Pepsico reported a lower quarterly profit Thursday, hurt by higher costs, and stood by its full-year outlook, and rightly so according to Mad Money host Jim Cramer.
"Pepsi's quarter was magnificent," Cramer said on Thursday's Stop Trading! "This is the premiere snack food company in the world."
It's one of the best plays on the middle class, Cramer said. "When they have money they start snacking," he said.
The drink and snack maker said Thursday that net income was $1.14 billion, or 71 cents per share, in the first quarter, compared with $1.43 billion, or 89 cents per share, a year earlier. Revenue rose to $11.94 billion from $9.37 billion.
Cramer said the company has, under Indra Nooyi's leadership, positioned itself to be the dominant snack company worldwide.
"You are now seeing the fruits of what I think will be a multi-year move for this company," he said. "Not this quarter, and then next quarter forget about it. This is a very inexpensive stock."
Cramer also likes Express Scripts.
"Three days ago, I thought this thing was the end of the world. It was trading at $50, now it's above where it was when it reported one of the most dramatic misses of the quarter," Cramer said. "We bought some for the charitable trust the other day. Didn't think it was as bad as it looked, but I didn't think it was as good as it looks."
Cramer talks with Dan Hesse, CEO of Sprint Nextel , Rick Goings, Chairman and CEO of Tupperware Brands , and Rich Kinder, Chairman and CEO of Kinder Morgan . It all starts at 6 p.m. ET.
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