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

Conagra Brands, Inc. (NYSE:CAG) announced a quarterly dividend on Thursday, December 12th,RTT News reports. Shareholders of record on Monday, January 27th will be paid a dividend of 0.35 per share on Thursday, February 27th. This represents a $1.40 annualized dividend and a yield of 4.97%.

Conagra Brands has raised its dividend payment by an average of 14.2% per year over the last three years. Conagra Brands has a payout ratio of 52.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Conagra Brands to earn $2.68 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 52.2%.

Conagra Brands Trading Up 0.4 %

Shares of NYSE CAG opened at $28.20 on Friday. The company’s 50 day simple moving average is $28.40 and its 200 day simple moving average is $29.59. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33. Conagra Brands has a fifty-two week low of $26.21 and a fifty-two week high of $33.24. The firm has a market capitalization of $13.46 billion, a P/E ratio of 27.37, a P/E/G ratio of 2.86 and a beta of 0.31.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same period last year, the company earned $0.66 EPS. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. On average, analysts predict that Conagra Brands will post 2.58 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on CAG. Citigroup cut their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday. Wells Fargo & Company raised their price objective on Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. BNP Paribas raised Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a report on Thursday, October 3rd. Finally, Bank of America lowered their target price on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research note on Thursday, October 3rd. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Conagra Brands presently has an average rating of “Hold” and an average price target of $31.50.

About Conagra Brands

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.