(CAG – Analyst Report) reported mixed results for first-quarter fiscal 2016 (ended August 30, 2015) on September 22.
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Looking ahead to the second quarter, ConAgra forecast adjusted earnings per share to be approximately in line with the year-ago period.
Sean Connolly the CEO, who took over the helm, last April, said the private label business during the most recent quarter had been reclassified as a discontinued operation given the plans of the company to divest it.
Shares of ConAgra were inactive in premarket trading Tuesday, having closed at $42.40 on Monday, up 0.4% for the day in a 52-week range $32.41 to $45.49.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. The Companys integrated operations consist of breeding stock, contract growers, feed production, processing, further-processing, marketing and transportation of chicken and related allied products, including animal and pet food ingredients. Zacks cut shares of ConAgra Foods from a “hold” rating to a “sell” rating in a report on Tuesday, June 2nd. Institutional Investors own 91.3% of Company shares. Shareholders of record on Thursday, July 30th were issued a $0.25 dividend.
On a segmental basis, Consumer Foods revenues decreased by a marginal 0.3% year over year to $1,697.2 million. The ex-dividend date was Tuesday, July 28th. Credit Suisse lifted their target price on ConAgra Foods from $34.00 to $42.00 and gave the company a neutral rating in a research note on Friday, June 19th.
ConAgra Foods (NYSE:CAG) has been given a consensus rating of “Hold” by the ten research firms that are now covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. ConAgra Foods now has an average rating of Hold and a consensus price target of $44.88.
ConAgra Foods, Inc. (NYSE:CAG) is the packaged food company. The Company supplies commercial foods business serving foodservice operations and restaurants, as well as branded and private branded food in families. The CongAra Foods are sold in drug stores, and grocery, convenience, mass merchandise, club.
The company traces its roots to 1861 and the incorporation of Hunt Brothers Fruit Packing Co.in Santa Rosa, Calif. ConAgra is based in Omaha, Neb.
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In fiscal 2016, the Consumer Foods segment is focused on continuing to strengthen its core business by emphasizing its highest-potential brands, focusing on the most promising sales channels, expanding margins, and getting more brands ready for stronger marketing support in the future.
