Shares of AutoZone (AZO) - Get Report  are up 5% thus far in 2016, outpacing the S&P 500 by a healthy six percentage points. Nevertheless, shares of the auto parts distributor are still not overvalued at 17 times Wall Street's next year's estimated earnings because the company continues to grow, said Ernesto Ramos, head of equities for BMO Global Asset Management.

"They are penetrating not just the consumer fixing his or her at home, but they are also selling to repair shops, so that is how they are growing their business," said Ramos.

Ramos' BMO Low Volatility Equity Fund is up 3.8% thus far in 2016, according to fund-tracker Morningstar. The $111 million fund has returned 2.3% over the past year, outpacing 92% of its peers in Morningstar's large-cap value category.

Costco (COST) - Get Report  trades at 25 times Wall Street's 2017 earnings forecast, but Ramos is equally bullish on the retailer, despite the fact that its shares have fallen 7% year-to-date.

"They are breaking into a lot of markets, for example, they sold 465,000 new cars last year through partnerships they have with dealers and a lot of people are not aware of that," said Ramos. "They sell at very low prices and make a lot of money on subscriptions alone."

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Cramer said last week that he's also quite bullish on Costco, despite its weaker-than-expected comparable store sales in March.

"If you have not bought Costco, this is your chance," Cramer said in an April 7 article.

Ramos also likes McDonald's (MCD) - Get Report , which is up 8% in 2016 and over 30% in the past 12 months. The fast food giant rejuvenated its sales by serving breakfast all day and Ramos is confident it will find another way to keep growing. 

"They are introducing gourmet burgers and trying out new things," said Ramos. "And it's very well insulated from cyclicality, people eat McDonald's hamburgers no matter what the economy is doing."

Finally, Ramos said shares of Verizon (VZ) - Get Report  can keep moving upward despite the stock's impressive 12% run this year.

"They are branching out into content. They bought AOL and might buy Yahoo! (YHOO) ," said Ramos. "They have 138 million subscribers in the U.S. alone. It's a rich cash flow positive business."