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

Conagra Brands, Inc. (NYSE:CAG) declared a quarterly dividend on Wednesday, April 2nd, RTT News reports. Stockholders of record on Monday, April 28th will be given a dividend of 0.35 per share on Thursday, May 29th. This represents a $1.40 annualized dividend and a dividend yield of 5.26%.

Conagra Brands has increased its dividend by an average of 4.9% annually over the last three years. Conagra Brands has a payout ratio of 54.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Conagra Brands to earn $2.49 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 56.2%.

Conagra Brands Stock Down 0.2 %

NYSE CAG opened at $26.60 on Wednesday. The business has a fifty day moving average price of $25.67 and a 200 day moving average price of $27.53. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. The company has a market cap of $12.70 billion, a P/E ratio of 26.08, a P/E/G ratio of 1.76 and a beta of 0.18. Conagra Brands has a one year low of $23.06 and a one year high of $33.24.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CAG. JPMorgan Chase & Co. decreased their price target on shares of Conagra Brands from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Stifel Nicolaus dropped their price target on Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a research report on Wednesday, February 19th. Citigroup reduced their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 11th. The Goldman Sachs Group cut Conagra Brands from a “buy” rating to a “neutral” rating and dropped their target price for the company from $33.00 to $26.00 in a report on Monday, February 24th. Finally, Wells Fargo & Company lowered their price target on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Nine research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $28.20.

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.