Cramer Removes ConAgra from His Sell List

On last night's Mad Money, Jim Cramer removed shares of ConAgra (NYSE: CAG) from his "Sell Block", saying the stock should continue doing better as the company's operations improve given drastically lower commodity prices.

Cramer added ConAgra to his sell list on June 12, when the stock was trading around $23. With shares of ConAgra trading around $17.19 today, Cramer would have saved shareholders about 25% if they would have listened to his Sell, Sell, Sell recommendation.

Jim said he is now starting to see shares of ConAgra as attractive on the back of raw costs which have "taken a turn for the better". Further, Cramer points out that Wal-Mart (NYSE: WMT) is currently one of ConAgra's largest customers, adding another positive theme to the stock. Lastly, trading at just 10x its expected earnings, ConAgra's 4.42% dividend yield is "being covered by its cash flow."

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