In addition to the WhiteWave spinoff, which is already in process, Dean Foods also announced on Sept. 26 that it's seeking a buyer for its Morningstar division, which makes, among other things, coffee creamers for restaurants.
Adding up the value for both WhiteWave and Morningstar as well as the remaining Dean Foods business, Cramer said the company is worth at least $20 a share, a full 40% more than where it closed Thursday.
While some analysts have been bearish on Dean, given the rising price of milk, Cramer said the more important question is how much value this company can unlock by spinning off its highly valuable assets. He said it's clear that in its current form these gems are lost within the larger company.
For the next installment of his "annointed stocks," Cramer featured two more names he said will be hot on money managers' minds through the rest of the year: Sherwin-Williams (SHW - Get Report), a stock that's up 67% for the year; and liquor giant Diageo (DEO), which is up 30% so far this year.When you're selling a home you buy paint, and when you're buying a home you buy more paint. That's why as the housing market recovers, Sherwin keeps selling more and more paint. The company last reported a 9% uptick in sales and a 13.9% increase at its stores. It continues taking market share and cutting costs, which is why Cramer said it deserves more than 19.2 times given its 16% growth rate. Of the analysts currently covering Sherwin-Williams, only three rate it a buy, with 12 holds and another three sells. Then there's Diageo, a company with a fantastic stable of brands, including seven of the top 20 liquors out there. Diageo also sports a 3% dividend and has less exposure to Europe, but more exposure to the red-hot emerging markets. Cramer said at 15.5 times earnings and a 10% growth rate, Diageo still trades for well less than its rivals Brown-Forman (BFB) and Beam (BEAM).