By: Forbes Real Time
June 28, 2013 at 12:01 PM EDT
Miss ConAgra Foods $29.75 Secondary But Think It's A Buy At $27?
Looking back to 171 days ago, ConAgra Foods, Inc. (NYSE: CAG) priced a 8,067,227 share secondary stock offering at $29.75 per share. Buyers in that offering made a considerable investment into the company, expecting that their investment would go up over the course of time and based on early trading on Friday, the stock is now 16.9% higher than the offering price. It should be noted that investors at the secondary have collected $0.50/share in dividends since the time of their purchase, so they are currently up 18.6% on their purchase from a total return basis.
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