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

Conagra Brands, Inc. (NYSE:CAGGet Rating) declared a quarterly dividend on Wednesday, December 21st, RTT News reports. Shareholders of record on Monday, January 30th will be given a dividend of 0.33 per share on Thursday, March 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend is Friday, January 27th.

Conagra Brands has raised its dividend payment by an average of 15.3% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Conagra Brands has a payout ratio of 46.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Conagra Brands to earn $2.75 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 48.0%.

Conagra Brands Trading Down 0.5 %

NYSE CAG opened at $37.26 on Wednesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.29 and a current ratio of 0.92. The company has a market capitalization of $17.76 billion, a price-to-earnings ratio of 26.43, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57. The company’s 50-day simple moving average is $38.29 and its two-hundred day simple moving average is $35.81. Conagra Brands has a one year low of $30.06 and a one year high of $41.30.

Conagra Brands (NYSE:CAGGet Rating) last issued its quarterly earnings data on Thursday, January 5th. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.15. Conagra Brands had a net margin of 5.66% and a return on equity of 14.38%. The firm had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.28 billion. During the same quarter in the previous year, the firm earned $0.64 EPS. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. Equities analysts forecast that Conagra Brands will post 2.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Morgan Stanley boosted their target price on shares of Conagra Brands from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, January 6th. JPMorgan Chase & Co. boosted their target price on shares of Conagra Brands from $38.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, January 6th. Stifel Nicolaus boosted their target price on shares of Conagra Brands from $35.00 to $44.00 in a research report on Friday, January 6th. Deutsche Bank Aktiengesellschaft downgraded shares of Conagra Brands from a “hold” rating to a “sell” rating and boosted their target price for the stock from $33.00 to $34.00 in a research report on Tuesday, December 6th. Finally, Royal Bank of Canada lifted their price objective on shares of Conagra Brands from $35.00 to $38.00 and gave the company a “sector perform” rating in a research note on Friday, January 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Conagra Brands presently has a consensus rating of “Hold” and a consensus target price of $40.45.

Insider Activity at Conagra Brands

In related news, SVP Robert G. Wise sold 50,000 shares of the business’s stock in a transaction on Friday, January 6th. The shares were sold at an average price of $40.90, for a total value of $2,045,000.00. Following the completion of the sale, the senior vice president now owns 22,717 shares of the company’s stock, valued at approximately $929,125.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.98% of the company’s stock.

Institutional Investors Weigh In On Conagra Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans increased its holdings in Conagra Brands by 1.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 29,348 shares of the company’s stock worth $958,000 after acquiring an additional 310 shares in the last quarter. Equitable Holdings Inc. grew its holdings in shares of Conagra Brands by 0.5% during the first quarter. Equitable Holdings Inc. now owns 81,085 shares of the company’s stock worth $2,722,000 after buying an additional 373 shares in the last quarter. Laurel Wealth Advisors Inc. grew its holdings in shares of Conagra Brands by 2.9% during the first quarter. Laurel Wealth Advisors Inc. now owns 13,726 shares of the company’s stock worth $461,000 after buying an additional 388 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of Conagra Brands by 4.6% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 14,604 shares of the company’s stock worth $500,000 after buying an additional 640 shares in the last quarter. Finally, Wetherby Asset Management Inc. grew its holdings in shares of Conagra Brands by 5.7% during the first quarter. Wetherby Asset Management Inc. now owns 12,236 shares of the company’s stock worth $411,000 after buying an additional 656 shares in the last quarter. Hedge funds and other institutional investors own 81.08% of the company’s stock.

About Conagra Brands

(Get Rating)

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company in North America. The company operates in four segments: Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels in the United States.

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Dividend History for Conagra Brands (NYSE:CAG)

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