In short: "Just cut its dividend" — a big yield that "was not sustainable"; evidence that staples/CPG is "a very tough area" where dividend cutting has started.
Conagra makes packaged foods (Birds Eye, Healthy Choice and similar supermarket brands). It just cut its dividend. D'Agnes uses it as proof that packaged food and consumer products are a "very tough area" where companies can no longer grow enough to fund their payouts, so their high yields are warnings, not opportunities.
25:10You asked earlier, I didn't really answer it, but what are you avoiding? You know, staples, CPG has been a tough area. Consumer products type companies, very tough area. And we're starting to see dividend cutting activity there. And these high yields that some of these great American companies now offer, you would think so attractive, right? But I just mentioned Kagra just cut its dividend.
In short: Another bombed-out staple in the covered-call / cash-secured-put income basket — held for the dividend and repeated short-dated option premium on a name that barely moves. Personal income strategy, kept out of the AIA Portfolio.
Conagra (Birds Eye, Slim Jim, Marie Callender's) rounds out the same bombed-out-staples income basket. He owns the shares for the dividend and, more importantly, to sell covered calls and cash-secured puts against a name that doesn't swing much — turning a dull, cheap stock into a steady stream of option premium. A personal income strategy, not an AIA pick.
In short: Grouped with Campbell and Kraft Heinz as "very bad businesses" — packaged-food value traps losing shelf-space power to healthier upstarts.
32:42levels on it. Who why would you even drink that eat that stuff? So, so I think that it's it's not a good company to buy. I think you're in a very kind of value trap with those businesses. I think they're they're just very difficult businesses like all snack cuz it's Kagra Craft Hinder terrible. Yeah. They're all very bad businesses.
In short: Named with General Mills/Kraft Heinz as the over-bearish, momentum-suppressed packaged-food staples he expects to mean-revert into the quarter-end unwind.
ConAgra is another packaged-food maker in the same oversold-staples basket — momentum-suppressed and over-bearish, a mean-reversion candidate into the quarter-end unwind.
51:13Okay, you think like even, you don't think it's like, so take Kraft Heinz, take General Mills, take Campbell's, is like another structural change that just like everybody's on Ozempic and nobody eats these kind of packaged foods anymore? I hear you, and what happens in all bear markets is they come up with these — Wall Street comes up with these reasons to hate uranium stocks at the lows, right? Oh, Fukushima. Every single time there's value or an opportunity, the consensus of all the research
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