Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, November 11, 2016

Article Excerpt

CONAGRA BRANDS INC., $34.93, New York symbol CAG, is the new name for ConAgra Foods Inc. following this week’s spinoff of its Lamb Weston subsidiary (see below) as a separate, publicly traded firm. Conagra makes packaged foods, including Chef Boyardee canned pasta, Hunt’s tomato sauce, Peter Pan peanut butter, Orville Redenbacher popcorn and Reddi-wip whipped cream. The new firm has annual revenue of $8 billion. It aims to pay out 45% to 50% of its earnings before unusual items as dividends. Conagra expects to earn $1.65 to $1.70 a share in the fiscal year ending May 31, 2017, so the likely annual dividend of $0.80 would yield 2.3%. OUR RECOMMENDATION: Conagra Brands is a buy. Conagra Brands recent coverage Hotline for October 21, 2016 Hotline for September 30, 2016 LAMB WESTON HOLDINGS INC., $29.89, New York symbol LW, sells frozen potatoes and other vegetable products to restaurants and prepared-food makers. It has annual sales of $3 billion. Under the terms of the spinoff from Conagra, investors…