CONAGRA FOODS INC. $31 - New York symbol CAG

CONAGRA FOODS INC. $31 (New York symbol CAG; Income Portfolio, Consumer sector; Shares outstanding: 422.5 million; Market cap: $13.1 billion; Price-to-sales ratio: 0.7; Dividend yield: 3.2%; TSINetwork Rating: Above Average; www.conagrafoods.com) has paid $93 million for Chinese potato producer TaiMei Potato Industry Ltd.

This is ConAgra’s first potato-processing facility in China. The purchase will help the company increase sales of its Lamb Weston frozen potato products in China and other parts of Asia.

ConAgra is a buy.

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