Jim Cramer Recently Talked About These 11 S&P 500 Stocks

6. Starbucks Corporation (NASDAQ:SBUX)

Number of Hedge Fund Holders: 76

Starbucks Corporation (NASDAQ:SBUX), a part of his trust’s portfolio, was mentioned by Cramer as it was the 6th best S&P 500 performer in January.

“Hey, by the way, let’s have an honorable mention for Charitable Trust holding Starbucks, that was sixth in the S&P 500 last month. It gained 18% primarily because of a big move last Wednesday after the company reported a better-than-feared quarter with positive commentary from new CEO, Brian Niccol, formerly of Chipotle. While the stock moved a lot since Niccol was announced its new CEO last August, I’d still much rather bet with him than bet against him even up here.”

Starbucks (NASDAQ:SBUX) is a prominent global brand known for roasting, marketing, and selling coffee, offering a diverse selection of beverages, coffee beans, and food items at its stores. Cramer recently discussed how the company’s stock dropped to $77 before announcing a leadership change.

With the departure of the previous CEO, Starbucks (NASDAQ:SBUX) brought in Brian Niccol, the executive who had successfully turned around Chipotle during its challenging times. Cramer noted that once Niccol took the helm, the stock surged. While Cramer initially believed that Starbucks might face another downturn, the stock kept rising and never looked back, reaching the high $90s and continuing its upward trajectory. He added:

“In fact, when the company reported this week, the stock powered ever higher to the point where this very big… company is now up over 40% since the last CEO got fired. Why? Didn’t the media focus on how Starbucks missed its numbers? That’s what I heard… Here’s the answer: For Starbucks, the coffee might be good, but Starbucks, the company was really poorly run and Starbucks the stores? Disastrous.”