Smucker is the only new “dividend aristocrat” worth buying

CNBC’s Jim Cramer said on Tuesday that investors should consider adding JM Smucker stock to their shopping lists.

“Despite the fact that this market has performed well, and I think the bear is more or less dead outside of tech, I still think you need some sort of fall protection because it’s a tricky moment,” he said.

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nordson, CH Robinson and J. M. Smucker qualified for the S&P 500 Dividend Aristocrats and will be added to the index on February 1, S&P Dow Jones Indices reported earlier this month.

The index consists of stocks included in the underlying S&P 500 index that have increased their dividends for at least the past 25 years. Dividend Aristocrats are typically stocks with stable payouts, defensive qualities, and long-term growth.

Cramer said that while Nordson’s stock price is too high and CH Robinson’s management turmoil makes its stock too “dubious”, JM Smucker is selling it at a reasonable price.

JM Smucker stock is also a great choice for investors concerned about how the Federal Reserve’s interest rate hike could slow the economy, he added.

“This is just a good, solid business that deserves to be considered one of the best packaged food companies such as General Mills and Campbell’s soup“, – said Kramer. – I don’t think he deserves the respect he deserves.”