I've interviewed some CEOs who took people's breath away by firing them or by running the company they led into the ground. Cramer was speaking of great CEOs who "take your breath away" by making brilliant calls and prescient decisions.
One that he singled out, Jeff Ettinger, is the CEO of Hormel Foods (HRL - Get Report). Early on Jan. 4, HRL was upgraded to Outperform from Underperform by CLSA to reflect Hormel's recent acquisition of the Skippy peanut butter business from U.K.-based Unilever (UL), another smartly led company.
CLSA said the acquisition of the famous brand label peanut butter diversifies Hormel's U.S. portfolio and increases its emerging market exposure. The price target was lifted to $37 from $32. UL, which already has a broad and diversified product line, needed the cash to help support its total debt load and to sustain its generous 3.2% dividend, which represents a 65% payout ratio.Zacks Equity Research offered the following: "Introduced in 1932, Skippy holds the second largest market share in the US for natural peanut butter category, offering as many as 11 varieties of shelf-stable peanut butter products. In the US, peanut butter accounts for businesses amounting to $2 billion and is the second most popular sandwich spread after ham. "The product line has a presence in over 30 countries spreading over five continents around the globe. Consequently, the acquisition is likely to be accretive with immediate effect
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