Bernstein Downgrades ConAgra Foods Inc to Underperform

Brokerage firm Bernstein Downgrades its rating on ConAgra Foods Inc(CAG). The shares have been rated Underperform. Previously, the analysts had a Market Perform rating on the shares. The rating by the stock financial advisor at Bernstein was issued on Mar 21, 2017 in a research report to their Investors and Clients.

In a different note, Deutsche Bank said it Initiates Coverage On ConAgra Foods Inc, according to a research note issued on Feb 15, 2017. The shares have been rated ‘Buy’ by the firm.

ConAgra Foods Inc (CAG) made into the market gainers list on Fridays trading session with the shares advancing 0.30% or 0.12 points. Due to strong positive momentum, the stock ended at $40.47, which is also near the day’s high of $40.845. The stock began the session at $40.49 and the volume stood at 35,03,170 shares. The 52-week high of the shares is $41.68 and the 52 week low is $33.075247. The company has a current market capitalization of $17,613 M and it has 43,52,12,410 shares in outstanding.

ConAgra Foods Inc(CAG) last announced its earnings results on Dec 22, 2016 for Fiscal Year 2017 and Q2.Company reported revenue of $2.088B. Analysts had an estimated revenue of $2.110B. Earnings per share were $0.49. Analysts had estimated an EPS of $0.45.

Several Insider Transactions has been reported to the SEC. On Jan 9, 2017, Joie A Gregor (director) sold 3,300 shares at $39.01 per share price.Also, On Jul 19, 2016, Robert G Wise (SVP, Corporate Controller) sold 15,708 shares at $47.90 per share price.On Jul 8, 2016, Rajive Johri (director) sold 15,000 shares at $47.53 per share price, according to the Form-4 filing with the securities and exchange commission.

ConAgra Foods Inc. operates as a packaged food company. The Company offers branded and private branded food to households as well as commercial foods which serves various restaurants and foodservice operations. The Company operates in three segments: Consumer Foods Commercial Foods and Private Brands. Its brands include Banquet Chef Boyardee Egg Beaters Healthy Choice Hebrew National Hunt’s Marie Callender’s Orville Redenbacher’s PAM Peter Pan Reddi-wip Slim Jim and Snack Pack among others. The Company sells its products under private brand labels in grocery convenience mass merchandise club and drug stores. Additionally ConAgra Foods supplies frozen potato and sweet potato products as well as other vegetable spice bakery and grain products to restaurants commercial and foodservice customers. It has international manufacturing facilities in Argentina Mexico and interests in ownership of international manufacturing facilities in India and Mexico.

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