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

Conagra Brands, Inc. (NYSE:CAG) declared a quarterly dividend on Wednesday, April 2nd, RTT News reports. Investors 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 yield of 5.32%.

Conagra Brands has raised its dividend payment by an average of 4.9% annually over the last three years. Conagra Brands has a payout ratio of 54.1% meaning 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 Performance

Shares of CAG stock opened at $26.32 on Thursday. 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 has a 50 day simple moving average of $25.69 and a 200-day simple moving average of $27.52. 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. Conagra Brands has a 12-month low of $23.06 and a 12-month high of $33.24.

Analysts Set New Price Targets

A number of research firms have commented on CAG. Wells Fargo & Company reduced their target price on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Bank of America dropped their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Stifel Nicolaus reduced their price target on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a 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. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a report on Friday, December 20th. Nine equities 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus 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.