The company provides its products under the Fisher, Orchard Valley Harvest, Squirrel Brand, Southern Style Nuts and Sunshine Country brands, as well as under various private brands. It serves retailers and wholesalers, and commercial ingredient and contract packaging customers through a network of independent brokers, distributors and suppliers.
The current dividend yield is 0.95%, but John B. Sanfilippo & Son is expected to raise the dividend by a nickel per share to $0.75. The $100 price target at Sidoti would be a multiyear high. The shares closed at $73.57 on Friday.
Anybody that has ever had a peanut butter and jelly sandwich has likely used one of this company’s products. J.M. Smucker Co. (NYSE: SJM) manufactures and markets branded food and beverage products worldwide.
The company offers mainstream roast, ground, single-serve, and premium coffee; peanut butter and specialty spreads; fruit spreads, shortening and oils and frozen sandwiches and snacks; pet food and pet snacks; and foodservice hot beverage, foodservice portion control and flour products, as well as dog and cat food, frozen handheld products, juices and beverages, and baking mixes and ingredients.
J.M. Smucker also provides its products under the Meow Mix, 9Lives, Kibbles n Bits, Milk-Bone, Pup-Peroni, Rachael Ray Nutrish and Nature’s Recipe, Folgers, Café Bustelo, Dunkin’, Café Bustelo, 1850, Jif, Smucker’s, Smucker’s Uncrustables, Robin Hood and Five Roses brands.
The company sells its products through direct sales and brokers to food retailers, club stores, discount and dollar stores, online retailers, pet specialty stores, natural foods stores and distributors, drug stores, military commissaries and mass merchandisers.
Shareholders currently enjoy a 3.02% dividend, and the expected increase is from $0.99 per share to $1.05. Guggenheim has set a $146 target price, which compares with a $131.27 consensus target for J.M. Smucker stock. Friday’s closing print of $131.19 was up close to $3% for the day.
These four top companies have stocks rated Buy across Wall Street, and they are expected to lift the dividends they pay to shareholders. Not only is increasing dividends and returning capital to investors important, but it shows that the company is doing well and has the earnings and cash flow strength to increase those payouts.
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