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

Conagra Brands, Inc. (NYSE:CAG) announced a quarterly dividend on Tuesday, October 1st, Zacks reports. Investors of record on Thursday, October 31st will be given a dividend of 0.35 per share on Wednesday, November 27th. This represents a $1.40 annualized dividend and a dividend yield of 4.28%. The ex-dividend date is Thursday, October 31st.

Conagra Brands has raised its dividend payment by an average of 14.2% per year over the last three years. Conagra Brands has a dividend payout ratio of 51.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Conagra Brands to earn $2.70 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 51.9%.

Conagra Brands Trading Up 0.6 %

Shares of CAG opened at $32.72 on Wednesday. The stock’s 50-day moving average price is $31.28 and its 200 day moving average price is $30.27. The company has a quick ratio of 0.33, a current ratio of 0.97 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $15.64 billion, a price-to-earnings ratio of 44.82, a P/E/G ratio of 2.95 and a beta of 0.32. Conagra Brands has a 12-month low of $25.16 and a 12-month high of $33.24.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Thursday, July 11th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The business had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.93 billion. Conagra Brands had a return on equity of 14.31% and a net margin of 2.88%. Conagra Brands’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.62 earnings per share. As a group, research analysts predict that Conagra Brands will post 2.61 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CAG shares. Wells Fargo & Company reduced their price objective on shares of Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Stifel Nicolaus decreased their price objective on Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Friday, July 12th. Evercore ISI lowered their price objective on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Royal Bank of Canada cut their target price on Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Finally, The Goldman Sachs Group assumed coverage on Conagra Brands in a research report on Monday, August 12th. They issued a “buy” rating and a $36.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $31.10.

Insider Buying and Selling at Conagra Brands

In other Conagra Brands news, COO Thomas M. Mcgough sold 40,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total value of $1,211,600.00. Following the transaction, the chief operating officer now owns 161,443 shares of the company’s stock, valued at $4,890,108.47. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.88% of the company’s stock.

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.