5 Best Food Dividend Stocks to Buy Now

2. Conagra Brands, Inc. (NYSE:CAG)

Dividend Yield as of November 2: 3.68%

Conagra Brands, Inc. (NYSE:CAG) is a consumer packaged goods holding company, headquartered in Chicago, US. Deutsche Bank appreciated the company’s fiscal Q1 earnings and its portfolio construction and margin recovery. The firm raised its price target on the stock in October to $33 with a Neutral rating on the shares.

In fiscal Q1 2023, Conagra Brands, Inc. (NYSE:CAG) reported revenue of $3 billion, which showed a 9.4% growth from the same period last year. The company’s operating cash flow came in at over $263.7 million, compared with $140 million during the same period last year. It also paid $150 million to shareholders in dividends during the quarter.

On October 5, Conagra Brands, Inc. (NYSE:CAG) declared a quarterly dividend of $0.33 per share, in line with its previous dividend. The company has been growing its dividends consistently for the past three years. As of November 2, it has a dividend yield of 3.68%.

The number of hedge funds tracked by Insider Monkey owning positions in Conagra Brands, Inc. (NYSE:CAG) stood at 30 in Q2 2022, up from 22 in the previous quarter. The stakes owned by these hedge funds have a consolidated value of over $603.4 million.