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I first wrote about food maker JM Smucker (SJM) ahead of its last quarterly report. I picked up shares then at $122.15 and they have done well for me. SJM reported 2Q22 earnings Tuesday before the opening and the company continues to do well.

SJM has a nice mix of first-rate consumer brands across its Pet, Coffee, and Food divisions like Milkbone pet treats, Folgers coffee, and Smucker's jam. These are the kinds of products consumers are unlikely to cut back in during tough economic times we’re in.

As a result of its strong quarter, SJM raised full-year EPS guidance to $8.20-$8.60 from $7.85-$8.25. Even with the appreciation in the shares to $143.35 at Tuesday’s close that represents a reasonable 17x multiple on current-year earnings. SJM also pays a 2.85% dividend.

SJM isn’t a sexy stock and it’s not going to make you rich. But in this economic environment, you’re better off aiming for singles than home runs.

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