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

Conagra Brands, Inc. (NYSE:CAG) declared a quarterly dividend on Thursday, July 11th, RTT News reports. Shareholders of record on Thursday, August 1st will be paid a dividend of 0.35 per share on Thursday, August 29th. This represents a $1.40 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date of this dividend is Thursday, August 1st.

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 51.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Conagra Brands to earn $2.73 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 51.3%.

Conagra Brands Stock Performance

CAG opened at $30.16 on Tuesday. The firm has a market capitalization of $14.42 billion, a PE ratio of 41.32, a PEG ratio of 2.62 and a beta of 0.32. The company has a current ratio of 0.97, a quick ratio of 0.33 and a debt-to-equity ratio of 0.88. Conagra Brands has a twelve month low of $25.16 and a twelve month high of $33.23. The firm’s 50-day moving average price is $29.20 and its 200 day moving average price is $29.28.

Conagra Brands (NYSE:CAG) last issued its earnings results on Thursday, July 11th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. Conagra Brands had a net margin of 2.88% and a return on equity of 14.31%. The company had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same period in the previous year, the firm earned $0.62 earnings per share. Conagra Brands’s quarterly revenue was down 2.3% compared to the same quarter last year. As a group, sell-side analysts expect that Conagra Brands will post 2.61 EPS for the current fiscal year.

Insider Buying and Selling at Conagra Brands

In other Conagra Brands news, EVP Charisse Brock sold 15,444 shares of the 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 completion of the sale, the executive vice president now directly owns 113,254 shares of the company’s stock, valued at approximately $3,439,523.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.88% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on CAG shares. Stifel Nicolaus lowered their price objective on Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Friday, July 12th. Royal Bank of Canada lowered their price target on Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Citigroup cut their price objective on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a research report on Friday, June 28th. Barclays decreased their target price on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Finally, Evercore ISI dropped their price target on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.18.

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.