On April 5, 2023 at 09:56:41 ET an unusually large $58.45K block of Put contracts in ConAgra Foods (CAG) was bought, with a strike price of $38.00 / share, expiring in 9 days (on April 14, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.15 sigmas above the mean, placing it in the 90.41 percentile of all recent large trades made in CAG options.

This trade was first picked up on Fintel’s real time Unusual Option Trades tool, where unusual option trades are highlighted.

Analyst Price Forecast Suggests 11.48% Upside

As of March 30, 2023, the average one-year price target for ConAgra Foods is $41.89. The forecasts range from a low of $35.35 to a high of $50.40. The average price target represents an increase of 11.48% from its latest reported closing price of $37.58.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for ConAgra Foods is $12,307MM, an increase of 2.21%. The projected annual non-GAAP EPS is $2.48.

What is the Fund Sentiment?

There are 1595 funds or institutions reporting positions in ConAgra Foods. This is an increase of 91 owner(s) or 6.05% in the last quarter. Average portfolio weight of all funds dedicated to CAG is 0.24%, a decrease of 6.09%. Total shares owned by institutions decreased in the last three months by 0.88% to 441,796K shares. The put/call ratio of CAG is 0.47, indicating a bullish outlook.

What are Large Shareholders Doing?

Price T Rowe Associates holds 27,153K shares representing 5.70% ownership of the company. In it’s prior filing, the firm reported owning 27,371K shares, representing a decrease of 0.80%. The firm increased its portfolio allocation in CAG by 15.53% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 14,552K shares representing 3.05% ownership of the company. In it’s prior filing, the firm reported owning 14,300K shares, representing an increase of 1.73%. The firm increased its portfolio allocation in CAG by 11.46% over the last quarter.

Macquarie Group holds 13,813K shares representing 2.90% ownership of the company. In it’s prior filing, the firm reported owning 16,912K shares, representing a decrease of 22.43%. The firm decreased its portfolio allocation in CAG by 6.68% over the last quarter.

VIMSX – Vanguard Mid-Cap Index Fund Investor Shares holds 11,164K shares representing 2.34% ownership of the company. In it’s prior filing, the firm reported owning 11,069K shares, representing an increase of 0.85%. The firm increased its portfolio allocation in CAG by 9.87% over the last quarter.

VFINX – Vanguard 500 Index Fund Investor Shares holds 11,079K shares representing 2.32% ownership of the company. In it’s prior filing, the firm reported owning 10,879K shares, representing an increase of 1.81%. The firm increased its portfolio allocation in CAG by 11.27% over the last quarter.

Conagra Brands Background Information
(This description is provided by the company.)

Conagra Brands, Inc., headquartered in Chicago, is one of North America’sleading branded food companies. Guided by an entrepreneurial spirit, Conagra Brands combines a rich heritage of making great food with a sharpened focus on innovation. The company’s portfolio is evolving to satisfy people’s changing food preferences. Conagra’s iconic brands, such as Birds Eye®, Marie Callender’s®, Banquet®, Healthy Choice®, Slim Jim®, Reddi-wip®, and Vlasic®, as well as emerging brands, including Angie’s® BOOMCHICKAPOP®, Duke’s®, Earth Balance®, Gardein®, and Frontera®, offer choices for every occasion.

This article originally appeared on Fintel

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