Conagra Brands (NYSE:CAG) to Issue Quarterly Dividend of $0.17

Conagra Brands (NYSE:CAG) announced a quarterly dividend on Wednesday, July 15th. Investors of record on Thursday, July 30th will be paid a dividend of 0.175 per share on Wednesday, September 2nd. This represents a c) annualized dividend and a yield of 5.0%. The ex-dividend date is Thursday, July 30th.

Conagra Brands has raised its dividend 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 56.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Conagra Brands to earn $1.65 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 84.8%.

Conagra Brands Stock Performance

NYSE:CAG traded down $0.01 during trading hours on Wednesday, reaching $14.14. The company had a trading volume of 32,556,341 shares, compared to its average volume of 16,028,336. The firm has a market cap of $6.76 billion, a price-to-earnings ratio of -141.35 and a beta of -0.02. The company has a current ratio of 0.90, a quick ratio of 0.30 and a debt-to-equity ratio of 0.79. The firm’s 50 day moving average price is $13.60 and its 200-day moving average price is $15.76. Conagra Brands has a 52 week low of $12.53 and a 52 week high of $20.32.

Conagra Brands (NYSE:CAG) last released its quarterly 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 firm 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 10.15% and a negative net margin of 0.39%.The company’s revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.56 EPS. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. On average, analysts forecast that Conagra Brands will post 1.7 EPS for the current year.

Analyst Upgrades and Downgrades

CAG has been the topic of a number of recent research reports. Weiss Ratings downgraded Conagra Brands from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, June 25th. UBS Group reduced their price target on shares of Conagra Brands from $16.00 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, June 2nd. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Conagra Brands from $14.00 to $12.00 and set a “hold” rating on the stock in a research note on Thursday, June 18th. BNP Paribas Exane dropped their price objective on shares of Conagra Brands from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, May 21st. Finally, Barclays reduced their target price on shares of Conagra Brands from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Wednesday, July 8th. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $14.00.

About Conagra Brands

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.