Could ConAgra Foods Inc Lose Strenght? Option Traders Don’t Think So

 Could ConAgra Foods Inc Lose Strenght? Option Traders Don't Think So

In today’s session ConAgra Foods Inc (CAG) registered an unusually high (787) 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 787 contracts traded and 26774 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: CAG161118C00048000 closed last at: $1.4 or 40% up. About 990,912 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 43.10% above today’s ($35.29) stock price. ConAgra Foods has been the topic of 19 analyst reports since September 16, 2015 according to StockzIntelligence Inc. JP Morgan upgraded ConAgra Foods Inc (NYSE:CAG) on Wednesday, September 23 to “Overweight” rating. The rating was initiated by Jefferies with “Buy” on Wednesday, December 16. RBC Capital Markets maintained the stock with “Sector Perform” rating in Friday, July 1 report. As per Wednesday, July 27, the company rating was maintained by Jefferies. The firm has “Overweight” rating given on Wednesday, April 6 by JP Morgan. The firm has “Neutral” rating given on Friday, April 8 by Citigroup. The firm has “Outperform” rating given on Friday, October 14 by RBC Capital Markets. The stock of ConAgra Foods Inc (NYSE:CAG) has “Hold” rating given on Friday, September 23 by Deutsche Bank. Stifel Nicolaus maintained ConAgra Foods Inc (NYSE:CAG) rating on Wednesday, October 19. Stifel Nicolaus has “Hold” rating and $52 price target. As per Friday, September 25, the company rating was maintained by Deutsche Bank.

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.
Cubic Asset Mgmt Ltd Liability Corp last reported 24,573 shares in the company. Advisory Ser Networks Ltd has 170 shares for 0% of their US portfolio. Aperio Grp Inc Limited owns 170,083 shares or 0.06% of their US portfolio. The Massachusetts-based Liberty Mutual Gru Asset Mgmt has invested 0.08% in ConAgra Foods Inc (NYSE:CAG). Perkins Coie has invested 0.03% of its portfolio in ConAgra Foods Inc (NYSE:CAG). Dekabank Deutsche Girozentrale owns 106,168 shares or 0.06% of their US portfolio. Moreover, Fred Alger Mgmt Incorporated has 0% invested in ConAgra Foods Inc (NYSE:CAG) for 13,800 shares. Brown Brothers Harriman And Com, a New York-based fund reported 200 shares. Advantus, a Minnesota-based fund reported 42,775 shares. Moreover, Eaton Vance Mgmt has 0.04% invested in ConAgra Foods Inc (NYSE:CAG) for 306,150 shares. Old Mutual Customised Solutions (Proprietary) has 3,800 shares for 0.05% of their US portfolio. State Street has 0.11% invested in the company for 21.69 million shares. Argyle Capital holds 1.17% or 57,570 shares in its portfolio. Commonwealth Financial Ltd Liability Corp reported 25 shares or 0% of all its holdings. Sageworth, a Pennsylvania-based fund reported 43,388 shares.

Insider Transactions: Since July 5, 2016, the stock had 0 buys, and 8 insider sales for $14.15 million net activity. $1.77M worth of ConAgra Foods Inc (NYSE:CAG) was sold by Wise Robert G on Tuesday, July 5. GOLDSTONE STEVEN F had sold 41,470 shares worth $1.99M on Thursday, July 7. Gehring John sold $7.66M worth of ConAgra Foods Inc (NYSE:CAG) on Tuesday, July 5. Shares for $712,877 were sold by Johri Rajive on Wednesday, July 6. JURGENSEN WILLIAM G sold $221,972 worth of stock. BUTLER STEPHEN G sold $221,597 worth of ConAgra Foods Inc (NYSE:CAG) on Thursday, July 7.

ConAgra Foods, Inc. operates as a packaged food company. The company has a market cap of $15.18 billion. The Firm sells branded, private branded and customized food products, as well as commercially branded foods and ingredients. It has a 31.16 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 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.

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