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Stephen Brashear | Getty Images
Starbucks CEO Kevin Johnson gestures while speaking at the Starbucks Annual General Meeting at McCaw Hall on March 21, 2018 in Seattle, Washington.
Starbucks stock jumped more than 2 percent Tuesday, April 15, 2010 Ackman's fund, Pershing Capital Square, now has 15.2 million shares of the coffee chain.
However, Cramer does not think there is much more. Ackman can do on the activist investor side. Instead, Ackman is probably "along for the ride," the "Mad Money" host said.
"I'm sure Ackman 's happy camping," he noted. "A lot of things have been done right now, but they are not going to be brilliant."
Cramer said he believes the U.S. is still going to be tepid for Starbucks, thanks to traffic issue and what he thinks are price differential issues.
"The thing that concerns me most about Starbucks is that it's going to be difficult," he said.
That said, he thinks CEO Kevin Johnson is doing a "remarkable job" and called the Roasters' Roastery a "fabulous investment."
"Coffee shop is where the holy grail is," Cramer said.
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