Chances are you're familiar with this company, they're among the largest snack food and beverage makers in the world – products include Lay's potato chips, Fritos corn chips, Captain Crunch cereal, Tropicana orange juice and of course their signature soft drink, Pepsi.
"Their input costs include grains, corn syrup, plastics for packaging, as well as gas to power their trucks," Cramer explained. And all these input costs are either moderating or going lower: "Just as important, PepsiCo was able to raise prices for its beverages this quarter."
However, it's not just declining commodity prices that have captured Cramer's interest. He's also very enthusiastic about management. "Indra Nooyi is at the helm and she runs the company incredibly well," he said.