Before Thursday’s opening bell, ConAgra Foods (CAG) released its second quarter financial results. Here’s what the results mean for mutual fund investors.

Inside the Results

Earnings

The company reported earnings of $26.6 million, or 5 cents per share, down from $210.4 million, or 48 cents per share, a year ago. Excluding special items, earnings were 61 cents per share, up from 56 cents per share last year. On average, analysts expected to see EPS of 61 cents per share.

Revenue
Sales dipped to $4.15 billion from last year’s $4.22 billion. Analysts expected to see revenue of $4.20 billion.

Low Volatility and Steady Yield

ConAgra Foods is a solid food play with a steady dividend yield that is nearly 3%. Despite its attractive dividend yield, the company has not increased its dividend since 2012. Conservative investors are attracted to this stock due to its low volatility. Looking ahead to 2015, the company may benefit from falling energy prices.

Mutual Funds to Watch

Investors interested in CAG may also consider the following mutual funds as an alternative to investing directly in the stock. The funds below currently hold the largest stakes in the company.

The Bottom Line

The funds listed above offer investors a stake in CAG while remaining diversified. Investors interested in CAG may also be interested in Tyson Foods (TSN).

Shares of CAG are up 10% YTD.