Jim Cramer is Recommending These Stocks

Jim Cramer in a recent program talked about the importance of The Dow Jones Industrial Average touching the 40,000 mark for the first time ever. Cramer said that the Dow hitting its new highs was a "team effort" with stocks from many different sectors adding to the index's gains, instead of just the gains from major tech stocks with size and growth similar to the likes of NVIDIA Corp (NASDAQ:NVDA), Amazon.com Inc (NASDAQ:AMZN) and Alphabet (NASDAQ:GOOG).

Cramer said that many of the Dow stocks should have been "hurt" by the consistent rate hikes by the Fed.

"They should have been crushed by the inflationary spiral. They should have been annihilated by supply chain problems during COVID. None of that happened."

Cramer Doesn't See "Anything" Like 2008 Crisis Happening

Cramer said that it's been almost 20 years since the 2008 financial crisis. When he "surveys" today's market "landscape" he sees the situation totally different from what it was back then.

"I just don’t see anything like that happening."

Cramer said that many people would argue that no one saw the 2008 financial crisis coming, but in fact there were many who were warning about the impending collapse, including him.

Jim Cramer said that back in 2007 he was "screaming" about the "danger."

Cramer Laments Over Negativity in the Market

Cramer lamented that younger investors from Millennial and Generation Z generations have grown to be pessimists when it comes to the stock market. He wondered whether it's his "job" to celebrate the Dow hitting 40,000 to infuse some positivity in the market. Cramer said his generation (the Baby Boomers) believed that they were better off when compared to their previous generation financially and had a positive attitude in the stock market.

Jim Cramer wondered what's wrong with celebrating when stocks go high.

"We have so much negativity that surrounds us. We are drowning in it. All of a sudden something positive falls into our lap, a major milestone… does it make sense to scoff at it?" Cramer said.

"I'm Not Asking for Champagnes or Trophies"

The CNBC host said he's not asking for "champagnes" or "trophies" to celebrate the Dow's new milestone. What Cramer wants is the rejection of "nihilism" and skepticism that's prevailing in the market.

Jim Cramer is Recommending These 10 Stocks

Jim Cramer recommended several stocks in his latest programs aired on CNBC. We watched these programs and picked 5 stocks for this article that he either recommended investors to buy or hold. To see more stocks Jim Cramer recommended recently, click Jim Cramer is Recommending These 5 Stocks.

Taseko Mines Ltd (NYSE:TGB)

Number of Hedge Fund Investors: 7

Canadian copper company Taseko Mines Ltd (NYSE:TGB) is one of the stocks Jim Cramer is bullish on, albeit with low enthusiasm. Cramer said he usually doesn’t "like to say that but I believe in the theory" that copper could be a short squeeze. Jim Cramer hit the "buy, buy, buy" button on the stock.

Taseko Mines Ltd (NYSE:TGB) revenue in the first quarter jumped 27.2% year over year to $146.95 million.

MeiraGTx Holdings PLC (NASDAQ:MGTX)

Number of Hedge Fund Investors: 13

Jim Cramer was recently asked about New York-based clinical stage gene therapy company MeiraGTx Holdings PLC (NASDAQ:MGTX) Holdings. Cramer said:

"It is a worthy spec, you wanna be there because it's with limited downside and nice upside."

In addition to MGTX, Cramer is also bullish on NVIDIA Corp (NASDAQ:NVDA),  Amazon.com Inc (NASDAQ:AMZN) and Alphabet Inc Class C (NASDAQ:GOOG).

Dutch Bros Inc (NYSE:BROS)

Number of Hedge Fund Investors: 23

Drive-through coffee chain company Dutch Bros Inc (NYSE:BROS) is one of the stocks Jim Cramer is recommending. Cramer said he's a "confirmed user" of Dutch Bros Inc (NYSE:BROS) and a "recommender of the stock for you."

"It's too junior for my trust but I really like it."

Like BROS, Cramer is also recommending NVIDIA Corp (NASDAQ:NVDA),  Amazon.com Inc (NASDAQ:AMZN) and Alphabet Inc Class C (NASDAQ:GOOG). Dutch Bros management talked about guidance in its Q1 earnings call:

"Total revenues are now projected to be between $1.2 billion and $1.215 billion, or an increase of $10 million from our original guidance. Adjusted EBITDA is now estimated to be between $195 million and $205 million, or an increase of $10 million from our original guidance. When we look at the remainder of the year, we expect to see quarterly adjusted EBITDA results, more close to one another than we have seen in prior years. We would expect Q2 and Q3 will remain slightly stronger quarters seasonally than Q4; however, less pronounced. There are no changes to our original guidance as it relates to the following aspects: total system shop openings remain in the range of 150 to 165, same shop sales growth remain in low single digits, capital expenditures are estimated to remain in the range of $280 million to $320 million."

Read the full earnings call transcript here.

Sprouts Farmers Market Inc (NASDAQ:SFM)

Number of Hedge Fund Investors: 30

Jim Cramer is highly bullish on Arizona-based supermarket chain company Sprouts Farmers Market Inc (NASDAQ:SFM). When asked about the stock in a recent program, Cramer said Sprouts Farmers Market Inc (NASDAQ:SFM) is a "juggernaut."

"Winner winner chicken dinner," Cramer said about the stock.

He also said that he wants Sprouts Farmers Market Inc (NASDAQ:SFM) management on his show. Over the past one year, Sprouts Farmers Market Inc (NASDAQ:SFM) shares have gained about 118%.

Of the 933 hedge funds tracked by Insider Monkey, 25 hedge funds had stakes in Sprouts Farmers Market Inc (NASDAQ:SFM).

The company during its latest earning call talked about 2024 guidance:

"For the full-year, we expect total sales growth to be between 7% to 8% and comp sales in the range of 2.5% to 3.5%. We plan to open approximately 35 new stores, all in our current prototype. Adjusted earnings before interest and taxes are expected to be between $415 million and $425 million and adjusted earnings per share are expected to be between $3.05 and $3.13 assuming no additional share repurchases.

That said, we do expect to continue to repurchase shares opportunistically. We also expect our corporate tax rate to be approximately 25%. During the year, we expect capital expenditures net of landlord reimbursements to be between $225 million and $245 million. To add a bit more color to the full-year, we expect gross margins to be up as we continue to focus on initiatives to improve shrink and annualize our promotional optimization work from 2023."

Read the full earnings call transcript here.

Abercrombie & Fitch Co (NYSE:ANF)

Number of Hedge Fund Investors: 35

Ohio-based lifestyle retail Abercrombie & Fitch Co (NYSE:ANF) is one of the stocks Jim Cramer is recommending these days. When asked about Abercrombie & Fitch Co (NYSE:ANF) in a latest program, Cramer said he expects "nothing but good things" with Abercrombie & Fitch Co (NYSE:ANF). Abercrombie & Fitch Co (NYSE:ANF) shares have gained more than 500% over the past one year.

As of the end of the first quarter of 2024, 35 hedge funds tracked by Insider Monkey reported having stakes in Abercrombie & Fitch Co (NYSE:ANF).

Jim Cramer is recommending many more stocks.

Click to see 5 More Stocks Jim Cramer is Recommending.        

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Disclosure: None. Jim Cramer is Recommending These Stocks was originally published on Insidermonkey.com