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

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 4.50%. The ex-dividend date is Monday, April 29th.

Conagra Brands has increased its dividend 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 payout ratio of 49.0% indicating that its dividend is sufficiently covered by earnings. Research 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

Conagra Brands stock opened at $31.08 on Friday. The company has a market cap of $14.86 billion, a PE ratio of 15.62, a P/E/G ratio of 3.12 and a beta of 0.42. The company has a fifty day moving average price of $29.23 and a two-hundred day moving average price of $28.68. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.95 and a quick ratio of 0.33. Conagra Brands has a 12 month low of $25.16 and a 12 month high of $38.73.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Thursday, April 4th. The company reported $0.69 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter in the previous year, the company posted $0.76 earnings per share. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. Research analysts expect that Conagra Brands will post 2.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CAG. Barclays boosted their price target on shares of Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Wells Fargo & Company boosted their price target on shares of Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, April 5th. Stifel Nicolaus boosted their price target on shares of Conagra Brands from $29.00 to $32.00 and gave the company a “hold” rating in a report on Friday, April 5th. Citigroup boosted their price target on shares of Conagra Brands from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Finally, Royal Bank of Canada cut their price objective 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 investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $33.14.

About Conagra Brands

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.