The President & CEO of ConAgra Foods (CAG) is Buying Shares

Today, the President & CEO of ConAgra Foods (NYSE: CAG), Sean Connolly, bought shares of CAG for $500K.

This recent transaction increases Sean Connolly’s holding in the company by 6.97% to a total of $7.59 million. In addition to Sean Connolly, one other CAG executive reported Buy trades in the last month.

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Based on ConAgra Foods’ latest earnings report for the quarter ending August 31, the company posted quarterly revenue of $1.83 billion and quarterly net profit of $178 million. In comparison, last year the company earned revenue of $1.8 billion and had a net profit of $153 million. CAG’s market cap is $13.66B and the company has a P/E ratio of 16.85. Currently, ConAgra Foods has an average volume of 5.95M.

Starting in June 2018, CAG received 9 Buy ratings in a row. Based on 4 analyst ratings, the analyst consensus is Strong Buy with an average price target of $42.25, reflecting a 19.6% upside. Four different firms, including Stephens and UBS, currently also have a Buy rating on the stock.

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Conagra Brands, Inc. engages in the manufacture and sale of processed and packaged foods. It operates through the following segments: Grocery and Snacks; Refrigerated and Frozen; International; Foodservice; and Commercial Foods. The Grocery and Snacks segment includes branded, shelf stable food products sold in various retail channels in the United States.

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