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Investors looking to protect their money with long-term, consumer goods stock that will weather the tumultuous market might do well to look at ConAgra, “ Mad Money ” host Jim Cramer said Monday.
“If you’re looking for safety — and after a day like today, everybody should be searching for a safe-haven — I would buy ConAgra,” he said. “Not only that, but if I were still at my hedge fund, I’d make this a pairs trade, going long ConAgra and shorting Kellogg in order to bet that CAG will outperform K for the foreseeable future.”
Although the company may not be a household name, ConAgra’s products can be found in an estimated 97 of American households. Its brands include Egg Beaters, Healthy Choice, Hunt’s, Orville Redenbacher, PAM and Hebrew National, among others.
Cramer said that the company has always faced a headwind in commodity costs, which could take a big bite out of its bottom line.
But now, things are different.
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