The food group has been an interesting area within the market, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on Monday's CNBC "Stop Trading" segment.
However, Hormel (HRL) is one stock within the sector that caught Cramer's eye. Hormel is a "growth food stock," he said, and it is worth watching to see if money begins to flow back into the stock.
Shares are up more than 2% on the day and almost 10% over the past three trading sessions. However, the stock is still down more than 8% since April 1.
Cramer pointed out the stock was upgraded to outperform from neutral at Credit Suisse. The analysts assigned a $43 price target, implying upside of roughly 8% from the current price.
The consumer-packaged good stocks have "completely stalled," he added, and fast-food stocks aren't doing that well either. Obviously the delayed earnings and accounting concerns from Hain Celestial (HAIN) came as a huge surprise and letdown, Cramer said.
However, if Hormel shares are able to rally, perhaps it will start to bring investors back to the group, he concluded.