Conagra Brands Inc Can’t Burn Your Long Portfolio. Option Traders are Bullish

 Conagra Brands Inc Can't Burn Your Long Portfolio. Option Traders are Bullish

In today’s session Conagra Brands Inc (CAG) registered an unusually high (2,967) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the January, 2017 call, expecting serious CAG increase. With 2,967 contracts traded and 6664 open interest for the Jan, 17 contract, it seems this is a quite bullish bet. The option with symbol: CAG170120C00038000 closed last at: $1.3 or 4% up. About 287,374 shares traded hands. Conagra Brands Inc (NYSE:CAG) has risen 5.50% since April 28, 2016 and is uptrending. It has underperformed by 0.43% the S&P500.

Analysts await Conagra Brands Inc (NYSE:CAG) to report earnings on December, 27. They expect $0.44 EPS, down 24.14% or $0.14 from last year’s $0.58 per share. CAG’s profit will be $187.44M for 20.50 P/E if the $0.44 EPS becomes a reality. After $0.61 actual EPS reported by Conagra Brands Inc for the previous quarter, Wall Street now forecasts -27.87% negative EPS growth.

Conagra Brands Inc (NYSE:CAG) Ratings Coverage

Out of 12 analysts covering ConAgra Foods (NYSE:CAG), 5 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 42% are positive. $56 is the highest target while $36 is the lowest. The $48.89 average target is 35.50% above today’s ($36.08) stock price. ConAgra Foods has been the topic of 20 analyst reports since September 16, 2015 according to StockzIntelligence Inc. JP Morgan maintained Conagra Brands Inc (NYSE:CAG) on Wednesday, April 6 with “Overweight” rating. The stock has “Sector Perform” rating given by RBC Capital Markets on Friday, July 1. The company was initiated on Wednesday, December 16 by Jefferies. The rating was downgraded by TheStreet to “Hold” on Thursday, September 24. As per Wednesday, November 9, the company rating was reinitiated by JP Morgan. The firm earned “Hold” rating on Friday, September 25 by Deutsche Bank. The firm earned “Hold” rating on Friday, April 8 by Deutsche Bank. On Monday, November 14 the stock rating was initiated by UBS with “Neutral”. The firm has “Hold” rating by Stifel Nicolaus given on Wednesday, October 19. JP Morgan upgraded the stock to “Overweight” rating in Wednesday, September 23 report.

According to Zacks Investment Research, “Conagra Brands, Inc. manufactures and markets packaged foods for retail consumers, restaurants and institutions. Its operating segment consists of Consumer Foods and Commercial Foods. The Company offers meals, entrees, condiments, sides, snacks, specialty potatoes, milled grain ingredients, dehydrated vegetables and seasonings, and blends and flavors. Its 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, Rosarita, Fleischmann’s and Hunt’s. Conagra Brands Inc., formerly known as ConAgra Foods Inc., is headquartered in Chicago, Illinois.”

Insitutional Activity: The institutional sentiment decreased to 0.97 in Q2 2016. Its down 0.14, from 1.11 in 2016Q1. The ratio is negative, as 43 funds sold all Conagra Brands 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.
Scout Investments last reported 0.88% of its portfolio in the stock. State Board Of Administration Of Florida Retirement System holds 657,347 shares or 0.1% of its portfolio. Sumitomo Mitsui Tru holds 0.11% of its portfolio in Conagra Brands Inc (NYSE:CAG) for 1.39 million shares. Tocqueville Asset Mngmt L P accumulated 270,908 shares or 0.17% of the stock. The Texas-based Employees Retirement Of Texas has invested 0.02% in Conagra Brands Inc (NYSE:CAG). Bnp Paribas Arbitrage Sa, a New York-based fund reported 219,211 shares. Fayez Sarofim Com accumulated 0% or 9,766 shares. Kcg Holdings has 0.08% invested in the company for 80,730 shares. Numeric Investors Limited Liability Corporation reported 834,800 shares or 0.36% of all its holdings. Cohen Klingenstein Ltd Liability owns 12,400 shares or 0.11% of their US portfolio. Bnp Paribas Inv Partners Sa has 0.1% invested in the company for 237,967 shares. Oakbrook Invs Limited Liability reported 54,103 shares or 0.14% of all its holdings. Meeder Asset Incorporated owns 7,341 shares or 0.03% of their US portfolio. Mcrae Cap holds 8,042 shares or 0.18% of its portfolio. Glenmede Trust Na has 80,804 shares for 0.02% of their US portfolio.

Insider Transactions: Since July 5, 2016, the stock had 0 buys, and 8 sales for $14.15 million net activity. On Thursday, July 7 GOLDSTONE STEVEN F sold $1.99M worth of the stock or 41,470 shares. Another trade for 15,708 shares valued at $752,366 was made by Wise Robert G on Friday, July 15. On Friday, July 8 the insider JURGENSEN WILLIAM G sold $221,972. 4,607 Conagra Brands Inc (NYSE:CAG) shares with value of $221,597 were sold by BUTLER STEPHEN G. $712,877 worth of Conagra Brands Inc (NYSE:CAG) was sold by Johri Rajive. 159,057 shares were sold by Gehring John, worth $7.66M.

Conagra Brands, Inc., formerly ConAgra Foods, Inc., operates as a packaged food company. The company has a market cap of $15.36 billion. The Firm operates through two divisions: Consumer Foods and Commercial Foods. It has a 31.85 P/E ratio. The Firm sells branded and customized food products, as well as commercially branded foods.

CAG Company Profile

Conagra Brands, Inc., formerly 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 and customized food products, as well as commercially branded foods. It also supplies vegetable, spice and grain products to a range of restaurants, foodservice operators and commercial customers. Conagra Foodservice offers products to restaurants, retailers, commercial clients and other foodservice suppliers. The Firm also operates in the countries outside the United States, such as Canada and Mexico. 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, Rosarita, Fleischmann’s and Hunt’s. The Firm sells its products in grocery, convenience, mass merchandise and club stores.

More recent Conagra Brands Inc (NYSE:CAG) news were published by: Businesswire.com which released: “ConAgra Foods Completes Spin-off of Lamb Weston Business and Becomes Conagra …” on November 10, 2016. Also Prnewswire.com published the news titled: “Marie Callender’s Partners With Habitat for Humanity on Comforts From Home Project” on November 11, 2016. Businesswire.com‘s news article titled: “Conagra Brands Announces Appointment of Craig P. Omtvedt to Its Board of Directors” with publication date: November 11, 2016 was also an interesting one.

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