Conagra Brands, Inc. (NYSE:CAG – Get Free Report) 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.
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.
View Our Latest Research Report on Conagra Brands
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.
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