5 Best Recession Stocks to Buy According to Jim Cramer

3. The Procter & Gamble Company (NYSE:PG)

Number of Hedge Fund Holders: 72 

The Procter & Gamble Company (NYSE:PG) markets consumer packaged goods. Cramer is bullish on the stock and has advised investors to stick to consumer staples during a recession. Cramer recently said that consumer staples tend to do well during a recession as people will keep buying staples regardless of the overall economic outlook. He has also highlighted the dividend history of the company, which goes back nearly six decades, as another reason to own the stock during an economic slowdown. 

On June 1, Deutsche Bank analyst Steve Powers maintained a Buy rating on The Procter & Gamble Company (NYSE:PG) stock and lowered the price target to $171 from $177, noting that the firm had outperformed against an increasingly difficult cost, consumer, and supply backdrop.

Among the hedge funds being tracked by Insider Monkey, Florida-based investment firm GQG Partners is a leading shareholder in The Procter & Gamble Company (NYSE:PG), with 9.9 million shares worth more than $1.5 billion.