Conagra Brands, Inc. (NYSE:CAG) is one of the stocks that Jim Cramer looked at. When a caller inquired about the company, Cramer commented:
“Conagra, okay, here’s what’s going to happen with Conagra: In the next two days, Conagra’s going to be up because we’re involved in a rotation, and then on day three, I think you’d want to exit stage right on Conagra.”
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Conagra Brands (NYSE:CAG) produces and sells a wide range of packaged food products, including shelf-stable, refrigerated, frozen, and customized items for retail and foodservice. The company markets its products under well-known brands like Birds Eye, Healthy Choice, and Slim Jim. On July 11, Cramer suggested against buying the company stock, as he said:
“Very tough, very tough situation. Conagra’s got 7% inflation. They got problem with tin cans. They can’t, it’s killing them… The margins aren’t that good. The brands aren’t enabling them to be able to take any price. I have to tell you, the one thing that was important was that, on the conference call, they did say that they think they have no problem paying the dividend. A company that has to answer about whether it has a problem paying the dividend or not is a company that I say [don’t buy, don’t buy, don’t buy].”
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Disclosure: None. This article is originally published at Insider Monkey.