J.M. Smucker (SJM) - Get Report shares jumped close to 8% Thursday after the company beat on earnings and reported revenue in line with expectations.
This was a "remarkable quarter" and the company's margins expanded, too, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Stop Trading" segment. Smucker stock is now up 20.5% on the year and up nearly 100% over the past five years.
J.M. Smucker SJM data by YCharts
Consumers love coffee, Cramer said, and that gave sales a boost at Smucker's Folgers brand.
Cramer said investors are gravitating towards consumer packaged-goods companies that have growth, and J.M. Smucker is one of those companies along with Hormel Foods (HRL) - Get Report .
Cramer also praised J.M. Smucker for its "great" acquisition of Big Heart Pet Brands, owner of brands such as Meow Mix, Milk-Bone and Kibbles 'n Bits, among others. He said this gives Smucker's a way to gain exposure to the growing and lucrative pet food market, Cramer explained.
At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.
