Conagra Brands (NYSE:CAG – Get Free Report) declared 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 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Thursday, November 5th.
Conagra Brands has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 5 consecutive years. Conagra Brands has a dividend payout ratio of 28.0% indicating that 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 Performance
Shares of CAG traded down $0.12 during mid-day trading on Thursday, hitting $14.66. The company’s stock had a trading volume of 11,116,825 shares, compared to its average volume of 14,864,027. The stock’s 50-day moving average is $15.28 and its two-hundred day moving average is $14.72. The firm has a market capitalization of $7.01 billion, a PE 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 one year low of $12.53 and a one year high of $20.32.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on CAG shares. JPMorgan Chase & Co. increased their target price on shares of Conagra Brands from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Morgan Stanley lowered their price target on Conagra Brands from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Friday, June 5th. Royal Bank Of Canada cut their price target on Conagra Brands from $16.00 to $14.00 and set a “sector perform” rating for the company in a report on Thursday, July 16th. Jefferies Financial Group reduced their price objective on Conagra Brands from $15.00 to $13.00 and set a “hold” rating for the company in a research report on Wednesday, May 27th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Conagra Brands from $12.00 to $13.00 and gave the stock a “hold” rating in a report on Friday, September 18th. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $14.10.
Read Our Latest Stock Report on CAG
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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