Jim Cramer says investors can hide in these three recession-proof packaged food stocks

CNBC’s Jim Cramer on Thursday gave investors three options for packaged food stocks they can seek refuge in, as the stock market continues to seesaw.

“With commodity costs coming down big, the food stocks can become recession-proof safe-havens. But you have to be selective, which means sticking with the winners that we know are doing well,” he said.

All three major indices fell on Thursday, the last day of the second quarter. The Dow Jones Industrial Average and S&P 500 had their worst quarters since the first quarter of 2020, while the Nasdaq Composite had its worst declines since 2008.

The “Mad Money” host said that packaged food stocks are great plays during turbulent times and fit the current market for two main reasons.

“First, commodity prices have already begun to collapse, and those savings flow right to the bottom line. … Second, nearly everybody seems convinced that we’re headed into a recession, and while I’m not totally convinced, that creates a much better backdrop for the Steady Eddie packaged food stocks,” he said.

Here are his top three picks:

Third Place: Campbell Soup

2nd Place: Kellogg

1st Place: General Mills


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