The J.M. Smucker Co. SJM underlined its robust financial health and commitment to shareholders by announcing a 2% hike in its quarterly dividend. The new dividend payout stands at $1.08 per share, up from $1.06. The hiked dividend will be paid on Sep 3, 2024, to shareholders of record as of Aug 16, 2024.
Management continues its dedication to delivering value to shareholders, marking the 23rd consecutive fiscal year of increasing dividends. Such consistent increases underscore the company’s stable and reliable growth, even in fluctuating economic climates.
The J.M. Smucker currently has a dividend payout of 43%, a dividend yield of 3.8% and a free cash flow yield of 5.3%. With an annual free cash flow return on investment of almost 4%, the increased dividend is likely to be sustainable.
Well, dividend payouts are considered one of the most enticing benefits for investors and this leading provider of consumer food and beverages is steadfastly committed to enhancing shareholder value. The Zacks Rank #3 (Hold) company’s stock has increased 2.9% in the past three months against the industry’s decline of 2.9%.
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What Else Should You Know?
The J.M. Smucker recently refined its strategic priorities to align the organization better. These include focusing on growing volume and net sales, operating with excellence and prioritizing resources to capitalize on the fastest growth opportunities. Next, it concentrates on integrating and delivering on the acquired Hostess business. Thirdly, the company intends to achieve its transformation, cost discipline and cash generation aspirations. J.M. Smucker is committed to heightening its focus and resources to reshape its portfolio to achieve sustainable growth across pet food and pet snacks, coffee as well as snacking categories.
The company’s transformed portfolio, bolstered by the buyout of Hostess Brands, has set the stage for long-term growth across key platforms such as coffee, uncrustables frozen sandwiches, dog snacks, cat food and sweet baked snacks. J. M. Smucker intends to stay committed to investing in brands, capabilities and talented employees in the fiscal 2025, staying confident about achieving long-term growth and boosting shareholders’ value.
Key Staple Picks
Freshpet, Inc. FRPT, a pet food company, has a trailing four-quarter earnings surprise of 118.2%, on average. FRPT currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Freshpet’s current financial-year sales and earnings indicates growth of 24.8% and 177.1%, respectively, from the prior-year reported level.
BRF BRFS, which engages in raising, producing and slaughtering poultry and pork for processing, production and sale of fresh meat, processed products, pasta, margarine, pet food and other products, currently sports Zacks Rank #1.
The Zacks Consensus Estimate for BRF’s current financial-year sales and earnings suggests growth of 7.5% and 210%, respectively, from year-ago reported figures.
Treehouse Foods THS is a manufacturer of packaged foods and beverages. The company currently has a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for Treehouse Foods’ current financial-year sales and earnings indicates a decline of 1.6% and 8.5%, respectively, from the prior-year reported level. THS has a negative trailing four-quarter average earnings surprise of 4.5%.
The J. M. Smucker Company (SJM) : Free Stock Analysis Report
Freshpet, Inc. (FRPT) : Free Stock Analysis Report
BRF S.A. (BRFS) : Free Stock Analysis Report
TreeHouse Foods, Inc. (THS) : Free Stock Analysis Report
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