Jana Partners Lowers stake in ConAgra Foods Inc (CAG)

ConAgra Foods Inc (CAG) : Jana Partners reduced its stake in ConAgra Foods Inc by 16.26% during the most recent quarter end. The investment management company now holds a total of 18,036,352 shares of ConAgra Foods Inc which is valued at $840,133,276 after selling 3,501,999 shares in ConAgra Foods Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.ConAgra Foods Inc makes up approximately 14.86% of Jana Partners’s portfolio.

Other Hedge Funds, Including , Millennium Management reduced its stake in CAG by selling 1,908,281 shares or 36.83% in the most recent quarter. The Hedge Fund company now holds 3,272,573 shares of CAG which is valued at $152,436,450. ConAgra Foods Inc makes up approx 0.38% of Millennium Management’s portfolio.Mariner Wealth Advisors boosted its stake in CAG in the latest quarter, The investment management firm added 2 additional shares and now holds a total of 38,155 shares of ConAgra Foods Inc which is valued at $1,777,260. ConAgra Foods Inc makes up approx 0.09% of Mariner Wealth Advisors’s portfolio. Acrospire Investment Management sold out all of its stake in CAG during the most recent quarter. The investment firm sold 200 shares of CAG which is valued $9,330.Tokio Marine Asset Management Co Ltd reduced its stake in CAG by selling 1,625 shares or 12.5% in the most recent quarter. The Hedge Fund company now holds 11,371 shares of CAG which is valued at $522,839. ConAgra Foods Inc makes up approx 0.05% of Tokio Marine Asset Management Co Ltd’s portfolio.

ConAgra Foods Inc closed down -0.59 points or -1.27% at $46.02 with 25,17,527 shares getting traded on Thursday. Post opening the session at $46.41, the shares hit an intraday low of $45.77 and an intraday high of $46.604 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, ConAgra Foods Inc reported $0.52 EPS for the quarter, based on the information available during the earnings call on Jun 30, 2016. Analyst had a consensus estimate of $0.52. The company had revenue of $2827.50 million for the quarter, compared to analysts expectations of $2894.77 million. The company’s revenue was down -9.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.59 EPS.

Many Wall Street Analysts have commented on ConAgra Foods Inc. Company shares were Reiterated by RBC Capital Mkts on Jul 1, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 50 from a previous price target of $48 .

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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