Conagra Brands Inc to Issue Quarterly Dividend of $0.21 (CAG)

Conagra Brands Inc (NYSE:CAG) declared a quarterly dividend on Tuesday, April 16th, RTT News reports. Investors of record on Tuesday, April 30th will be given a dividend of 0.2125 per share on Friday, May 31st. This represents a $0.85 dividend on an annualized basis and a yield of 2.82%.

Conagra Brands has decreased its dividend payment by an average of 5.3% annually over the last three years. Conagra Brands has a payout ratio of 38.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Conagra Brands to earn $2.17 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 39.2%.

Shares of Conagra Brands stock opened at $30.09 on Wednesday. The company has a market capitalization of $14.62 billion, a PE ratio of 14.26, a P/E/G ratio of 2.18 and a beta of 0.77. Conagra Brands has a 52 week low of $20.22 and a 52 week high of $39.43. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.31 and a quick ratio of 0.58.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Thursday, March 21st. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.49 by $0.02. The firm had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.75 billion. Conagra Brands had a return on equity of 16.40% and a net margin of 6.99%. The company’s quarterly revenue was up 35.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.61 earnings per share. On average, equities research analysts predict that Conagra Brands will post 2.07 earnings per share for the current fiscal year.

Several analysts have recently commented on CAG shares. Goldman Sachs Group downgraded Conagra Brands from a “conviction-buy” rating to a “buy” rating in a research note on Wednesday, January 2nd. Bank of America set a $30.00 price objective on Conagra Brands and gave the stock a “buy” rating in a research note on Friday, March 22nd. Barclays reissued a “buy” rating and issued a $30.00 price objective on shares of Conagra Brands in a research note on Sunday, December 23rd. Jefferies Financial Group reissued a “buy” rating and issued a $44.00 price objective on shares of Conagra Brands in a research note on Wednesday, December 19th. Finally, Credit Suisse Group set a $39.00 price objective on Conagra Brands and gave the stock a “hold” rating in a research note on Thursday, December 20th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $37.90.

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Conagra Brands Company Profile

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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Dividend History for Conagra Brands (NYSE:CAG)

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