CONAGRA FOODS INC. $27 - New York symbol CAG

CONAGRA FOODS INC. $27 (New York symbol CAG; Income Portfolio, Consumer sector; Shares outstanding: 412.6 million; Market cap: $11.1 billion; Price-to-sales ratio: 0.9; Dividend yield: 3.6%; TSINetwork Rating: Above Average; www.conagrafoods.com) is paying an undisclosed sum for the Canadian operations of Del Monte Foods. This business makes packaged fruits, fruit snacks and vegetables under the Del Monte brand, as well as canned tomato products under the Aylmer label.

The new operations look like a nice fit with ConAgra’s existing operations in Canada, and will add $150 million to its annual sales of $12.8 billion.

ConAgra is a buy.

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