The stock has shown resilience with a 6.5% return over the past six months. JPMorgan noted that while coffee inflation is likely to be slightly higher for fiscal year 2026 due to increased tariffs on Brazilian coffee, the strong volume performance could help offset these pressures. The firm pointed out that although underlying coffee prices have decreased recently, this benefit will likely materialize more in fiscal 2027 than 2026 due to J.M. Smucker's existing hedge positions. Long-term, JPMorgan believes J.M. Smucker is better positioned to drive top-line and earnings growth compared to similarly valued companies, citing continued growth for Uncrustables products, an expected rebound in pet food demand, and relative stability in the coffee segment. The company has maintained dividend payments for 55 consecutive years, demonstrating consistent shareholder returns.