Conagra Brands, Inc. (NYSE:CAG) is one of the stocks highlighted in Jim Cramer’s latest Mad Money recap as he provided top stock insights. Toward the end of the lightning round, responding to a caller’s question about the stock, Cramer said:
Conagra’s tough. I never buy a stock just for its yield. Conagra’s got a big yield, but I don’t want to go there.
A stock market chart. Photo by Arturo A on Pexels
Conagra Brands, Inc. (NYSE:CAG) makes packaged foods, including pantry staples, frozen meals, and snacks. Some of its well-known brands include Marie Callender’s, Slim Jim, Birds Eye, and BOOMCHICKAPOP. Cramer mentioned the stock during the March 12 episode and said:
Conagra’s been a nightmare of a stock, even as the company’s put together a terrific family of brands, navigated a tough situation as best it could. At the same CAGNY conference I just referenced, Conagra reaffirmed guidance, but still said it sees full year sales at +1 to -1%. Not enough to get anyone excited. A year ago, Conagra was a $26 stock. Now, it’s a $16 stock. Sure, it has an 8.25% yield, but only because the stock’s been beaten down to such a low level, not because it keeps boosting its payout by leaps and bounds.
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