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

On Thursday, CNBC’s Jim Cramer offered investors three options for packaged food stocks they can take refuge in as the stock market continues to tumble.

“With commodity prices falling significantly, 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” , did he declare.

All three major indexes 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 saw its worst declines since 2008.

The “Mad Money” host said packaged food stocks are great games in turbulent times and fit today’s market for two main reasons.

“First, commodity prices have already started to crash, and those savings are flowing directly into the bottom line. … Second, almost everyone seems convinced that we’re heading into a recession, and while I’m not not totally convinced, it creates a much better backdrop for Steady Eddie’s packaged food stocks,” he said.

Here are his top three picks:

Third Place: Campbell’s Soup

2nd: Kellogg

1st place: General Mills

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