Considering how tough the market has been lately, Cramer on Friday said investors should look for stocks that pay them to wait until things get better. In other words, he recommends high-yielding stocks right now.
General Mills is "as recession resistant as it gets," Cramer said. The stock's 3.1 percent dividend yield is not as high as other stocks he's drawn attention to lately, but Cramer said GIS is a lot more consistent than just about anything out there. In fact, it was one of few companies this week that said things could actually get better.
The Minneapolis-based food company reported a strong quarter on Wednesday. For a long time, higher commodity costs were hurting the company. It had tried to pass those costs onto the consumer by way of increasing prices, but that cause volumes to decline by 3 percent. In the last few days, though, commodity prices have fallen. That's good news for General Mills, Cramer said. If commodity prices can stay down, which they will if the economy falls into a recession, General Mills will benefit. Cramer added that people don't stop buying cereal in down economic times, so he thinks General Mills will continue to do well.
"Things are looking up for [General Mills]. No doubt about it, as the commodity prices that have been eating into their margins finally decline," Cramer said. "This is a company with a juicy dividend that pays you to wait for things to get better and they're getting better right now."
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