Conagra Brands (NYSE:CAG) Announces Quarterly Dividend of $0.35

Conagra Brands (NYSE:CAG - Get Free Report) announced a quarterly dividend on Wednesday, July 9th, RTT News reports. Shareholders of record on Wednesday, July 30th will be given a dividend of 0.35 per share on Thursday, August 28th. This represents a $1.40 dividend on an annualized basis and a yield of 7.22%. The ex-dividend date is Wednesday, July 30th.

Conagra Brands has a dividend payout ratio of 56.0% 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 Trading Down 0.5%

CAG stock traded down $0.10 during trading on Friday, reaching $19.39. 20,158,823 shares of the stock traded hands, compared to its average volume of 5,963,454. The business's 50 day moving average price is $21.96 and its 200-day moving average price is $24.47. Conagra Brands has a 52-week low of $18.82 and a 52-week high of $33.24. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.71 and a quick ratio of 0.23. The firm has a market capitalization of $9.26 billion, a PE ratio of 8.11, a P/E/G ratio of 1.84 and a beta of 0.11.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its quarterly earnings results on Thursday, July 10th. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.61 by ($0.05). Conagra Brands had a net margin of 9.92% and a return on equity of 12.52%. The firm had revenue of $2,781,800 billion for the quarter, compared to analysts' expectations of $2.88 billion. During the same period last year, the firm posted $0.61 EPS. Conagra Brands's revenue was down 4.3% on a year-over-year basis. As a group, sell-side analysts forecast that Conagra Brands will post 2.35 earnings per share for the current year.

Institutional Trading of Conagra Brands

Institutional investors and hedge funds have recently bought and sold shares of the company. United Services Automobile Association acquired a new stake in Conagra Brands during the first quarter valued at approximately $225,000. NewEdge Advisors LLC raised its position in shares of Conagra Brands by 4.2% during the 1st quarter. NewEdge Advisors LLC now owns 23,541 shares of the company's stock worth $628,000 after purchasing an additional 954 shares during the period. Empowered Funds LLC raised its position in shares of Conagra Brands by 5.9% during the 1st quarter. Empowered Funds LLC now owns 36,356 shares of the company's stock worth $970,000 after purchasing an additional 2,038 shares during the period. Finally, Woodline Partners LP raised its position in shares of Conagra Brands by 40.7% during the 1st quarter. Woodline Partners LP now owns 40,326 shares of the company's stock worth $1,075,000 after purchasing an additional 11,664 shares during the period. Institutional investors and hedge funds own 83.75% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company decreased their target price on Conagra Brands from $23.00 to $22.00 and set an "equal weight" rating for the company in a research report on Wednesday. The Goldman Sachs Group cut Conagra Brands from a "neutral" rating to a "sell" rating and cut their price target for the stock from $26.00 to $21.00 in a research note on Monday, June 9th. Royal Bank Of Canada cut their price target on Conagra Brands from $25.00 to $22.00 and set a "sector perform" rating on the stock in a research note on Friday. Barclays cut their price target on Conagra Brands from $29.00 to $26.00 and set an "overweight" rating on the stock in a research note on Monday, May 12th. Finally, Evercore ISI cut their price target on Conagra Brands from $26.00 to $24.00 and set an "in-line" rating on the stock in a research note on Friday. Two investment analysts have rated the stock with a sell rating, eight have issued 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.com, the stock has an average rating of "Hold" and an average price target of $22.73.

Conagra Brands Company Profile

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.