Middle Coast Investing, an investment advisor firm, released its fourth-quarter investor letter. A copy of the letter can be downloaded here. It was a strong quarter for the strategy which outperformed the S&P 500 and the Russell 2000. However, in full year 2024, the strategy beat the Russell 2000, the most relevant benchmark, but trailed the S&P 500, the most important benchmark. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Middle Coast Investing highlighted stocks like The J. M. Smucker Company (NYSE:SJM), in the fourth quarter 2024 investor letter. The J. M. Smucker Company (NYSE:SJM) manufactures and markets branded food and beverage products. The one-month return of The J. M. Smucker Company (NYSE:SJM) was -6.91%, and its shares lost 18.59% of their value over the last 52 weeks. On January 8, 2025, The J. M. Smucker Company (NYSE:SJM) stock closed at $105.43 per share with a market capitalization of $11.219 billion.
Middle Coast Investing stated the following regarding The J. M. Smucker Company (NYSE:SJM) in its Q4 2024 investor letter:
“I’ve been interested in ‘boring’ companies that should do well whatever the market environment, and that have strong balance sheets in case things turn badly. ABM Inc. (ABM) from last quarter, Steelcase, or The J. M. Smucker Company (NYSE:SJM) are examples of these types of companies. SJM has more debt on its balance sheet, but I believe its business will be stable enough for it to pay off the debt, creating more value for shareholders.”
A wholesaler distributing peanut butter, fruit spreads and specialty spreads to a retailer.
The J. M. Smucker Company (NYSE:SJM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 30 hedge fund portfolios held The J. M. Smucker Company (NYSE:SJM) at the end of the third quarter which was 34 in the previous quarter. While we acknowledge the potential of The J. M. Smucker Company (NYSE:SJM) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed The J. M. Smucker Company (NYSE:SJM) and shared the list of best dividend stocks for an early retirement portfolio. In addition, please check out our hedge fund investor letters Q4 2024 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.