The stock of ConAgra Foods Inc (NYSE:CAG) hit a new 52-week low and has $32.26 target or 9.00% below today’s $35.45 share price. The 8 months bearish chart indicates high risk for the $15.25 billion company. The 1-year low was reported on Nov, 10 by Barchart.com. If the $32.26 price target is reached, the company will be worth $1.37 billion less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 684,491 shares traded hands. 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. $56 is the highest target while $43 is the lowest. The $50.50 average target is 42.45% above today’s ($35.45) stock price. ConAgra Foods has been the topic of 19 analyst reports since September 16, 2015 according to StockzIntelligence Inc. The company was initiated on Thursday, February 25 by Goldman Sachs. The firm earned “Overweight” rating on Wednesday, November 9 by JP Morgan. The firm has “Hold” rating given on Friday, September 25 by Deutsche Bank. JP Morgan upgraded the shares of CAG in a report on Wednesday, September 23 to “Overweight” rating. Deutsche Bank maintained it with “Hold” rating and $46 target price in Friday, September 23 report. The stock of ConAgra Foods Inc (NYSE:CAG) earned “Neutral” rating by Citigroup on Friday, April 8. The stock of ConAgra Foods Inc (NYSE:CAG) has “Outperform” rating given on Friday, October 14 by RBC Capital Markets. Jefferies initiated the stock with “Buy” rating in Wednesday, December 16 report. Jefferies maintained it with “Buy” rating and $56 target price in Wednesday, July 27 report. The rating was upgraded by Bank of America to “Buy” on Friday, February 12.
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 is positive, 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.
Gsa Prns Llp accumulated 0.03% or 10,668 shares. The Colorado-based Cetera Advsrs Limited Com has invested 0.02% in ConAgra Foods Inc (NYSE:CAG). Wfg L P last reported 1,495 shares in the company. Ig Invest Ltd reported 57,603 shares or 0.01% of all its holdings. Cambridge Investment Inc accumulated 0.05% or 50,286 shares. Iberiabank last reported 0.13% of its portfolio in the stock. Rothschild Investment Il reported 8,854 shares or 0.05% of all its holdings. Point72 Asset L P last reported 115,900 shares in the company. Moreover, Douglass Winthrop Ltd Llc has 0.02% invested in ConAgra Foods Inc (NYSE:CAG) for 5,600 shares. Acadian Asset Mgmt Ltd Liability Corp has 26,026 shares for 0.01% of their US portfolio. Patten And Patten Inc Tn has 0.06% invested in the company for 9,525 shares. Moreover, Moneta Inv Limited Liability Corp has 0.56% invested in ConAgra Foods Inc (NYSE:CAG) for 53,360 shares. Argyle Mgmt holds 1.17% or 57,570 shares in its portfolio. Verition Fund Mgmt Lc has 0.04% invested in the company for 6,540 shares. Nomura Inc accumulated 126,875 shares or 0.02% of the stock.
Insider Transactions: Since July 5, 2016, the stock had 0 buys, and 8 selling transactions for $14.15 million net activity. $221,597 worth of ConAgra Foods Inc (NYSE:CAG) was sold by BUTLER STEPHEN G on Thursday, July 7. Johri Rajive sold $712,877 worth of ConAgra Foods Inc (NYSE:CAG) on Wednesday, July 6. Shares for $221,972 were sold by JURGENSEN WILLIAM G. $7.66M worth of ConAgra Foods Inc (NYSE:CAG) shares were sold by Gehring John. $1.99M worth of ConAgra Foods Inc (NYSE:CAG) was sold by GOLDSTONE STEVEN F on Thursday, July 7. Wise Robert G also sold $1.77 million worth of ConAgra Foods Inc (NYSE:CAG) on Tuesday, July 5.
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.
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