US Equity Market Update as of September 22
Price movement for ConAgra Foods
ConAgra Foods (CAG) has a market cap of $18.23 billion. ConAgra’s YTD (year-to-date) price movement is steady and going up. After its 1Q16 earnings report, CAG fell 7.08% to close at $39.40 per share.
The price movement on weekly, monthly, and year-to-date bases is -5.88%, -8.35%, and 10.72%, respectively. It’s trading at -7.25% on a trailing five-day basis.
Technically, ConAgra Foods has broken the support of 20-day and 50-day moving averages. In July and August 2015, it made the trading pattern of a double top. Currently, it’s trading at 5.36% below the 20-day moving average, 8.87% below the 50-day moving average, and 2.33% above the 200-day moving average.
The Guggenheim S&P 500 Equal Weight Consumer Staples ETF (RHS) invests 2.95% of its holdings in ConAgra Foods. The ETF tracks an equal-weighted index of large-cap US consumer staples stocks drawn from the S&P 500. The YTD for RHS is 4.45%.
Following are ConAgra Foods’ competitors (CAG) and their market caps:
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J.M. Smucker (SJM) – $13.55 billion
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Pinnacle Foods (PF) – $5.22 billion
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PepsiCo (PEP) – $135.69 billion
Performance of ConAgra Foods in 1Q16
ConAgra Foods reported net revenue of $2,793.8 million in 1Q16. The revenues for consumer foods and commercial foods are $1,697.2 million and $1,096.6 million, respectively. Net income is a negative number of -$1,214.4 million.
Cash and cash equivalents have fallen 30.6%, and inventories have gone up by 6.5%. The current ratio for 1Q16 is 0.96.
About ConAgra Foods
ConAgra Foods (CAG) is one of the largest packaged food companies with branded and private branded foods found in 99% of American households. It also has a strong commercial foods business serving restaurants and food service operations globally. ConAgra Foods supplies frozen potato and sweet potato products as well as other vegetable, spice, bakery and grain products to commercial and food service customers.
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