Warren Buffett likes Coca-Cola, but PepsiCo also worth a look

There’s plenty of room in investors’ stock portfolios for both Coca-Cola and Pepsi, CNBC’s Jim Cramer said Friday.

“I would say the ‘cola wars’ have ended, so everybody’s making money in cola,” said Cramer, whose charitable trust owns shares of Pepsi.

The “cola wars” refers to a longtime on-again-off-again rivalry between Coca-Cola and Pepsi, in which both companies would use advertising and marketing tactics pitted at each other.

Cramer said he prefers New York-based beverage company PepsiCo over Coca-Cola but admitted that investors can’t go wrong with either stock. “No one has ever got hurt buying a stock at Coca-Cola, and I think that continues,” Cramer said on “Squawk on the Street.”

“[It’s] a Warren Buffett stock that has just over time high price-to-earnings multiple with a good dividend,” the host of CNBC’s “Mad Money” added.