Jim Cramer on Conagra Brands: “I Don’t Want to Go There”

Conagra’s tough. I ne'er bargain a banal conscionable for its yield. Conagra’s got a large yield, but I don’t privation to spell there.

A banal marketplace chart. Photo by Arturo A connected Pexels

Conagra Brands, Inc. (NYSE:CAG) makes packaged foods, including pantry staples, frozen meals, and snacks. Some of its well-known brands see Marie Callender’s, Slim Jim, Birds Eye, and BOOMCHICKAPOP. Cramer mentioned the banal during the March 12 occurrence and said:

Conagra’s been a nightmare of a stock, adjacent arsenic the company’s enactment unneurotic a terrific household of brands, navigated a pugnacious concern arsenic champion it could. At the aforesaid CAGNY league I conscionable referenced, Conagra reaffirmed guidance, but inactive said it sees afloat twelvemonth income astatine +1 to -1%. Not capable to get anyone excited. A twelvemonth ago, Conagra was a $26 stock. Now, it’s a $16 stock. Sure, it has an 8.25% yield, but lone due to the fact that the stock’s been beaten down to specified a debased level, not due to the fact that it keeps boosting its payout by leaps and bounds.

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