Economy

ConAgra Foods Inc. to Issue Quarterly Dividend of $0.21 (CAG)

ConAgra Foods Inc. to Issue Quarterly Dividend of $0.21 (CAG)”

The firm had revenue of $1.98 billion for the quarter, compared to analysts' expectations of $1.98 billion. Finally, Citigroup Inc raised shares of Conagra Brands from a "neutral" rating to a "buy" rating in a research report on Wednesday, January 11th. UBS AG reiterated a "sell" rating and set a $33.00 price objective (down previously from $35.00) on shares of ConAgra Foods in a research note on Friday, June 30th. J P Morgan Chase & Co restated an "overweight" recommendation and given a $42.00 price target (down from $44.00) on stocks of ConAgra Foods in a note on Wed, Jun 28th. Analysts pegging the company with a rating of 3 would be indicating a Hold recommendation. (NYSE:CAG). At the time of writing, the First Call consensus price target for the company is $40.54.

Conagra Brands Inc, which makes Reddi-Wip whipped cream and Chef Boyardee pasta, reported a stronger-than-expected quarterly profit on Thursday, as it earned higher margins after limiting discounts.

ConAgra Foods (NYSE:CAG) announced the quarter end financial earnings data on Early Thur. The company's 50 day moving average is $34.12 and its 200-day moving average is $37.15. The company has a market cap of $17.16 billion, a PE ratio of 29.32 and a beta of 0.30. The business's quarterly revenue was down 9.9% compared to the same quarter previous year. Research firm Zacks lifted stocks of ConAgra Foods from a "sell" recommendation to a "hold" recommendation in a study on Fri, Jun 2nd. On average, analysts anticipate that ConAgra Foods Inc. will post $1.86 earnings per share for the current fiscal year.

Shareholders of record on Friday, October 13th will be given a dividend of 0.2125 per share on Thursday, November 30th. This represents a $0.80 annualized dividend and a yield of 1.98%. ConAgra Foods's dividend payout ratio (DPR) is presently 57.82%.

Profit was dented as the company paid additional fees to stock its brands such as PAM and P.F. Chang's Home Menu at more supermarkets. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued. Also, Director Stephen G. Butler sold 5,848 shares of the firm's stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $40.61, for a total value of $245,528.06. The information was declared in a document with the SEC which can be accessed through the Security and Exchange Commission website. The stock was unloaded at a price range of of $33.22, amounting to $200,848.12. after the sale, the director has an ownership of 89,260 stocks in the company, assessed at roughly $2,965,217.20. Alpha Windward LLC now owns 2,838 shares of the company's stock worth $134,000 after buying an additional 61 shares during the period. The disclosure for this sale can be found here.

The Chicago-based company said it had profit of 36 cents per share.

ILLEGAL ACTIVITY NOTICE: This report was originally published by TrueBlueTribune and is the sole property of of TrueBlueTribune. If you are reading this article on another domain, it was copied illegally and reposted in violation of United States and worldwide trademark and copyright legislation. The legal version of this report can be viewed at https://www.dispatchtribunal.com/2017/09/28/conagra-foods-inc-announces-quarterly-dividend-of-0-21-cag.html.

Conagra has been revamping its business that has struggled with customers move away from packaged foods and toward fresh foods that are seen as healthier. The Company operates through two segments: Consumer Foods and Commercial Foods.



Like this

Latest


29 September 2017
Juncker: no talk on Britain-EU trade deal yet
Brexit Secretary David Davis during a Sunday interview on the BBC: "I mean firstly in 2019 we will leave". He added that "I don't know whether we will be able to make that call until later in the month".

29 September 2017
DNA shows that clown who killed woman later married her widower
Although Keen-Warren was previously identified as a suspect, it took 27 years for police to place charges. They hoped advances in DNA analysis and reinterviewing key witnesses would lead to a break in the case.

29 September 2017
Sea critters hitchhiked across the Pacific on tsunami debris
On March 11, 2011, an undersea megathrust natural disaster struck Japan, triggering a tsunami exceeding 38 meters in height. It is not clear if the new arrivals will have any effect on native species, since such impacts often take years to assess.

29 September 2017
Ryanair must reimburse cancelled United Kingdom flight passengers by Friday
It adds to mounting anger against Ryanair, which already came under heavy fire after cancelling up to 50 flights a day earlier this month.

29 September 2017
Defence Minister on her first 2-day visit to Jammu and Kashmir
Top army commanders will accompany the Defence Minister and together they will review the security situation in Jammu and Kashmir .

29 September 2017
Waiver of Jones Act to Speed Puerto Rico Aid Draws Mixed Reviews
So far, more than a dozen navy vessels, including a hospital ship, have made their way toward the USA territory. Officials are not sure of the numbers but say the city could see the biggest impact in its schools.

29 September 2017
UN Chief Calls For 'Urgent End To Rohingya 'Nightmare'
Survivor Abdus Salam said they came from Mariumpur village on the other side of the Naf river that divides Myanmar and Bangladesh. Nobel Peace Prize laureate Aung San Suu Kyi has faced global criticism for remaining silent on the situation until last week.

29 September 2017
Security flaw in Apple macOS
Apple responded by noting any app attempting to do what Wardle described would require "explicit approval" from the user. Apple is expected to release a fix to the rumored security problems of the macOS High Sierra in the coming days.

29 September 2017
Shortage of nurses in region is 'compromising patient care' says union
Mr Hopson said trusts were "doing all they can" to sustain safe staffing levels "under the most hard circumstances". The RCN is calling for new legislation across the United Kingdom that would guarantee safe levels of staffing.

29 September 2017
The US May Be Sending More Military Equipment To South Korea
Moon also said Seoul should aim for the "early takeover" of the wartime operational control (OPCON) from the U.S. The security official didn't say what form the promised US expansion would come in.



Recommended