In this article, we will take a detailed look at Jim Cramer Portfolio: 11 Latest Stocks to Buy. If you want to skip our detailed analysis on Jim Cramer's latest thoughts about the economy and see the top 5 stocks in this list, click Jim Cramer Portfolio: 5 Latest Stocks to Buy.
Jim Cramer in a program last week welcomed signs of an economic slowdown, saying "finally" he is seeing "brown shoots" that could signal the Wall Street that the Fed might be winning its battle against inflation. Jim Cramer admitted that "it's been hard to parse this economy." He said in March when a "steaming hot" jobs report came, it seemed like the Fed was "blindsided" because it was talking about multiple rate cuts this year.
"You don’t do that when the job market is booming. Anything that makes the Fed look stupid hurts its ability to maintain price stability."
Jim Cramer said that just when the Wall Street was about to give up on the possibility of rate hikes, we are seeing signs of an economic slowdown. To back his thesis, Cramer talked about some examples depicting a broader cooldown in the economy. He said J. B. Hunt, the Arkansas-based transportation and logistics company, had a strong January and February but its business "shrunk" in March and the company's total operating revenue fell 9% during the first quarter.
Cramer also mentioned logistics and warehouse REIT Prologis. He said the company lowered its guidance just a month after "coming to this show." Cramer was referring to Prologis CEO Hamid Moghadam's interview on CNBC with Cramer where, according to the Mad Money host, the company gave a "bullish story." Cramer said during the interview the company indicated that it was experiencing weakness only in California but now it seems those problems are spreading to other areas too including Seattle and New Jersey. Cramer said part of the reason why these companies suffered is a possible slowdown in the ecommerce market.
"Because even ecommerce isn’t safe and that, you can feel."
Snap-On Inc (NYSE:SNA) was another stock mentioned by Cramer whose earnings show signs of an economic slowdown in the US following rate hikes. The tools and equipment company posted some "really weak numbers" according to Cramer, and he believes that's a "genuine surprise" from a usually reliable company.
Another surprise came from Sherwin-Williams, which indicated that it's feeling "choppiness" in the business. Cramer said "anything home related" has been quite strong until now. But following the latest numbers, Cramer said Sherwin-Williams shares got "clobbered."
Sherwin-Williams mentioned the word "choppiness" or "choppy" several times during its Q1 earnings call. Here's a comment from Sherwin-Williams CEO from the Q1 earnings call:
"While market conditions are choppy and may give others in our industry a moment of pause, let me be clear, we are not pausing. So this morning, I’m going to talk as much about our results as I am about what we’re doing to ensure the momentum of our company not only continues but accelerates our ability to widen the gap between us and our competition. So let me start with the results of the first quarter. As Jim mentioned, our first quarter is a seasonally smaller one and our results do not necessarily dictate how our full year will unfold. While our sales came in within our guidance, it was at the lower end of our range."
For this article we watched several latest programs of Jim Cramer and picked 11 stocks he recently recommended investors to buy or hold. Instead of major names like Apple Inc (NASDAQ:AAPL), NVIDIA Corp (NASDAQ:NVDA) and Microsoft Corp (NASDAQ:MSFT), which Cramer has been repeatedly recommending for the long term, you will see some new names in the list.
Mexico-based energy company Vista Energy SAB de CV - ADR (NYSE:VIST) is one of the stocks Jim Cramer is bullish on. When asked about Vista Energy SAB de CV - ADR (NYSE:VIST) in a recent program, Cramer said Mexico has changed some rules in the industry which would be "good" for Vista Energy SAB de CV - ADR (NYSE:VIST). Cramer said that he would "actually own" this stock.
Biopharma company Rhythm Pharmaceuticals Inc (NASDAQ:RYTM) is a latest Jim Cramer stock pick because of obesity-related growth catalysts. When asked about the company, Cramer said it's a speculative play but emphasized that he is "not against speculating biotechs right now."
"Looks like that there are so many bids, I'm willing to let a stock catch fire," Cramer added.
Cramer said that "people didn’t like" the latest PNC Financial Services Group, Inc. (NYSE:PNC) quarter. But he disagrees:
"I on the other hand felt it was an enjoyable quarter."
Cramer recommended investors to buy some PNC Financial Services Group, Inc. (NYSE:PNC) shares now and buy more when the stock comes down about 10%.
"You'll have a terrific position that will last a very long time," Cramer said.
Carillon Eagle Growth & Income Fund stated the following regarding The PNC Financial Services Group, Inc. (NYSE:PNC) in its fourth quarter 2023 investor letter:
“The PNC Financial Services Group, Inc. (NYSE:PNC) and JPMorgan performed well due to more benign inflation data, which the market likely interpreted as a sign that a recession is now less likely to occur. Recall that historically speaking, banks are hyper-cyclical stocks and typically will trade lower if investors foresee a recession, because recessions tend to trigger loan losses.”
Axon Enterprise Inc (NASDAQ:AXON) makes technology and weapons for law enforcement and military. Jim Cramer thinks this company is an "ecosystem of law enforcement."
Jim Cramer said Axon Enterprise Inc (NASDAQ:AXON) is good "even here." Over the past six months, Axon Enterprise Inc (NASDAQ:AXON) shares have gained about 53%.
As of the end of the fourth quarter of 2023, 37 hedge funds reported owning stakes in the company.
Like AXON, Cramer is also bullish on Apple Inc (NASDAQ:AAPL), NVIDIA Corp (NASDAQ:NVDA) and Microsoft Corp (NASDAQ:MSFT).
Jim Cramer recently hit the "Buy, Buy, Buy" button on Cloudflare, Inc. (NYSE:NET), saying the company's CEO Matthew Prince "rocks." Cramer said he'd be a "buyer" of this stock. However, the CNBC host said he'd buy Cloudflare, Inc. (NYSE:NET) "slowly" because there's a lot of "big selling" going on. In addition to NET, Cramer recommends Apple Inc (NASDAQ:AAPL), NVIDIA Corp (NASDAQ:NVDA) and Microsoft Corp (NASDAQ:MSFT) in the tech industry for the long term.
“Most of our portfolio companies have seen stabilization and modest improvements in short-term business fundamentals as the year progressed. More importantly in our view, many have been able to drive significant improvement in long-term Key Performance Indicators (KPIs) such as share gains, meaningful expansion of their total addressable market, and improvement in unit economics. These KPIs are significantly more important in driving the intrinsic values of our businesses, which we believe have increased noticeably during 2023. In the meantime, disruptive changes that we expect will benefit many of our businesses have also continued to pick up steam. Some examples include: • Another example is the leading cloud networking and cybersecurity solution provider, Cloudflare, Inc. (NYSE:NET), who described market share gains and customers consolidating from multiple point solutions to Cloudflare’s platform: “And so we’re the one vendor that is able to give people that vendor consolidation, that single pane of glass… that comes through in a lot of customer examples…. people want to buy the entire Cloudflare, Inc. (NYSE:NET) platform. They want to protect their entire business with that, and that’s driving more interest in both our network security, as well as our Zero Trust products.”
Jim Cramer is recommending investors to hold Crown Castle Inc (NYSE:CCI) because of its high dividend yield. Cramer in a program earlier this month said the company has been "mismanaged" but he thinks Crown Castle Inc (NYSE:CCI) can "bottom here" because of its over 6% dividend yield.
Of the 933 hedge funds in Insider Monkey's database of hedge funds, 45 hedge funds reported owning stakes in Crown Castle Inc (NYSE:CCI) as of the end of 2023.
