Conagra Brands (CAG) To Go Ex-Dividend on April 30th

Conagra Brands (NYSE:CAG) declared a quarterly dividend on Tuesday, March 31st. Stockholders of record on Thursday, April 30th will be given a dividend of 0.35 per share on Wednesday, June 3rd. This represents a c) dividend on an annualized basis and a dividend yield of 9.0%. The ex-dividend date is Thursday, April 30th.

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 payout ratio of 56.0% meaning its dividend is sufficiently covered by earnings. 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 Stock Performance

NYSE CAG opened at $15.54 on Thursday. The company has a quick ratio of 0.28, a current ratio of 0.89 and a debt-to-equity ratio of 0.80. Conagra Brands has a twelve month low of $15.03 and a twelve month high of $27.68. The business has a 50-day moving average price of $17.84 and a 200-day moving average price of $17.76. The firm has a market cap of $7.43 billion, a price-to-earnings ratio of -70.61 and a beta of 0.04.

Conagra Brands (NYSE:CAG) last issued its earnings results on Wednesday, April 1st. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.01). Conagra Brands had a negative net margin of 0.87% and a positive return on equity of 10.59%. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same period last year, the business posted $0.51 EPS. The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. As a group, equities research analysts predict that Conagra Brands will post 2.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CAG. CYBER HORNET ETFs LLC purchased a new stake in Conagra Brands during the second quarter valued at $26,000. Harbour Investments Inc. grew its stake in shares of Conagra Brands by 80.4% in the 4th quarter. Harbour Investments Inc. now owns 1,573 shares of the company’s stock worth $27,000 after buying an additional 701 shares in the last quarter. True Wealth Design LLC increased its holdings in shares of Conagra Brands by 844.4% in the 3rd quarter. True Wealth Design LLC now owns 1,596 shares of the company’s stock worth $29,000 after buying an additional 1,427 shares during the last quarter. MUFG Securities EMEA plc bought a new stake in shares of Conagra Brands in the 2nd quarter worth about $29,000. Finally, Spire Wealth Management raised its position in shares of Conagra Brands by 249.0% during the 3rd quarter. Spire Wealth Management now owns 1,724 shares of the company’s stock valued at $32,000 after buying an additional 1,230 shares in the last quarter. 83.75% of the stock is owned by hedge funds and other institutional investors.

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.