Analyst Likes This ‘Beaten Down’ Dividend Stock With 7% Yield

We recently published Top 10 Trending Stock Ratings and Calls as Tom Lee Says Latest Selloff is a Buying Opportunity. Conagra Brands Inc is one of the top trending stock ratings and calls.

Peter Boockvar, CIO at One Point BFG Wealth Partners, recently talked about Conagra Brands Inc latest earnings call, where the company’s management discussed consumer-related challenges. However, the analyst, during a program on CNBC, said he likes the stock amid the company’s ability to capture low-income consumers and valuation.

“If you take this further, their frozen foods are doing well—take a frozen meal you’d find at a supermarket. If you can get a meal for five or six dollars, it becomes more appealing, and their frozen food business is growing. In the snack business, which is considered a discretionary category, one area performing well is beef jerky under their Slim Jim brand, which rose 4% in that segment. Overall, it’s a mixed bag for the business. However, stocks in the consumer products and food sector have been heavily beaten down due to commodity and volume pressures. Despite that, the stocks are very cheap and offer generous dividend yields, making them attractive purchases in a highly valued market.”

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This article is originally published at Insider Monkey.