Conagra Brands, Inc. (CAG) to Issue Quarterly Dividend of $0.35 on May 30th

Conagra Brands, Inc. (NYSE:CAG) announced a quarterly dividend on Thursday, April 11th, RTT News reports. Shareholders 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 yield of 4.51%. The ex-dividend date 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 raised 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. Equities research 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 Price Performance

Shares of CAG opened at $31.07 on Friday. Conagra Brands has a twelve month low of $25.16 and a twelve month high of $38.73. The stock’s 50 day moving average is $29.23 and its two-hundred day moving average is $28.67. The firm has a market capitalization of $14.85 billion, a PE ratio of 15.61, a P/E/G ratio of 3.14 and a beta of 0.42. The company has a current ratio of 0.95, a quick ratio of 0.33 and a debt-to-equity ratio of 0.81.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, April 4th. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. The company had revenue of $3.03 billion for 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%. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.76 EPS. Research analysts anticipate that Conagra Brands will post 2.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

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