Conagra Brands Inc (NYSE:CAG) announced a quarterly dividend on Friday, July 24th, RTT News reports. Investors of record on Tuesday, August 4th will be given a dividend of 0.2125 per share on Thursday, September 3rd. This represents a $0.85 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend is Monday, August 3rd.
Conagra Brands has decreased its dividend by an average of 15.0% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Conagra Brands has a payout ratio of 39.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Conagra Brands to earn $2.61 per share next year, which means the company should continue to be able to cover its $0.85 annual dividend with an expected future payout ratio of 32.6%.
Shares of NYSE CAG opened at $37.45 on Friday. Conagra Brands has a 12-month low of $22.83 and a 12-month high of $37.82. The company has a market cap of $18.25 billion, a P/E ratio of 21.77, a P/E/G ratio of 2.23 and a beta of 0.85. The company has a current ratio of 0.88, a quick ratio of 0.46 and a debt-to-equity ratio of 1.12. The stock has a fifty day moving average price of $35.17 and a 200 day moving average price of $32.41.
In other news, EVP David Biegger sold 33,634 shares of the company’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $37.66, for a total transaction of $1,266,656.44. Following the completion of the transaction, the executive vice president now owns 66,697 shares in the company, valued at $2,511,809.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas M. Mcgough sold 80,615 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $35.00, for a total transaction of $2,821,525.00. Following the completion of the sale, the insider now directly owns 226,484 shares in the company, valued at approximately $7,926,940. The disclosure for this sale can be found here. Insiders sold a total of 364,422 shares of company stock valued at $13,145,465 over the last ninety days. Company insiders own 0.84% of the company’s stock.
Several analysts have issued reports on the stock. Stifel Nicolaus increased their price objective on shares of Conagra Brands from $36.00 to $39.00 in a research report on Wednesday, July 1st. ValuEngine lowered shares of Conagra Brands from a “sell” rating to a “strong sell” rating in a report on Thursday, July 2nd. Deutsche Bank boosted their price objective on shares of Conagra Brands from $32.00 to $36.00 and gave the stock a “hold” rating in a report on Wednesday, July 1st. Jefferies Financial Group raised shares of Conagra Brands to a “buy” rating and set a $41.00 price objective for the company in a research report on Tuesday, June 30th. Finally, SunTrust Banks lowered Conagra Brands from a “buy” rating to a “hold” rating and set a $35.00 target price on the stock. in a research report on Monday, May 11th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Conagra Brands presently has a consensus rating of “Hold” and an average price target of $35.29.
About Conagra Brands
Conagra Brands, Inc, together with its subsidiaries, operates as a 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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