After talking with the CEO, Jim Cramer said, "The consistent nature of this company is remarkable. I think it belongs in your portfolio."
The company is B&G Foods, the company behind a wide range of brands that include Cream of Wheat, Ortega, Polaner, Vermont Maid, B&M beans, Pirate's Booty and more.
Cramer recognizes that a long position in this stock may not be initially intuitive.
"Their business has not been not so hot lately and the stock is roughly flat over the last year after a couple of missed quarters."
Looking at the latest earnings, " a 4-cent miss off of a 38-cent basis, with lower than expected revenues," Cramer explained.
However, after talking with CEO David Wenner, Cramer came to believe that the weakness would only be temporary.
"There were two big factors in the downturn. The first was that Easter was late this year and the second was the weather. In our food service business, traffic was down, and our sales were down commensurately."
However, and perhaps more important, Wenner added that volumes had improved in April.
Despite the weather "Revenues increased by 15.7% year over year," Cramer said.
If business is showing relative improvement, Cramer thinks the company and its stock may be on the brink of a turn, especially since the demand for B&G products remains consistent and also because B&G generates a reliable dividend.
"Our company is a cash flow machine and we send about 60% of that cash flow out as dividends," explained Wenner. "There's a big cushion in terms of free cash flow left over in the business. And as we do accretive deals we pass along the return to the shareholders."
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All told, Cramer thinks the risk is worth the reward.
"I'm sticking with this one. It's a steady food company with a bountiful dividend that yields 4.4% at these levels. At a time when investors are snapping up Greek bonds that yield merely 3.5%, B&G's dividend seems downright divine."
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