Jim Cramer Says Food Stocks Like Kellogg, PepsiCo Want to Go Higher
TheStreet’s Jim Cramer said Kellogg’s(K) is ‘unstoppable’ and the entire food group wants to go higher.
TheStreet’s Jim Cramer said Kellogg’s (K) is ‘unstoppable’ and the entire food group wants to go higher. Cramer said Campbell’s (CPB) and General Mills (GIS) have seen an amazing turnaround, and Hormel (HRL) has also reinvented itself. ‘This whole group is just drawing a lot of money,’ said Cramer. ‘Some of it is because the raw costs have come down a great deal. That’s why we like PepsiCo (PEP) for Action Alerts PLUS.’ Cramer also said investors are gravitating to food stocks because of increased recession risk, but that’s not something he’s worried about. Other food stocks that Cramer believes could go higher are McCormick (MKC), Tyson’s (TSN) and Smucker’s (SJM). Cramer is portfolio manager of the Action Alerts PLUS charitable trust.
