1 Blue Chip Food Stock to Consider Adding to Your Plate
Regardless of the economic sector, brand recognition is critical to the success of a business. That's because widely known brands tend to enjoy competitive advantages over peers, such as the ability to convince customers to pay more versus other products.
The consumer staple known as J.M. Smucker (NYSE: SJM) fits this profile. Here are three reasons why income investors should think about adding the stock to their portfolios.
J.M. Smucker generated approximately 95% of its net sales in the previous fiscal year ended April 30, 2022 inside the U.S. Its brands are commonly found in homes throughout the country. In fact, nearly 90% of households in the U.S. have at least one of its products in their pantries. The Ohio-based company's stacked brand portfolio includes 9Lives cat food, Kibbles 'n Bits dog food, Folgers coffee, Jif peanut butter, and Smucker's jam and jellies, to name just a few.
Source Fool.com
