CNBC's Jim Cramer on Friday told investors which packaged food stocks might be good additions to their portfolios, especially if the economy is headed for a slowdown.on Friday named packaged food stocks that might be good additions to portfolios, especially if the economy is headed for a slowdown.
Cramer said he thinks Campbell Soup and J.M. Smucker both told"compelling" stories this week, but that he prefers the former. According to Cramer, Campbell Soup reported solid earnings but weaker guidance, due in part to its pricey acquisition of pasta sauce maker Sovos Brands. He suggested the acquisition will pay for itself over time and was encouraged that the company seems to be growing sales without raising its prices.
J.M. Smucker's sales were softer than expected, but Cramer was heartened that the company managed to pull off a sizeable earnings beat. He also noted that J.M. Smucker's brands were growing well, like Uncrustables sandwiches and pet food, but said it needs to improve its coffee business. "Ultimately, I feel incrementally more positive on the packaged food space after hearing from Campbell's and Smucker," he Cramer said."For those two stocks specifically, I do prefer Campbell's … but Smucker still has a good value proposition."Sign up now
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