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.

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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.

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