Stock Worth Watching: ConAgra Foods Inc Surges to Record High, Is Now Top Performer

Stock Worth Watching: ConAgra Foods Inc Surges to Record High, Is Now Top Performer

The stock of ConAgra Foods Inc (NYSE:CAG) reached all time high today, Nov, 8 and still has $78.15 target or 61.00% above today’s $48.54 share price. This indicates more upside for the $21.93 billion company. This technical setup was reported by Barchart.com. If the $78.15 PT is reached, the company will be worth $13.38 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 659,437 shares traded hands. ConAgra Foods Inc (NYSE:CAG) has risen 3.26% since April 5, 2016 and is uptrending. It has outperformed by 1.30% 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 18 analyst reports since September 16, 2015 according to StockzIntelligence Inc. RBC Capital Markets upgraded the stock to “Outperform” rating in Friday, October 14 report. The stock of ConAgra Foods Inc (NYSE:CAG) earned “Overweight” rating by JP Morgan on Wednesday, September 23. The rating was downgraded by TheStreet to “Hold” on Thursday, September 24. The rating was maintained by Stifel Nicolaus with “Hold” on Wednesday, October 19. The rating was maintained by Citigroup with “Neutral” on Friday, April 8. Deutsche Bank maintained it with “Hold” rating and $48 target price in Friday, April 8 report. As per Friday, September 25, the company rating was maintained by Deutsche Bank. The stock has “Buy” rating given by Bank of America on Friday, February 12. On Wednesday, April 6 the stock rating was maintained by JP Morgan with “Overweight”. The stock of ConAgra Foods Inc (NYSE:CAG) has “Neutral” rating given on Thursday, February 25 by Goldman Sachs.

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.
The New Mexico-based Hanseatic Mngmt Serv has invested 0.01% in ConAgra Foods Inc (NYSE:CAG). Boys Arnold Inc reported 50,897 shares or 0.42% of all its holdings. Stonebridge Capital Lc has invested 0.1% of its portfolio in ConAgra Foods Inc (NYSE:CAG). New Mexico Educational Retirement Board accumulated 50,847 shares or 0.11% of the stock. Robecosam Ag has 186,982 shares for 0.82% of their US portfolio. Mitsubishi Ufj Tru & Bk Corporation has 1.09M shares for 0.11% of their US portfolio. Texas Permanent School Fund accumulated 0.09% or 141,591 shares. Roosevelt Investment Gp has 2.54% invested in the company for 684,683 shares. Cowen Group accumulated 0.1% or 30,009 shares. Martingale Asset L P accumulated 394,853 shares or 0.31% of the stock. Stevens Cap Limited Partnership last reported 196,642 shares in the company. Moreover, Brown Brothers Harriman And has 0% invested in ConAgra Foods Inc (NYSE:CAG) for 200 shares. Jacobs Communication Ca accumulated 7,600 shares or 0.09% of the stock. Da Davidson And has 11,203 shares for 0.02% of their US portfolio. Blackrock Fund Advsr owns 7.73 million shares or 0.08% of their US portfolio.

Insider Transactions: Since July 5, 2016, the stock had 0 insider buys, and 8 selling transactions for $14.15 million net activity. 4,607 shares were sold by BUTLER STEPHEN G, worth $221,597 on Thursday, July 7. $7.66M worth of ConAgra Foods Inc (NYSE:CAG) was sold by Gehring John. $752,366 worth of ConAgra Foods Inc (NYSE:CAG) was sold by Wise Robert G on Friday, July 15. GOLDSTONE STEVEN F had sold 41,470 shares worth $1.99M on Thursday, July 7. $712,877 worth of shares were sold by Johri Rajive on Wednesday, July 6. Another trade for 4,636 shares valued at $221,972 was made by JURGENSEN WILLIAM G on Friday, July 8.

Another recent and important ConAgra Foods Inc (NYSE:CAG) news was published by Forbes.com which published an article titled: “ConAgra Foods To Spin-Off Lamb Weston On November 9, 2016” on October 12, 2016.

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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