Rodkin explained that ConAgra's recipe for success includes building on its core competencies, being the fastest-growing private-label brand and doubling the company's international exposure, three things it is well on its way to achieving.
Cramer said investors looking for yield and growth along with a clear path for the future need to look no further than ConAgra.
Continuing with his "Anointed Growth Stocks" list, Cramer highlighted his next two stocks, Visa (V - Get Report) and MasterCard (MA - Get Report). Cramer reminded viewers that Visa and MasterCard are not banks and don't loan any money, they simply process transactions and make a bundle doing it.
That's why shares of Visa are up 35% so far this year and MasterCard is up 25% for the year. Cramer said the growth in these two stocks comes from the worldwide switch from paper money to plastic payments. In the U.S., nearly 52% of all payments are still made in cash, while in the rest of the world that number jumps to 85%, leaving plenty of growth remaining for both companies.Cramer said he's not worried about competition from virtual wallets and other new payment technologies, although he still likes eBay (EBAY), another Action Alerts PLUS holding, for its PayPal unit. Both Visa and MasterCard are working on their own virtual payment systems, he said, but all of these newer technologies are still years away. In addition to their growth, Cramer said MasterCard and Visa have no debt, terrific balance sheets and strong management teams. Best of all, shares of Visa and MasterCard are cheap, with Visa trading at just 19 times 2013 earnings and MasterCard down at 18 times 2013 earnings. Given that the switch from paper money to debit and credit cards can trump even a weakened global economy, Cramer said both of these stocks should be on investors' buy lists.