Jim Kramer says Coca-Cola is a buy after the company "established a clinic" in its latest earnings report.
Written byTimes Magazine
Jim Kramer explains why he believes Coca-Cola has been a sustainable investment stock since its last earnings report.
"Coca-Cola has opened a clinic that will show you how an experienced management team can tackle almost any challenge you can face. This is the lasting power. It's a great stock to collect," said host Mad Money.
Coca-Cola on Monday reported better-than-expected quarterly earnings and revenue.
"This quarter reminds us that sometimes you want to have the best company in the breed in an unacceptable position. "It's not that Coca-Cola doesn't have problems -- they struggle with the same issues as everyone else -- it's because they can safely navigate through the bush," Kramer said.
He credits Coca-Cola's success for its popular Topo Chico Hard Seltzer, its collaboration with DoorDash, and other efforts to gain market share and bring products to customers.
Coca-Cola saw higher costs for basic supplies such as high-fructose corn syrup and high aluminum. However, Kramer noted that "the good news is that canneries are finally adding capacity after a long abstention, largely due to Covid."
"If we want to get out of this inflationary spiral, we have to see many companies increase capacity, or the Federal Reserve has to destroy the economy. "When it comes to Coca-Cola, it's clear that its suppliers are increasing what matters," he said.
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