Jim Cramer on Procter & Gamble: "I'm Glad We Bought This One Ahead for the Charitable Trust"

The Procter & Gamble Company (NYSE:PG) is one of the stocks Jim Cramer shared his take on. Cramer discussed why he and his team picked the stock for the trust. The Mad Money host remarked:

… I think most importantly, I liked this new Procter management, including the new CEO, Shailesh Jejurikar. And I gotta tell you, I was blown away by some of the things that he said about what happened in this very quarter and his full investment in the business… Look, it really helps that it, I think Procter’s pulling away from its competitors while putting the company in a position to take market share so they can do even better when the industry bounces back… So let me give you the bottom line here: Even though Procter’s quarter was not so hot, this was a stock that most people on Wall Street had given up on. So even mediocre results were enough to send the stock flying today. And look, when a stock rallies on a seemingly disappointing quarter, it’s a textbook tell that it’s got a lot more room to run. I’m glad we bought this one ahead for the Charitable Trust…

We picked the stock of Procter & Gamble for the trust because it has a long history of innovation, improvement, and execution. We knew it had a solid dividend, one of the best dividends in the entire market, serves as a trampoline if the stock goes low enough. Before the quarter’s release, Procter had been adamant that they were going to miss the numbers. It was very well telegraphed. The disappointment occurred beforehand… So when we saw the numbers today, it didn’t matter. Best of all, Procter has a new CEO. This would be his inaugural quarter, so he didn’t own the previous CEO’s mistakes.

The Procter & Gamble Company (NYSE:PG) provides branded consumer goods across beauty, grooming, health care, home care, and family care. The company sells its products through renowned names such as Tide, Pampers, Gillette, Crest, Olay, and Febreze.

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