Conagra Brands Inc (NYSE:CAG) announced a quarterly dividend on Friday, July 24th, RTT News reports. Stockholders of record on Tuesday, August 4th will be given a dividend of 0.2125 per share on Thursday, September 3rd. This represents a $0.85 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Monday, August 3rd.
Conagra Brands has decreased its dividend payment by an average of 15.0% per year over the last three years and has increased its dividend every year for the last 1 years. Conagra Brands has a payout ratio of 39.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Conagra Brands to earn $2.61 per share next year, which means the company should continue to be able to cover its $0.85 annual dividend with an expected future payout ratio of 32.6%.
Conagra Brands stock opened at $37.45 on Friday. The firm’s 50-day moving average is $35.17 and its two-hundred day moving average is $32.41. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.88 and a quick ratio of 0.46. The stock has a market capitalization of $18.25 billion, a P/E ratio of 21.77, a P/E/G ratio of 2.24 and a beta of 0.85. Conagra Brands has a 12-month low of $22.83 and a 12-month high of $37.82.
A number of equities analysts have commented on the stock. ValuEngine lowered shares of Conagra Brands from a “sell” rating to a “strong sell” rating in a report on Thursday, July 2nd. Credit Suisse Group lifted their price objective on Conagra Brands from $36.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, July 1st. Deutsche Bank raised their price target on shares of Conagra Brands from $32.00 to $36.00 and gave the stock a “hold” rating in a research report on Wednesday, July 1st. Stifel Nicolaus upped their price target on shares of Conagra Brands from $36.00 to $39.00 in a report on Wednesday, July 1st. Finally, Jefferies Financial Group raised shares of Conagra Brands to a “buy” rating and set a $41.00 target price for the company in a research report on Tuesday, June 30th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $35.29.
In related news, EVP Colleen Batcheler sold 41,165 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $37.52, for a total value of $1,544,510.80. Following the sale, the executive vice president now directly owns 169,874 shares in the company, valued at approximately $6,373,672.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP David Biegger sold 33,634 shares of Conagra Brands stock in a transaction on Friday, July 31st. The shares were sold at an average price of $37.66, for a total value of $1,266,656.44. Following the sale, the executive vice president now directly owns 66,697 shares in the company, valued at approximately $2,511,809.02. The disclosure for this sale can be found here. Insiders sold 364,422 shares of company stock worth $13,145,465 over the last quarter. 0.84% of the stock is currently owned by company insiders.
About Conagra Brands
Conagra Brands, Inc, together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.
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