Conagra Brands, Inc. (NYSE:CAG – Get Free Report) declared a quarterly dividend on Thursday, July 11th, RTT News reports. Shareholders of record on Thursday, August 1st will be paid a dividend of 0.35 per share on Thursday, August 29th. This represents a $1.40 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date of this dividend is Thursday, August 1st.
Conagra Brands has raised its dividend payment by an average of 14.2% per year over the last three years. Conagra Brands has a payout ratio of 51.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Conagra Brands to earn $2.73 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 51.3%.
Conagra Brands Stock Performance
CAG opened at $30.16 on Tuesday. The firm has a market capitalization of $14.42 billion, a PE ratio of 41.32, a PEG ratio of 2.62 and a beta of 0.32. The company has a current ratio of 0.97, a quick ratio of 0.33 and a debt-to-equity ratio of 0.88. Conagra Brands has a twelve month low of $25.16 and a twelve month high of $33.23. The firm’s 50-day moving average price is $29.20 and its 200 day moving average price is $29.28.
Insider Buying and Selling at Conagra Brands
In other Conagra Brands news, EVP Charisse Brock sold 15,444 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $30.37, for a total transaction of $469,034.28. Following the completion of the sale, the executive vice president now directly owns 113,254 shares of the company’s stock, valued at approximately $3,439,523.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.88% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Several research analysts recently weighed in on CAG shares. Stifel Nicolaus lowered their price objective on Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Friday, July 12th. Royal Bank of Canada lowered their price target on Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Citigroup cut their price objective on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a research report on Friday, June 28th. Barclays decreased their target price on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Finally, Evercore ISI dropped their price target on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.18.
Check Out Our Latest Stock Analysis on Conagra Brands
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.
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