The stocks he sold, such as Amgen and ConAgra Foods are traded at all-time highs.
Analysts generally think investors should stand pat on ConAgra, with seven of 12 analysts rating it hold.
ConAgra has already noted it expects a harder fourth quarter, forcing the company to soften its EPS outlook.
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Perhaps things between Ralcorp and ConAgra will get more mannerly with Meister around.
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Willis Stein subsequently sold the business to ConAgra (NYSE:CAG), which still owns it.
ConAgra and DuPont tried a PLA venture in the mid-1990s, but failed to get the biochemistry right in early tries.
Anglo-Dutch consumer products conglomerate Unilever recently completed the sale of its North American frozen meals business to ConAgra.
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Packaged foods maker ConAgra Foods produces a diverse product set from Healthy Choice packaged meals to Slim Jim beef jerky.
The result: a quiet long-term decline, in the multiples of branded-food biggies like General Mills, ConAgra ( CAG) and Kraft ( KFT).
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In corporate news, a nearly 60% drop in profit sank Conagra shares.
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ConAgra was forced to hike prices on its commercial foods as well.
FORBES: Ominously High Input-Cost Inflation Hits ConAgra, Could Spread
ConAgra's spokesman says it has no plans to pursue the glatt market.
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Elsewhere, ConAgra Foods reported notably higher profit than analysts had expected, thanks in part to commodity hedging, sending its shares higher.
However, if you look at the way the market has historically valued ConAgra, we think it looks like the stock remains under appreciated.
ConAgra reported earnings of 47 cents per share, excluding costs related to hedging higher commodity prices, over the analyst estimate for 43 cents per share.
ConAgra Foods (CAG) reported on Tuesday that fiscal second quarter net income fell 15 percent mainly due to higher ingredient costs, but results beat expectations.
Ralcorp, you might recall, rejected without negotiation unsolicited bids from ConAgra ( CAG) and adopted several measures to make further takeover attempts less likely.
FORBES: Is the Market Giving Keith Meister's Ralcorp Gambit Enough Credit?
Analyst sentiment about ConAgra has waned during the last three months.
ConAgra Foods (CAG) narrowly beat earnings expectations, though sales fell short.
So ConAgra revived its Banquet frozen food brand by reformulating the meals to make them more nutritious while also taking out costs to keep the price affordable.
At the same time, ConAgra will probably begin to slow.
FORBES: Ominously High Input-Cost Inflation Hits ConAgra, Could Spread
ConAgra Foods ( CAG), for example, recently reported that its fiscal second-quarter profit fell 16%, largely because commodity prices rose while at the same time consumers were more budget-conscious.
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The publication noted that Ralcorp rejected multiple takeover attempts from ConAgra (CAG) this year, but quoted an investor who thinks Ralcorp could still be an acquisition target, particularly after the divestiture.
ConAgra has already been passing prices on to consumer.
FORBES: Ominously High Input-Cost Inflation Hits ConAgra, Could Spread
More than a dozen law firms that took on tobacco firms in the last decade now have filed suits against companies like ConAgra and PepsiCo, charging them with misleading labeling and health claims.
Then, you can assume that food companies like Kraft Foods Group, Mondelez International and General Mills, as well as the likes of ConAgra and Kellogg, would in turn raise their prices.
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Yet another possibility is to set up a co-operative through which local ranchers and feeders can earn money from every stage of production, as is done by the three big corporations in the business, Iowa Beef Processors, ConAgra and Excel.
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Among the largest underlying components of SPLV, in trading today General Mills, Inc. ( NYSE: GIS) is down about 0.3%, ConAgra Foods, Inc. ( NYSE: CAG) is up about 0.3%, and Mondelez International Inc ( NASD: MDLZ) is lower by about 0.8%.
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