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

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 4.99%.

Conagra Brands has increased its dividend payment by an average of 14.2% per year over the last three years. Conagra Brands has a payout ratio of 52.0% meaning 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 Trading Up 1.2 %

Shares of CAG stock opened at $28.05 on Friday. The company has a market capitalization of $13.39 billion, a P/E ratio of 27.23, a price-to-earnings-growth ratio of 2.86 and a beta of 0.31. 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 business’s 50 day moving average is $28.42 and its two-hundred day moving average is $29.61. Conagra Brands has a twelve month low of $26.21 and a twelve month high of $33.24.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.07). The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.84 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. Conagra Brands’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.66 earnings per share. Equities analysts forecast that Conagra Brands will post 2.58 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a report on Thursday, October 3rd. Wells Fargo & Company upped 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. Bank of America dropped their price objective on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research note on Thursday, October 3rd. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Finally, Citigroup cut their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Conagra Brands has a consensus rating of “Hold” and a consensus price target 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.