On Apr 12, we issued an updated research report on premium consumer goods firm ConAgra Foods, Inc. CAG. The company is one of the leading food companies in North America. Serving grocery retailers, restaurants and other foodservice establishments, the company has its brand presence in 97% of American households.Bullish ElementsConAgra successfully divested the Private Brand segment and received more than $2.6 billion from the sale at the end of third-quarter fiscal 2016. These proceeds, in turn, have been deployed to lower the company’s debt level by $2.15 billion and would finance future capital deployment programs. Moreover, the company is improving the margins on the back of better price/mix and greater operational efficiency. Additionally, ConAgra aims to grow on the back of greater segmentation of its portfolio, product innovations and efficient marketing strategies. The company also follows an acquisition-based growth strategy for generating higher revenues in the long run.Bearish FactorsThe highly competitive industry in which ConAgra operates reduces its price control, thereby exposing it to the risks of market share loss as well as decline in sales and operating margins. Moreover, the raw materials used by the company are subject to market fluctuations, supply-demand inconsistency and change in governmental agricultural programs. These factors continue to raise the costs, thereby affecting the company’s operations. To add to the woes, the appreciating U.S. dollar is currently eroding the Zacks Rank #3 (Hold) company’s international revenues and margins.Stocks to ConsiderSome better-ranked stocks in the industry are Campbell Soup Company CPB, Amplify Snack Brands, Inc. BETR and Darling Ingredients Inc. DAR. All the three stocks carry a Zacks Rank #2 (Buy).Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CONAGRA FOODS (CAG): Free Stock Analysis Report CAMPBELL SOUP (CPB): Free Stock Analysis Report DARLING INGRDNT (DAR): Free Stock Analysis Report AMPLIFY SNACK (BETR): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research