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.
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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