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

Conagra Brands, Inc. (NYSE:CAG) declared a quarterly dividend on Wednesday, April 2nd, RTT News reports. Shareholders of record on Monday, April 28th will be paid a dividend of 0.35 per share on Thursday, May 29th. This represents a $1.40 dividend on an annualized basis and a yield of 5.32%.

Conagra Brands has raised its dividend by an average of 4.9% per year over the last three years. Conagra Brands has a payout ratio of 54.1% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Down 1.1 %

Shares of NYSE CAG opened at $26.32 on Thursday. Conagra Brands has a 12-month low of $23.06 and a 12-month high of $33.24. The company has a market cap of $12.56 billion, a price-to-earnings ratio of 25.80, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. The stock’s 50 day simple moving average is $25.69 and its 200 day simple moving average is $27.52.

Wall Street Analyst Weigh In

CAG has been the topic of several analyst reports. Barclays cut their target price on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Bank of America dropped their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a research note on Friday, December 20th. Stifel Nicolaus dropped their price target on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a research note on Wednesday, February 19th. Finally, Morgan Stanley initiated coverage on Conagra Brands in a report on Monday, March 24th. They set an “equal weight” rating and a $27.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price 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.