Conagra Brands, Inc. (NYSE:CAG) announced a quarterly dividend on Friday, April 16th, RTT News reports. Investors of record on Friday, April 30th will be paid a dividend of 0.275 per share on Wednesday, June 2nd. This represents a $1.10 annualized dividend and a yield of 2.94%.
Conagra Brands has increased its dividend by 10.6% over the last three years and has increased its dividend every year for the last 1 years.
Shares of CAG stock traded down $0.19 during trading hours on Friday, hitting $37.39. The company had a trading volume of 56,010 shares, compared to its average volume of 4,022,547. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.83 and a quick ratio of 0.35. The stock has a market capitalization of $17.95 billion, a PE ratio of 16.56, a price-to-earnings-growth ratio of 1.86 and a beta of 0.86. The company's fifty day moving average is $36.72 and its 200 day moving average is $35.89. Conagra Brands has a fifty-two week low of $31.66 and a fifty-two week high of $39.34.
Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Wednesday, April 7th. The company reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.01. Conagra Brands had a return on equity of 16.50% and a net margin of 9.67%. The company had revenue of $2.77 billion for the quarter, compared to analysts' expectations of $2.72 billion. During the same period in the prior year, the firm earned $0.47 earnings per share. The firm's revenue was up 8.5% compared to the same quarter last year. Equities analysts forecast that Conagra Brands will post 2.6 earnings per share for the current year.
In other Conagra Brands news, COO Thomas M. Mcgough sold 24,340 shares of the firm's stock in a transaction on Tuesday, March 16th. The stock was sold at an average price of $37.50, for a total value of $912,750.00. Following the sale, the chief operating officer now directly owns 80,681 shares in the company, valued at $3,025,537.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Thomas M. Mcgough sold 45,660 shares of Conagra Brands stock in a transaction dated Friday, March 19th. The stock was sold at an average price of $37.55, for a total value of $1,714,533.00. Following the sale, the chief operating officer now directly owns 102,001 shares of the company's stock, valued at $3,830,137.55. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.
Several research firms have weighed in on CAG. Zacks Investment Research raised Conagra Brands from a "sell" rating to a "hold" rating and set a $36.00 target price for the company in a research report on Monday, January 11th. Royal Bank of Canada lifted their price objective on shares of Conagra Brands from $37.00 to $38.00 in a report on Friday, April 9th. Jefferies Financial Group initiated coverage on shares of Conagra Brands in a report on Friday, January 8th. They set a "buy" rating and a $41.00 target price on the stock. Finally, Credit Suisse Group boosted their price target on shares of Conagra Brands from $33.00 to $34.00 and gave the stock an "underperform" rating in a research note on Monday, March 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The company has an average rating of "Hold" and a consensus price target of $36.88.
About Conagra Brands
Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.
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