NEW YORK (TheStreet) -- Shares of PepsiCo (PEP) - Get Report were gaining in mid-morning trading on Thursday after the beverage and food company posted better-than-anticipated results for the 2016 third quarter.

"Pepsi looked great," TheStreet's Jim Cramer said on CNBC's "Squawk on the Street" this morning.

The company "is very little soda. It's 12% of soda. And Coca-Cola (KO) is maybe five times that. So when you're snack food worldwide, people love it. That's where the money is," Cramer added.

In April, CEO Indra Nooyi said that 12% of the company's global sales come from soda.

PepsiCo's other brands include Frito-Lay, Gatorade, Quaker, Sabra Hummus and Tropicana.

"These are almost billion dollar brands. The sustainability side of PepsiCo is really unbelievable. No one's talking about it," Cramer noted.

Additionally, PepsiCo's CFO Hugh Johnston joined "Squawk on the Street" this morning to discuss the quarterly results.

Cramer asked Johnston about the company's growth brands, specifically its cold-pressed juices and Pure Leaf teas.

"Are these now just growth categories after years where people just said well cold press is too niche and tea is to prosaic?" Cramer asked.

"I think they are growth categories. The consumer is looking at products like Naked (juice) a little differently than perhaps they've looked at traditional juice products," Johnston said.

"They almost think of them often times as a mini meal...where you're looking for a couple of hundred calories of a really sustained healthy type of food. The same certainly goes with tea. Our Lipton Pure Leaf tea business is absolutely on fire," Johnston added.

(PepsiCo is held in Jim Cramer's charitable trust Action Alerts PLUS. See all of his holding with a free trialhere.)

Separately, TheStreet Ratings Team has a "Buy" rating with a score of A on the stock.

The company's strengths can be seen in multiple areas, such as its solid stock price performance, increase in net income, notable return on equity, expanding profit margins and good cash flow from operations.

The team believes its strengths outweigh the fact that the company has had generally high debt management risk by most measures that were evaluated.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: PEP

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