Conagra Brands, Inc. Plans Quarterly Dividend of $0.31 (NYSE:CAG)

Conagra Brands, Inc. (NYSE:CAGGet Rating) declared a quarterly dividend on Thursday, April 14th, RTT News reports. Shareholders of record on Friday, April 29th will be paid a dividend of 0.3125 per share on Wednesday, June 1st. This represents a $1.25 dividend on an annualized basis and a dividend yield of 3.51%.

Conagra Brands has a payout ratio of 48.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Conagra Brands to earn $2.57 per share next year, which means the company should continue to be able to cover its $1.25 annual dividend with an expected future payout ratio of 48.6%.

Shares of NYSE:CAG opened at $35.62 on Friday. Conagra Brands has a 52 week low of $30.06 and a 52 week high of $39.09. The stock has a market capitalization of $17.09 billion, a P/E ratio of 16.57, a PEG ratio of 2.17 and a beta of 0.77. The firm has a fifty day simple moving average of $33.87 and a two-hundred day simple moving average of $33.51. The company has a quick ratio of 0.33, a current ratio of 0.83 and a debt-to-equity ratio of 0.91.

Conagra Brands (NYSE:CAGGet Rating) last issued its quarterly earnings data on Thursday, April 7th. The company reported $0.58 EPS for the quarter, hitting analysts’ consensus estimates of $0.58. Conagra Brands had a net margin of 9.14% and a return on equity of 12.46%. The business had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same period last year, the company posted $0.59 EPS. The business’s revenue was up 5.1% on a year-over-year basis. On average, analysts expect that Conagra Brands will post 2.35 earnings per share for the current year.

In other news, COO Thomas M. Mcgough sold 40,802 shares of the business’s stock in a transaction dated Thursday, January 20th. The shares were sold at an average price of $35.96, for a total value of $1,467,239.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Darren Serrao sold 11,700 shares of the business’s stock in a transaction dated Friday, April 8th. The shares were sold at an average price of $34.49, for a total transaction of $403,533.00. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. raised its stake in shares of Conagra Brands by 9.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,454,429 shares of the company’s stock worth $83,819,000 after acquiring an additional 221,964 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Conagra Brands by 2.3% during the 4th quarter. California State Teachers Retirement System now owns 850,450 shares of the company’s stock worth $29,043,000 after acquiring an additional 18,825 shares in the last quarter. Stifel Financial Corp raised its stake in shares of Conagra Brands by 19.1% during the 4th quarter. Stifel Financial Corp now owns 417,976 shares of the company’s stock worth $14,273,000 after acquiring an additional 66,903 shares in the last quarter. Comerica Bank raised its stake in shares of Conagra Brands by 9.4% during the 4th quarter. Comerica Bank now owns 134,159 shares of the company’s stock worth $4,701,000 after acquiring an additional 11,535 shares in the last quarter. Finally, Toroso Investments LLC bought a new position in shares of Conagra Brands during the 4th quarter worth approximately $2,222,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Conagra Brands from $36.00 to $35.00 in a research note on Friday, January 7th. Zacks Investment Research raised shares of Conagra Brands from a “sell” rating to a “hold” rating and set a $35.00 price target for the company in a research note on Wednesday, March 30th. Evercore ISI began coverage on shares of Conagra Brands in a research note on Friday, April 8th. They set a “buy” rating and a $40.00 price target for the company. UBS Group began coverage on shares of Conagra Brands in a research note on Wednesday, March 30th. They set a “neutral” rating and a $34.00 price target for the company. Finally, Consumer Edge cut shares of Conagra Brands from an “overweight” rating to an “equal weight” rating and set a $34.00 price target for the company. in a research note on Tuesday, March 8th. Thirteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Conagra Brands has an average rating of “Hold” and an average price target of $36.46.

About Conagra Brands (Get Rating)

Conagra Brands, Inc engages in the manufacture and sale of processed and packaged foods. It operates through the following segments: Grocery and Snacks, Refrigerated and Frozen, International, and Foodservice. The Grocery and Snacks segment includes branded, shelf stable food products sold in various retail channels in the United States.

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Dividend History for Conagra Brands (NYSE:CAG)

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