ConAgra (NYSE:CAG) Reaching An Inflection Point; Jefferies Coverage Initiated as “Buy”


How Jefferies Currently Rates ConAgra (NYSE:CAG)

In a very recent research note released on Wednesday, 16 December, Jefferies analyst just have initiated coverage of ConAgra (NYSE:CAG) with “Buy” rating.

From a total of 9 analysts covering ConAgra Foods (NYSE:CAG) stock, 4 rate it a ”Buy”, 0 a “Sell”, and 7 a ”Hold”. This means that 36% of the ratings are positive. The highest target price is $47 while the lowest target price is $42. The mean of all analyst targets is $45.44 with a 12.91% above today’s ($40.74) stock price. ConAgra Foods was the topic of 5 analyst reports since September 16, 2015 according to the firm StockzIntelligence Inc. Deutsche Bank maintained shares on September 25 with “Hold” rating. JP Morgan upgraded CAG stock in a recent report from September 23 to “Overweight” rating.

Approximately 1.06 million shares of stock traded hands. ConAgra Foods Inc (NYSE:CAG) has risen 5.74% since May 13, 2015 and is uptrending. It has outperformed by 8.36% the S&P500.

Analysts await ConAgra Foods Inc (NYSE:CAG) to reports earnings on December, 17. They expect $0.59 earnings per share, down 3.28% or $0.02 from last year’s $0.61 per share. CAG’s profit will be $248.89M for 17.27 P/E if the $0.59 EPS becomes reality. After $0.45 actual earnings per share reported by ConAgra Foods Inc for the previous quarter, Wall Street now forecasts 31.11% EPS growth.

The overall sentiment of institutions has increased to 0.88 in Q2 2015. Its up 0.17, from 0.71 in 2015Q2. The ratio improved, as 67 institutions have sold all the shares of ConAgra Foods Inc that they owned while 227 funds have taken shares off the table. 57 funds have purchased shares for the first time while 203 added to their positions. These institutions now hold 337.59 million shares or 8.68% more than the 310.63 million shares they owned in 2015Q2.

The Fund Jana Partners Llc currently is holding shares equating to 13.96% of its total portfolio in ConAgra Foods Inc representing a total of 30.57 million shares. Another fund,Symons Capital Management Inc, is holding a total of 432,990 shares equating to 4.72% of their holdings. Additionally, Forester Capital Management Ltd has a 126,133 share stake in ConAgra Foods Inc which represents 4.71% of their total portfolio. The Fund, Sasco Capital Inc Ct, based out of Connecticut, has also built up a stake in the stock, which represents a total of 4.7% of their total portfolio. Finally 13D Management Llc, a fund which is based in the state of New York reported a total holdings of 387,205 shares.

ConAgra Foods, Inc. operates as a packaged food company. The company has a market cap of $17.18 billion. The Firm offers branded and private branded food to households, as well as commercial food, which serve various restaurants and foodservice operations. It currently has negative earnings. The Company’s 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.

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.”