By Daniel Miller Published November 10, Markets Fool.

Shares of ConAgra Foods NYSE: EST as the market reevaluates the company after it spun off its commercial food Lamb Weston businesses. This has been a long time coming, but today marks the official separation of ConAgra's commercial Lamb Weston business -- which provides French fries and other frozen potato products to fast-food chains.

This is the latest move in a new course for ConAgra as it had previously sold its private-label and spice operations.

Despite management's attempt to focus its business strategy, the problem for me, as a potential investor, is that there doesn't appear to be any competitive advantage. ConAgra's collection of brands doesn't carry enough clout or leverage to hold pricing power with retailers, and thus its consumer-brand profits have lagged those of its competitors. Still, that isn't enough to convince me this is a stock worth buying into.

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