This article presents an overview of the Jim Cramer Says Recession Is Not Coming and Recommends These 5 Stocks. For a detailed overview of such stocks, read our article, Jim Cramer Says Recession Is Not Coming and Recommends These 11 Stocks.
5. GE HealthCare Technologies Inc (NASDAQ:GEHC)
Number of Hedge Fund Investors: 41
Despite a 35% YTD gain, Jim Cramer believes GE HealthCare Technologies Inc (NASDAQ:GEHC) stock has a further room to run due to catalysts like Alzheimer’s drugs and contrast MRI technologies. Cramer said GE HealthCare Technologies Inc (NASDAQ:GEHC) is “mispriced.” Cramer also said GE HealthCare Technologies Inc (NASDAQ:GEHC) has an “unbelievable business” and “you have to own that stock.”
A total of 41 hedge funds out of the 910 funds tracked by Insider Monkey had stakes in GE HealthCare Technologies Inc (NASDAQ:GEHC).
4. Copart, Inc. (NASDAQ:CPRT)
Number of Hedge Fund Investors: 47
When asked about Copart, Inc. (NASDAQ:CPRT), which is involved in the resale and remarketing of salvage title vehicles, Jim Cramer said Copart, Inc. (NASDAQ:CPRT) was brought to his attention about 20 years ago by James Altucher. Cramer said he “could not believe” the “steady stream” of what Copart, Inc. (NASDAQ:CPRT) does.
“What a winner that is.” Cramer said about Copart, Inc. (NASDAQ:CPRT).
A total of 47 hedge funds out of the 910 funds tracked by Insider Monkey had stakes in Copart, Inc. (NASDAQ:CPRT). The most significant stakeholder of Copart, Inc. (NASDAQ:CPRT) during this period was Bo Shan’s Gobi Capital which has a $152 million stake in Copart, Inc. (NASDAQ:CPRT).
Polen U.S. SMID Company Growth Strategy made the following comment about Copart, Inc. (NASDAQ:CPRT) in its Q3 2023 investor letter:
“We exited three positions during the quarter, including Copart, Inc. (NASDAQ:CPRT), Farfetch, and Olo.
With Copart, we eliminated our position as the relative valuation has become less attractive on the back of strong YTD performance in 2023. With a decline in the expected IRR relative to our current opportunity set, we felt it prudent to move on in favor of superior alternatives.”
3. Marsh & McLennan Companies Inc (NYSE:MMC)
Number of Hedge Fund Investors: 50
Jim Cramer was recently asked about insurance and business services company Marsh & McLennan Companies Inc (NYSE:MMC). Cramer said this is a consistently good company that “just churns out the dollars.” Marsh & McLennan Companies Inc (NYSE:MMC) shares have gained about 13% year to date. Cramer said the stock should be bought if it goes a “little bit lower.”
Of the 910 hedge funds in Insider Monkey’s database, 50 hedge funds tracked by Insider Monkey had stakes in Marsh & McLennan Companies Inc (NYSE:MMC). The most significant stakeholder of Marsh & McLennan Companies Inc (NYSE:MMC) during this period was Greg Poole’s Echo Street Capital Management which owns a $241 million stake.
2. IBM Common Stock (NYSE:IBM)
Number of Hedge Fund Investors: 53
A caller in Jim Cramer’s program asked the analyst whether he should sell IBM Common Stock (NYSE:IBM). Cramer said “no” and that he believes IBM Common Stock (NYSE:IBM) CEO Arvind Krishna is “making a real turn.” Cramer said IBM Common Stock (NYSE:IBM) is an “inexpensive stock” and regretted not buying it for his charitable trust when IBM Common Stock (NYSE:IBM) was at $145.
IBM Common Stock (NYSE:IBM) shares are up by about 14% year to date.
1. Costco Wholesale Corporation (NASDAQ:COST)
Number of Hedge Fund Investors: 65
Jim Cramer has long been a fan of Costco Wholesale Corporation (NASDAQ:COST). Recently the analyst said investors should “hold onto the stock for dear life.” A couple of months ago, Cramer praised Costco Wholesale Corporation’s (NASDAQ:COST) quarterly results and said Costco Wholesale Corporation (NASDAQ:COST) posted a “beautiful” quarter but the stock was not up because Costco Wholesale Corporation (NASDAQ:COST) did not announce any special dividends or raise prices. But Costco Wholesale Corporation (NASDAQ:COST) fulfilled investors’ wish earlier this month when it announced a spectacular fiscal Q1 results. Costco Wholesale Corporation (NASDAQ:COST) announced a special cash dividend of $15 per share which will be paid on January 12, 2024.
A total of 65 hedge funds tracked by Insider Monkey had stakes in Costco Wholesale Corporation (NASDAQ:COST).
Cooper Investors made the following comment about Costco Wholesale Corporation (NASDAQ:COST) in its Q3 2023 investor letter:
“With the market rally in the first half of 2023 driving double digit returns we took the opportunity early in the quarter to reassess Value Latency embedded in the portfolio. The spotlight was on more highly valued stocks that represent some of our longest held positions and among the better performers over the years. The outcome is that we have exited several long-term positions at what we consider attractive prices, where the balance of Risk Adjusted Value Latency was no longer in our favour.
We remain admirers of these businesses and they remain on our watchlist, but the reality is their appeal is widely recognised today. Management have executed well on earnings growth, but returns have also come from substantial multiple re-ratings that we see as unlikely to reoccur from today’s higher base.
Costco Wholesale Corporation (NASDAQ:COST) was acquired in March 2015 at ~$150 and has more than tripled over its holding period to ~$550 today, delivering a total return with dividends reinvested of ~330% in USD or IRR of 20%. Over the journey the multiple re-rated from 25 times to ~35 times.”
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