Jim Cramer Talked About These 17 Stocks After The Fed’s Rate Cut

13. Lamb Weston Holdings, Inc. (NYSE:LW)

Number of Hedge Fund Holders In Q3 2024: 37

Lamb Weston Holdings, Inc. (NYSE:LW) is a well-known American firm that sells french fries. It is one of the worst-performing stocks on the market in 2024 as the shares are down 42% year-to-date. Like Conagra, the firm has struggled with declining volumes due to consumers struggling with high inflation. However, Lamb Weston Holdings, Inc. (NYSE:LW) has also dealt with rising potato prices, which a lawsuit claims stems from due actions of a ‘potato cartel.’ The firm is also purportedly part of this cartel. US potato production dropped to a new low since 2010 by June 2024 and prices had surged by 36%. Cramer’s comments around Lamb Weston Holdings, Inc. (NYSE:LW) revolved around management changes forced by activist investor Jana Partners:

“What do they think the financial results are? What are the financial results of this man coming in. . . .of this change, the COO coming in [AS CEO]? . . . Disastrous!

“Look, this company was doing better than its spin-off would have been, the company was spun off from Conagra. Uh, and I always felt, but hold on, wait a second, maybe Conagra should have kept french fries but in the end this is a company that is now worth $9 billion versus $12 billion when Conagra completely reversed. There was some way to make this company better. And you don’t pick the guy who is part of the regime.

“You know what you do? You go to Jana and say hey you know what? Get us a guy. You know who would do better than this guy? Maybe Mr. Potato Head. Mr. Potato Head has game.”