Conagra Brands, Inc. (CAG) to Issue Quarterly Dividend of $0.35 on February 27th

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 given 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 increased its dividend payment by an average of 14.2% annually over the last three years. Conagra Brands has a dividend payout ratio of 52.0% indicating that its dividend is sufficiently covered by earnings. Research 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 Stock Up 0.4 %

CAG stock opened at $28.20 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. The firm has a market cap of $13.46 billion, a PE ratio of 27.37, a PEG ratio of 2.86 and a beta of 0.31. Conagra Brands has a 1 year low of $26.21 and a 1 year high of $33.24. The company has a fifty day simple moving average of $28.40 and a 200 day simple moving average of $29.59.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 EPS 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 for the quarter, compared to analyst estimates of $2.84 billion. During the same period in the prior year, the company posted $0.66 EPS. The business’s revenue was down 3.8% on a year-over-year basis. Sell-side analysts anticipate that Conagra Brands will post 2.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CAG has been the topic of a number of recent research reports. Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a research report on Thursday, October 3rd. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Bank of America reduced their target price on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research report on Thursday, October 3rd. Wells Fargo & Company lifted their price target on shares of Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Finally, Citigroup dropped their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Conagra Brands has a consensus rating of “Hold” and an average target price of $31.50.

Conagra Brands Company Profile

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.