Conagra Brands (NYSE:CAG) Shareholders Set to Receive $0.17 Quarterly Dividend

Key Points

• Conagra Brands declared a quarterly dividend of $0.175 per share, payable December 3 to shareholders of record November 5. The dividend equates to $0.70 annually and a 4.8% yield.
• The dividend appears financially supported, with a current payout ratio of 28%; analysts expect next year’s earnings to cover the dividend at an estimated 44.6% payout ratio.
• Conagra shares fell 0.8% to $14.66, while the company reported quarterly EPS of $0.47, narrowly beating estimates, and revenue of $2.88 billion, up 3.6% year over year.

Conagra Brands (NYSE:CAG - Get Free Report) announced a quarterly dividend on Thursday, September 24th. Stockholders of record on Thursday, November 5th will be paid a dividend of $0.1750 per share on Thursday, December 3rd. This represents a $0.70 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Thursday, November 5th.

Conagra Brands has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 5 years. Conagra Brands has a dividend payout ratio of 28.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Conagra Brands to earn $1.57 per share next year, which means the company should continue to be able to cover its $0.70 annual dividend with an expected future payout ratio of 44.6%.

Conagra Brands Stock Down 0.8%

NYSE:CAG traded down $0.12 during trading hours on Thursday, hitting $14.66. 11,116,825 shares of the company's stock traded hands, compared to its average volume of 14,864,027. The stock's fifty day moving average price is $15.28 and its two-hundred day moving average price is $14.72. The firm has a market cap of $7.01 billion, a P/E ratio of -3.66 and a beta of -0.01. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.31 and a current ratio of 0.90. Conagra Brands has a twelve month low of $12.53 and a twelve month high of $20.32.

Conagra Brands (NYSE:CAG - Get Free Report) last released its earnings results on Wednesday, July 15th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.01. The company had revenue of $2.88 billion for the quarter, compared to analysts' expectations of $2.89 billion. Conagra Brands had a positive return on equity of 10.44% and a negative net margin of 16.99%.The business's revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.56 EPS. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. On average, research analysts expect that Conagra Brands will post 1.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in Conagra Brands during the second quarter worth approximately $1,071,275,000. Dimensional Fund Advisors LP boosted its holdings in shares of Conagra Brands by 9.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 19,323,789 shares of the company's stock worth $303,771,000 after buying an additional 1,701,624 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Conagra Brands by 34.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 10,404,020 shares of the company's stock worth $180,094,000 after buying an additional 2,669,959 shares during the period. Norges Bank acquired a new position in Conagra Brands in the 4th quarter valued at $145,656,000. Finally, Goldman Sachs Group Inc. raised its holdings in Conagra Brands by 23.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 8,125,901 shares of the company's stock worth $140,659,000 after acquiring an additional 1,554,725 shares during the period. Institutional investors and hedge funds own 83.75% of the company's stock.

Conagra Brands Company Profile

Conagra Brands, Inc is a packaged food company that develops, manufactures and markets branded and private-label food products primarily in North America. Its portfolio spans frozen meals and sides, snacks, shelf-stable foods, condiments, refrigerated foods and cooking products, serving retail grocery, foodservice and other distribution channels.

Its well-known brands include Birds Eye, Healthy Choice, Banquet, Marie Callender's, Duncan Hines, Reddi-wip, Slim Jim, Vlasic, Hunt's and PAM.

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