Conagra Brands (CAG) to Issue Quarterly Dividend of $0.35 on November 26th

Conagra Brands (NYSE:CAG) declared a quarterly dividend on Tuesday, September 30th, RTT News reports. Shareholders of record on Thursday, October 30th will be paid a dividend of 0.35 per share on Wednesday, November 26th. This represents a c) dividend on an annualized basis and a yield of 7.3%. The ex-dividend date is Thursday, October 30th.

Conagra Brands has a dividend payout ratio of 56.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Conagra Brands to earn $2.49 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 56.2%.

Conagra Brands Trading Up 5.3%

Shares of CAG stock opened at $19.28 on Thursday. The stock has a market cap of $9.23 billion, a price-to-earnings ratio of 8.06, a price-to-earnings-growth ratio of 1.76 and a beta of 0.04. The company has a quick ratio of 0.24, a current ratio of 0.71 and a debt-to-equity ratio of 0.70. Conagra Brands has a fifty-two week low of $17.89 and a fifty-two week high of $30.61. The firm’s 50 day moving average price is $18.98 and its two-hundred day moving average price is $21.69.

Conagra Brands (NYSE:CAG) last posted its earnings results on Wednesday, October 1st. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.06. Conagra Brands had a net margin of 9.92% and a return on equity of 12.52%. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same period in the previous year, the company posted $0.53 earnings per share. The business’s revenue for the quarter was down 5.8% compared to the same quarter last year. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. On average, analysts anticipate that Conagra Brands will post 2.35 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Morgan Stanley boosted their target price on shares of Conagra Brands from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 24th. Royal Bank Of Canada cut their price target on shares of Conagra Brands from $25.00 to $22.00 and set a “sector perform” rating on the stock in a report on Friday, July 11th. UBS Group cut their price target on shares of Conagra Brands from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, September 24th. The Goldman Sachs Group cut shares of Conagra Brands from a “neutral” rating to a “sell” rating and cut their price target for the company from $26.00 to $21.00 in a report on Monday, June 9th. Finally, JPMorgan Chase & Co. assumed coverage on Conagra Brands in a report on Wednesday, August 20th. They issued a “neutral” rating and a $20.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $21.83.

About Conagra Brands

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.