Shares of McDonald's (MCD - Get Report) are up roughly 3% Friday after the company beat on earnings per share and revenue expectations

The company's comp-store sales results topped expectations too, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Mad Dash" segment. 

Despite a slowdown in McDonald's All-Day Breakfast initiative from a year ago, growth remains above average and is continuing at a healthy pace. The company's international results were "fabulous," he added. 

The stock has slid from the low-$130s in April, to under $111 heading into Friday's trading session. Too many people continue to underestimate the "remarkable culture change" that CEO Steve Easterbrook is bringing to the company, Cramer asserted. 

Those who really bring in the bucks for McDonald's think Easterbrook is the real deal. Cramer says the CEO has got the company's franchise owners fired up and willing to do more to generate sales. 

That's why Cramer says Mickey D's has got its mojo back and the stock will go higher. 

At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.