested in ConAgra Foods Inc (NYSE:CAG) for 15,511 shares. The Switzerland-based Gam Hldgs Ag has invested 0.04% in ConAgra Foods Inc (NYSE:CAG). Utah Retirement Sys has 79,855 shares for 0.1% of their US portfolio. Mercer Capital Advisers last reported 0.02% of its portfolio in the stock. The United Kingdom-based Cantab Capital Prns Ltd Liability Partnership has invested 0% in ConAgra Foods Inc (NYSE:CAG).

Insider Transactions: Since July 5, 2016, the stock had 0 insider purchases, and 8 sales for $14.15 million net activity. $712,877 worth of ConAgra Foods Inc (NYSE:CAG) shares were sold by Johri Rajive. Wise Robert G sold $752,366 worth of ConAgra Foods Inc (NYSE:CAG) on Friday, July 15. $7.66M worth of ConAgra Foods Inc (NYSE:CAG) shares were sold by Gehring John. $221,597 worth of ConAgra Foods Inc (NYSE:CAG) shares were sold by BUTLER STEPHEN G. 41,470 shares were sold by GOLDSTONE STEVEN F, worth $1.99M. $221,972 worth of ConAgra Foods Inc (NYSE:CAG) was sold by JURGENSEN WILLIAM G on Friday, July 8.

More news for ConAgra Foods Inc (NYSE:CAG) were recently published by: Businesswire.com, which released: “ConAgra Foods Completes Spin-off of Lamb Weston Business and Becomes Conagra …” on November 10, 2016. Forbes.com‘s article titled: “ConAgra Foods To Spin-Off Lamb Weston On November 9, 2016” and published on October 12, 2016 is yet another important article.

CAG Company Profile

ConAgra Foods, Inc., incorporated on December 5, 1975, operates as a packaged food company. The Firm operates through two divisions: Consumer Foods and Commercial Foods. The Firm sells branded, private branded and customized food products, as well as commercially branded foods and ingredients. It also supplies frozen potato and sweet potato products, as well as other vegetable, spice and grain products to a range of restaurants, foodservice operators and commercial customers. The Company’s brands include Marie Callender’s, Healthy Choice, Slim Jim, Hebrew National, Orville Redenbacher’s, Peter Pan, Reddi-wip, PAM, Snack Pack, Banquet, Chef Boyardee, Egg Beaters and Hunt’s. The Firm sells its products in grocery, convenience, mass merchandise and club stores.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Leave a Comment