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

Conagra Brands, Inc. (NYSE:CAG) declared a quarterly dividend on Thursday, April 11th, RTT News reports. Shareholders of record on Tuesday, April 30th will be given a dividend of 0.35 per share on Thursday, May 30th. This represents a $1.40 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date of this dividend is Monday, April 29th.

Conagra Brands has raised its dividend payment by an average of 14.2% per year over the last three years and has increased its dividend every year for the last 4 years. Conagra Brands has a dividend payout ratio of 49.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Conagra Brands to earn $2.69 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 52.0%.

Conagra Brands Stock Performance

NYSE:CAG opened at $31.07 on Friday. The firm’s 50-day moving average is $29.23 and its 200-day moving average is $28.67. Conagra Brands has a 52-week low of $25.16 and a 52-week high of $38.73. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.33 and a current ratio of 0.95. The company has a market cap of $14.85 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 3.14 and a beta of 0.42.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, April 4th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.05. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter in the previous year, the firm posted $0.76 EPS. The business’s revenue was down 1.7% compared to the same quarter last year. Equities research analysts anticipate that Conagra Brands will post 2.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CAG. Wells Fargo & Company upped their target price on shares of Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, April 5th. Stifel Nicolaus upped their target price on shares of Conagra Brands from $29.00 to $32.00 and gave the company a “hold” rating in a research note on Friday, April 5th. Citigroup upped their target price on shares of Conagra Brands from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Barclays upped their target price on shares of Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Finally, Royal Bank of Canada lowered their target price on shares of Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 3rd. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $33.14.

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.