NEW YORK (TheStreet) -- ConAgra Foods (CAG) shares are down -3.6% to $29.36 on Thursday after the company lowered its fourth quarter guidance.
The packaged food company pointed to a 7% drop in consumer foods and private brands volume as a reason that it will experience a $60 million year-over-year quarterly decline in the fourth quarter.
Additionally, CEO Gary Rodkin reportedly sold 50,000 shares of the company at an average price of $32.44 per share for a total value of $1.62 million.
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ConAgra Foods shares are down -8.6% for the week.
TheStreet Ratings team rates CONAGRA FOODS INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate CONAGRA FOODS INC (CAG) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, compelling growth in net income, attractive valuation levels and good cash flow from operations. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."