Conagra Brands, Inc. (CAG) To Go Ex-Dividend on January 27th

Conagra Brands, Inc. (NYSE:CAG) announced a quarterly dividend on Thursday, December 12th,RTT News reports. Stockholders of record on Monday, January 27th will be given a dividend of 0.35 per share on Thursday, February 27th. This represents a $1.40 annualized dividend and a dividend yield of 5.44%. The ex-dividend date of this dividend is Monday, January 27th.

Conagra Brands has increased its dividend by an average of 6.0% annually over the last three years. Conagra Brands has a payout ratio of 52.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Conagra Brands to earn $2.56 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 54.7%.

Conagra Brands Stock Performance

Shares of NYSE:CAG opened at $25.75 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The business’s fifty day moving average price is $27.06 and its two-hundred day moving average price is $29.15. Conagra Brands has a fifty-two week low of $25.06 and a fifty-two week high of $33.24. The stock has a market capitalization of $12.29 billion, a price-to-earnings ratio of 25.24, a price-to-earnings-growth ratio of 1.72 and a beta of 0.29.

Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the prior year, the firm earned $0.71 EPS. The firm’s quarterly revenue was down .4% compared to the same quarter last year. As a group, analysts predict that Conagra Brands will post 2.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CAG has been the topic of several recent analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a report on Friday, December 20th. Barclays reduced their price objective on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. JPMorgan Chase & Co. lowered their target price on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Wells Fargo & Company cut their price target on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Finally, BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Seven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.33.

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.