Conagra Brands, Inc. (NYSE:CAG - Get Free Report) declared 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 raised its dividend payment by an average of 14.2% per year over the last three years. Conagra Brands has a dividend payout ratio of 52.0% indicating that its dividend is sufficiently covered by earnings. 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 Trading Up 1.2 %
Shares of NYSE CAG traded up $0.32 during midday trading on Thursday, reaching $28.05. 4,739,249 shares of the stock were exchanged, compared to its average volume of 4,772,625. The company has a market capitalization of $13.39 billion, a P/E ratio of 26.92, a P/E/G ratio of 2.80 and a beta of 0.31. Conagra Brands has a 52-week low of $26.21 and a 52-week high of $33.24. 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 stock has a 50 day moving average price of $28.45 and a 200-day moving average price of $29.62.
Conagra Brands (NYSE:CAG - Get Free Report) last issued its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing analysts' consensus estimates of $0.60 by ($0.07). The firm had revenue of $2.79 billion for the quarter, compared to analysts' expectations of $2.84 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The business's quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.66 earnings per share. Equities research analysts expect that Conagra Brands will post 2.59 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on CAG shares. Royal Bank of Canada reiterated a "sector perform" rating and set a $29.00 price target on shares of Conagra Brands in a report on Thursday, October 3rd. Bank of America lowered their target price on shares of Conagra Brands from $34.00 to $33.00 and set a "neutral" rating for the company in a report on Thursday, October 3rd. Citigroup lowered their target price on shares of Conagra Brands from $31.00 to $29.00 and set a "neutral" rating for the company in a report on Wednesday. BNP Paribas upgraded shares of Conagra Brands to a "strong-buy" rating in a report on Thursday, October 3rd. Finally, Wells Fargo & Company boosted their target price on shares of Conagra Brands from $30.00 to $31.00 and gave the company an "equal weight" rating in a report on Thursday, October 17th. Six research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Conagra Brands presently has a consensus rating of "Hold" and a consensus target price of $31.50.
Read Our Latest Research Report on CAG
About Conagra Brands
(
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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.
Further Reading
![Dividend History for Conagra Brands (NYSE:CAG)](https://www.marketbeat.com/scripts/DividendChart.ashx?Prefix=NYSE&Symbol=CAG)
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