Jim Cramer Likes Four Consumer Staples Stocks Beyond Tech

According to CNBC, Jim Cramer said Friday that investors looking beyond tech should consider consumer staples, naming Kimberly-Clark, Procter & Gamble, Constellation Brands and Coca-Cola. The Nasdaq-100 ended October down almost 7%, while the S&P 500 Equal Weight gained roughly 5% and the consumer staples index surged 11.4%. Kimberly-Clark shares gained nearly 11% in October and trade at less than 15 times earnings, with a 4.7% dividend yield. Cramer sees potential benefits from its pending merger with Kenvue, including greater efficiencies. Procter & Gamble shares rallied 11% in October after better-than-expected quarterly results last week; Cramer also expressed confidence in new CEO Shailesh Jejurikar. Constellation Brands shares surged 20% in October. Its core beer business gained market share, while its wine and spirits division reported 15% shipment growth last quarter. The stock trades at roughly 11 times earnings and yields more than 3%. Coca-Cola shares gained 9% in October after a strong quarterly report on Tuesday, driven by higher volume rather than price increases. Cramer also cited the company’s zero-calorie beverages and Fairlife protein products.