Now that Janet Yellen reiterated on Wednesday that investors should expect a rate hike later this year, Jim Cramer is wondering what to do with high-quality packaged food names with a strong dividend, like General Mills.
General Mills has a large array of brands spanning from Cheerios, Chex, Pillsbury, Progresso, Yoplait and Betty Crocker to its natural and organic business, which includes the recently acquired Annie's.
The company reported a few weeks ago, and while revenues were hit because of the strong dollar, it still managed to beat Wall Street's earnings estimates by 4 cents.
"It was truly an impressive showing in a challenged category," the "Mad Money" host said.
On Tuesday General Mills hosted its annual investor day, where it outlined its plans to grow its business, including launching Yoplait in China and to dramatically expand its natural and organic product base dramatically.
To hear more on its plans for growth, Cramer spoke with General Mills chairman and CEO Ken Powell.