Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, October 21, 2016

Article Excerpt

CONAGRA FOODS INC., $48.01, New York symbol CAG, 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 company has announced more details regarding its plan to set up its Lamb Weston operation as a separate, publicly traded company. Lamb Weston sells frozen potatoes and other vegetable products to restaurants and prepared-food makers. ConAgra will hand out 100% of its Lamb Weston shares to its own investors on November 9, 2016. The new shares will trade on the New York exchange under the “LW” symbol. After the spinoff, ConAgra will change its name to Conagra Brands Inc., but will keep the “CAG” trading symbol. The company has yet to set the exact number of LW shares investors will receive for every CAG share they currently hold. However, shareholders will only pay capital gains taxes when they sell those Lamb Weston shares. After it completes the spinoff, ConAgra plans to buyback $1.25…