So what's Neubert doing with his ConAgra?
I just keep holding my position. After the company lowered the dividend my yield is only 2.8%, but earnings are turning around and I'm looking at a p/e under 20. If the stock were to go up much more ($27.00-$30.00) I'd definitely start selling, but I wouldn't sell everything. I still think ConAgra Foods could be nicely managed (owned) by Kraft Foods (KFT) ($33.44). And with Kraft Foods on the rise, their currency keeps looking better relative to ConAgra (see Kraft Foods May Go On a Value-Creating Acquisition Spree)
Disclosure: I own Conagra. I bought it as a value play and it has proven to stay value and really lagged the market. I may sell Conagra, as described above. I have eaten Chef Boy Ardee Ravioli (A product of Conagra). I stopped at a dinner next door to the Chef Boy Ardee Factory in Milton, PA on my recent cross country drive (see photo). Canned Ravioli is great while camping. I own Kraft Foods (KFT) and am also short 32.50 strike puts in KFT.
CAG 1-yr chart