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Sometimes, when Jim Cramer is looking for a solid domestic stock that taps into everything good that is happening in the market right now, he doesn't have to look too far. It could be sitting right under your nose, or in your local mall.
Cramer has reignited his passion for the Cheesecake Factory and finds it ridiculously easy to love this kind of a stock right now.
The "Mad Money" host is naturally up at 3:30 a.m. to monitor China's PMI, S&P Futures, Euro zone news on Greece and any other newsworthy event that could impact the day. Yet, when Cramer walks by the Cheesecake Factory in his local mall—patrons certainly are not worried about these things. They simply want a good food in a clean restaurant that has delicious cheesecake.
"I say you get what you pay for, and with Cheesecake you get a good tasting meal, and a great tasting stock. Quite an antidote to the craziness that happens overseas between 3:30 and 5:30 every morning of our investing lives," Cramer added.
Cheesecake Factory released earnings on Wednesday, and Cramer was drooling over the stock afterward. It delivered 4.2 percent comparable-store sales growth, which was much better than analysts expected. Additionally, costs were under control, as it reaped the benefit from lower natural gas costs that usually eat up a chunk of operating costs.
The company plans to take the additional operating profits and open 11 more stores, bringing the total number of locations to 200. It also plans to buy back more stock, even after it just bought back 1.7 million shares. The company still has 49 million shares outstanding, which is significantly less than the 58.9 million from five years ago.
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"You could argue the company, not getting the valuation it deserves, is taking itself private over time," Cramer speculated.
And while the stock isn't exactly cheap, trading at 22 times earnings, it has all of its ducks in a row to be a power house. It benefits from being a domestic stock with lower costs, higher sales, better profits and is a direct beneficiary to lower gasoline prices, higher employment and has no strong dollar headwinds.
This kind of stock should be the easiest kind there is to own out there, considering what is cooking up in the U.S. right now. Cramer is eager to take a slice out of the Cheesecake Factory, which could flavor both your portfolio and your palate.