If there was only one word in which to describe Cramer's opinion of General Mills after speaking with CEO Ken Powell that word might be impressive.
"I was incredibly impressed with how the company is doing and how both the company and the stock are underrated by the research I have recently read," Cramer said.
But that doesn't necessarily mean you should pull the trigger now. Cramer is very aware of the gains, with General Mills trading at its highest levels in at least a decade.
"The stock's been on such a tear that I need you to wait until it comes back down," he said. In other words, select a level at which you believe the stock is attractive and hit the buy button if and when it trades at that price.
If you're wondering if General Mills is the right kind of stock for you, Cramer said it's a kind of Steady Eddie that he thinks belongs in at least two types of portfolios.
1) "I would think that anyone who wants steady income and growth should buy General Mills, maybe buy some today, accepting the inevitability that this stock is having a hard time going down on even an ugly day."
2) "Lots of times on Twitter I am asked, 'Give me a stock that I can buy for my kids.' This is one of those stocks because everyone eats cereal as they grow up so there is a natural inclination to stay involved and follow it."
(Click here to see Cramer's interview with General Mills CEO Ken Powell)
The bottom line on General Mills: "Those who need income, those who want to get their kids involved and those who want to have a sleep at night growth stock, General Mills is for you.