NEW YORK (TheStreet) -- ConAgra Foods (CAG) - Get Report shares are down 1.75% to $42.67 in early-market trading on Tuesday following the release of the packaged food company's fourth quarter financial results before the opening bell today.

The company reported fourth quarter earnings of $209.2 million, or 59 cents per diluted share on revenue of $4.1 billion.

Analysts on average were expecting company to report earnings of 59 cents on revenue of $4.14 billion.

Separately, the company announced that it is planning to sell some of its struggling store food brands just two years after spending $5 billion to increase its presence in the sector by purchasing private-label food maker Ralcorp.

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TheStreet's Jim Cramer, portfolio manager of the Action Alerts PLUS charitable trust, believes that ConAgra could eventually become a takeover target:

"I think Treehouse Foods  (THS) - Get Report buys this business and turns it around-it has been doing quite poorly in it and this is a great opportunity if THS gets it," Cramer said.

TheStreet Ratings team rates CONAGRA FOODS INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:

"We rate CONAGRA FOODS INC (CAG) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. Among the primary strengths of the company is its solid stock price performance. At the same time, however, we also find weaknesses including deteriorating net income, generally higher debt management risk and disappointing return on equity."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

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