Conagra Brands, Inc. (NYSE:CAG) to Issue $0.35 Quarterly Dividend

Conagra Brands, Inc. (NYSE:CAG) declared a quarterly dividend on Thursday, April 11th, RTT News reports. Stockholders of record on Tuesday, April 30th will be paid a dividend of 0.35 per share on Thursday, May 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date of this dividend is Monday, April 29th.

Conagra Brands has increased its dividend payment by an average of 14.2% annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Conagra Brands has a dividend payout ratio of 49.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Conagra Brands to earn $2.69 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 52.0%.

Conagra Brands Stock Down 0.6 %

Shares of CAG stock opened at $31.08 on Friday. Conagra Brands has a 12 month low of $25.16 and a 12 month high of $38.73. The firm has a market cap of $14.86 billion, a PE ratio of 15.62, a price-to-earnings-growth ratio of 3.12 and a beta of 0.42. The stock has a 50 day moving average of $29.23 and a 200-day moving average of $28.68. The company has a quick ratio of 0.33, a current ratio of 0.95 and a debt-to-equity ratio of 0.81.

Conagra Brands (NYSE:CAG) last issued its earnings results on Thursday, April 4th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. The business had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.01 billion. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. Conagra Brands’s revenue was down 1.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.76 earnings per share. On average, equities analysts predict that Conagra Brands will post 2.62 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on CAG shares. Wells Fargo & Company upped their target price on Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, April 5th. Barclays upped their target price on Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Royal Bank of Canada cut their target price on Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 3rd. Stifel Nicolaus increased their price objective on Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research note on Friday, April 5th. Finally, Citigroup increased their price objective on Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $33.14.

Conagra Brands Company Profile

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.