Conagra Brands, Inc. (CAG) to Issue Quarterly Dividend of $0.35 on August 29th

Conagra Brands, Inc. (NYSE:CAG) announced a quarterly dividend on Thursday, July 11th, RTT News reports. Investors of record on Thursday, August 1st will be given a dividend of 0.35 per share on Thursday, August 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date is Thursday, August 1st.

Conagra Brands has raised its dividend payment by an average of 14.2% annually over the last three years. Conagra Brands has a payout ratio of 49.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Conagra Brands to earn $2.84 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 49.3%.

Conagra Brands Trading Down 0.1 %

Conagra Brands stock opened at $28.36 on Friday. The firm has a market cap of $13.56 billion, a price-to-earnings ratio of 38.84, a price-to-earnings-growth ratio of 2.82 and a beta of 0.32. Conagra Brands has a 1 year low of $25.16 and a 1 year high of $33.60. The firm’s 50 day moving average price is $29.46 and its two-hundred day moving average price is $29.21. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.33 and a current ratio of 0.95.

Conagra Brands (NYSE:CAG) last issued its earnings results on Thursday, July 11th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. Conagra Brands had a return on equity of 14.09% and a net margin of 2.88%. The business had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.93 billion. During the same period in the previous year, the firm posted $0.62 EPS. The company’s quarterly revenue was down 2.3% on a year-over-year basis. On average, research analysts predict that Conagra Brands will post 2.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Wells Fargo & Company dropped their price target on Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Stifel Nicolaus dropped their target price on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Friday. Barclays decreased their price target on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Friday. Royal Bank of Canada lowered their price target on Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating on the stock in a research report on Friday. Finally, Evercore ISI cut their price objective on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a research report on Friday. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Conagra Brands presently has an average rating of “Hold” and a consensus price target of $32.00.

Insider Buying and Selling at Conagra Brands

In other news, EVP Charisse Brock sold 15,444 shares of Conagra Brands stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $30.37, for a total transaction of $469,034.28. Following the sale, the executive vice president now owns 113,254 shares of the company’s stock, valued at approximately $3,439,523.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.88% of the company’s stock.

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.