Cramer cites the affinity works starting to go up, the launch of the company's wine bars, the rollout of the InstaCart delivery program, the store remodeling that causes numbers to rise significantly, and the end of the cannibalization in Boston. He also notes that Whole Foods directly mentioned Trader Joe's and told investors not to worry about it.
Cramer says this is the confident Whole Foods that he missed. He says the company and its co-CEOs, John Mackey and Walter Robb, are back and he believes the stock is not done going higher.
The stock was up 10.58% to $44.22 at 1:01 p.m. on Thursday.
TheStreet Ratings team rates rates Whole Foods as a "buy" with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate WHOLE FOODS MARKET INC (WFM) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, increase in net income, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."