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Cramer: Can Hain's pain turn into a gain?
In light of Panera Bread (PNRA)'s announcement on Tuesday of an unacceptable ingredient list, Jim Cramer took that as a sign that the organic and natural movement for food in the U.S. is here to stay.
So, what the heck happened with Hain Celestial (HAIN)?
Hain is the natural and organic food maker behind such brands as Celestial Seasonings, Earth's Best, Terra, Garden of Eatin' and many others. Yet, the stock has fallen out of favor with investors, down more than 10 percent since hitting all-time highs in March.
On Wednesday, Hain Celestial reported what appeared to Cramer as a solid quarter. It announced in-line earnings and higher-than-expected revenues that were up 18.9 percent year-over-year, even though it faced headwinds with a strong dollar on its business in the U.K. The only negative was with gross margins down 360 basis points, year-over-year.
Despite a strong quarter, the stock was slammed on Wednesday, down 3.4 percent. Cramer speculated that the reason was based on high expectations. Investors have gotten used to Hain Celestial killing it every quarter, so, when it delivered just a decent quarter, the stock got annihilated.
"I think you need to look at this recent pullback as a chance to buy a high-quality stock at a nice discount," the "Mad Money" host said.
Could the changing eating habits of consumers take the stock higher in the long-term? To find out, Cramer spoke with Han Celestial's founder, chairman and CEO, Irwin Simon.
"Hain is not about a quarter-to-quarter. Here is what we are-we are changing the way the world eats," Simon said.
The CEO says that when he started the company 20 years ago and mentioned the concept of GMOs and organic, no one understood those terms. Times have dramatically changed since then, as natural and organic foods can be found at Wal-Mart (WMT), Target (TGT) and Whole Foods (WFM) stores around the country.
Overall, Simon thought that the company had a great quarter. He attributed its growth to the changing preferences of what people are eating, as evidenced with both Chipotle and Panera making announcements to include better ingredients for their customers.
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"There are 93 million millennials out there...and we see what consumers are eating now, they are changing," Simon added.
He stated that millennials today are drinking more tea than coffee, and things like yogurt have started to replace the old days of eating cereals. With the various products now available on the market, the CEO cited the importance of having the products that millennials want.
"Hain today has no one product, no one category that represents more than 14-15 percent of our sales," Simon said.
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