CMP: $32

ConAgra Foods, Inc. manufactures and markets packaged foods for retail consumers, restaurants and institutions. The Company offers a wide range of food products, including meals, entrees, condiments, sides, snacks, specialty potato products, milled grain ingredients, dehydrated vegetables and seasonings, and blends and flavors.

ConAgra Foods is a $13 Billion market cap company trading at a P/E of 20. Revenues have risen from $12 Billion to $13.26 Billion in the last 2 years. Profits have dipped from $613 Million to $468 Million in the last 2 years. Profit margins have dipped from 5% to less than 4% in the last 2 years. Recent quarter results have bounced back nicely in the bottom line. With balanced long term debt, it looks a decent bet.