Jim Cramer Says Hershey is "One of the Few Food Stocks That Are Doing Well"

The Hershey Company (NYSE:HSY) is one of the stocks Jim Cramer shed light on. A caller inquired after Cramer’s feelings on the stock, and he said:

“Okay, I think Hershey is, is in [an] unassailable position, in that commodity prices are, you know, I think cocoa’s peaked. What matters is that no one’s ever come in to beat these guys. A lot of people want to be in it for a takeover. Forget the takeover. It’s more of an earnings play. It’s one of the few food stocks that are doing well. I think that can continue.”

The Hershey Company (NYSE:HSY) produces and sells confectionery, snacks, gum, mints, protein bars, and pantry items under brands such as Hershey’s, Reese’s, Kit Kat, Jolly Rancher, SkinnyPop, and Dot’s Homestyle Pretzels. Cramer discussed the company in a July episode, as he commented:

“If you really want overlooked, there’s the other side of the story, Hershey, down big yesterday and today. I get it. They’re losing the steady hand of CEO of Michele Buck and getting Tanner, who only spent about a year and a half at Wendy’s, where he departed. Even though Tanner originally had a consumer packaged goods background, he’d been in PepsiCo for 32 years before Wendy’s, it always raises eyebrows when a CEO flees a struggling company to work somewhere else in a hurry.

Plus, Tanner was the guy who brought dynamic pricing, where they jack up prices in periods of high demand to fast food. Well, that didn’t go down well. The other reason Hershey’s getting hit, if you were hoping for a takeover here, hiring this new CEO seems to take that off the table. It was a clarion call to sell. And if you didn’t get out when it was announced because you were busy paying only attention to the president, you may have caught a 14-point decline, and you want to avoid a 14-point decline all the time. That’s hazardous.”

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Disclosure: None. This article is originally published at Insider Monkey.