Conagra Brands (CAG) to Distribute Quarterly Dividend of $0.17 on September 2nd

Conagra Brands (NYSE:CAG) announced a quarterly dividend on Wednesday, July 15th. Shareholders of record on Thursday, July 30th will be given a dividend of 0.175 per share on Wednesday, September 2nd. This represents a c) dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Thursday, July 30th.

Conagra Brands has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 5 years. Conagra Brands has a dividend payout ratio of 28.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Conagra Brands to earn $1.62 per share next year, which means the company should continue to be able to cover its $0.70 annual dividend with an expected future payout ratio of 43.2%.

Conagra Brands Stock Up 3.4%

Shares of NYSE CAG opened at $15.27 on Tuesday. The business has a 50-day moving average of $13.72 and a two-hundred day moving average of $15.59. The company has a market capitalization of $7.31 billion, a price-to-earnings ratio of -3.82 and a beta of -0.02. Conagra Brands has a 1 year low of $12.53 and a 1 year high of $20.32. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.90 and a quick ratio of 0.31.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Wednesday, July 15th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. Conagra Brands had a positive return on equity of 10.44% and a negative net margin of 16.99%.The business had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the prior year, the business posted $0.56 EPS. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. On average, analysts forecast that Conagra Brands will post 1.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CAG shares. BNP Paribas Exane lowered their price target on Conagra Brands from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, May 21st. The Goldman Sachs Group cut their price objective on shares of Conagra Brands from $17.00 to $15.00 and set a “sell” rating on the stock in a report on Thursday, April 2nd. Morgan Stanley reduced their price objective on shares of Conagra Brands from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Friday, June 5th. UBS Group upped their target price on shares of Conagra Brands from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Conagra Brands from $14.00 to $12.00 and set a “hold” rating on the stock in a research report on Thursday, June 18th. One research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat, Conagra Brands currently has a consensus rating of “Reduce” and a consensus price target of $14.07.

About Conagra Brands

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.