Time to Buy ConAgra Foods Inc After Today’s Option Traders Bet?

 Time to Buy ConAgra Foods Inc After Today's Option Traders Bet?

In today’s session ConAgra Foods Inc (CAG) registered an unusually high (579) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious CAG increase. With 579 contracts traded and 1964 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: CAG161118C00048000 closed last at: $0.95 or 5.6% up. About 240,639 shares traded hands. ConAgra Foods Inc (NYSE:CAG) has risen 6.98% since March 11, 2016 and is uptrending. It has outperformed by 1.52% the S&P500.

ConAgra Foods Inc (NYSE:CAG) Ratings Coverage

Out of 10 analysts covering ConAgra Foods (NYSE:CAG), 5 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 50% are positive. $56 is the highest target while $43 is the lowest. The $49.14 average target is 3.39% above today’s ($47.53) stock price. ConAgra Foods has been the topic of 17 analyst reports since September 16, 2015 according to StockzIntelligence Inc. The stock has “Hold” rating given by Deutsche Bank on Friday, September 25. Deutsche Bank maintained the shares of CAG in a report on Friday, April 8 with “Hold” rating. As per Wednesday, December 16, the company rating was initiated by Jefferies. Deutsche Bank maintained it with “Hold” rating and $46 target price in Friday, September 23 report. The company was maintained on Wednesday, April 6 by JP Morgan. The company was initiated on Thursday, February 25 by Goldman Sachs. The stock has “Neutral” rating given by Citigroup on Friday, April 8. The firm has “Sector Perform” rating given on Friday, July 1 by RBC Capital Markets. The firm has “Hold” rating given on Thursday, September 24 by TheStreet. The stock of ConAgra Foods Inc (NYSE:CAG) earned “Buy” rating by Bank of America 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 improved, 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.
Tudor Investment Et Al holds 48,180 shares or 0.05% of its portfolio. Cubic Asset Ltd Limited Liability Company holds 24,573 shares or 0.4% of its portfolio. Foyston Gordon & Payne last reported 0.13% of its portfolio in the stock. Cantab Capital Prtnrs Llp has invested 0% of its portfolio in ConAgra Foods Inc (NYSE:CAG). The Massachusetts-based Numeric Invsts Ltd Liability Co has invested 0.36% in ConAgra Foods Inc (NYSE:CAG). Cipher L P has invested 0.53% of its portfolio in ConAgra Foods Inc (NYSE:CAG). Parametric Portfolio Assoc Llc has 0.07% invested in the company for 987,173 shares. Barnett & Co Inc has 200 shares for 0.01% of their US portfolio. Engineers Gate Manager Lp has 0.47% invested in the company for 135,994 shares. The Maryland-based Calvert Investment has invested 0.09% in ConAgra Foods Inc (NYSE:CAG). Stifel Fincl owns 121,759 shares or 0.03% of their US portfolio. Mcf Limited Liability Corporation has invested 0.06% of its portfolio in ConAgra Foods Inc (NYSE:CAG). Keybank Association Oh, a Ohio-based fund reported 48,492 shares. The Switzerland-based Gam Holding Ag has invested 0.04% in ConAgra Foods Inc (NYSE:CAG). Iberiabank last reported 0.13% of its portfolio in the stock.

Insider Transactions: Since July 5, 2016, the stock had 0 insider buys, and 8 insider sales for $14.15 million net activity. BUTLER STEPHEN G also sold $221,597 worth of ConAgra Foods Inc (NYSE:CAG) shares. The insider JURGENSEN WILLIAM G sold $221,972. 36,654 shares with value of $1.77 million were sold by Wise Robert G on Tuesday, July 5. Another trade for 41,470 shares valued at $1.99 million was sold by GOLDSTONE STEVEN F. Johri Rajive also sold $712,877 worth of ConAgra Foods Inc (NYSE:CAG) on Wednesday, July 6. Shares for $7.66 million were sold by Gehring John.

ConAgra Foods, Inc. operates as a packaged food company. The company has a market cap of $20.67 billion. The Firm sells branded, private branded and customized food products, as well as commercially branded foods and ingredients. It has a 41.96 P/E ratio. 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.

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.

More notable recent ConAgra Foods Inc (NYSE:CAG) news were published by: Forbes.com which released: “ConAgra Foods To Spin-Off Lamb Weston On November 9, 2016” on October 12, 2016, also Businesswire.com with their article: “ConAgra Foods Announces Details of Lamb Weston Investor Day Audio Webcast” published on October 07, 2016, Schaeffersresearch.com published: “Earnings Roundup: Accenture Plc, ConAgra Foods Inc, and PepsiCo, Inc.” on September 29, 2016. More interesting news about ConAgra Foods Inc (NYSE:CAG) were released by: Businesswire.com and their article: “ConAgra Foods Acquires Frontera, Red Fork and Salpica Brands” published on September 26, 2016 as well as Reuters.com‘s news article titled: “BRIEF-Conagra Foods says board of directors approves conditional $1.25 bln…” with publication date: October 11, 2016.

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