J. M. Smucker (NYSE:SJM) Announces Earnings Results

J. M. Smucker (NYSE:SJMGet Rating) announced its quarterly earnings data on Monday. The company reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.19 by $0.21, MarketWatch Earnings reports. J. M. Smucker had a return on equity of 11.31% and a net margin of 7.01%. The business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.18 billion. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.43 EPS. J. M. Smucker updated its FY23 guidance to $8.35-8.75 EPS.

J. M. Smucker Trading Up 0.8 %

NYSE SJM opened at $149.23 on Wednesday. The firm’s fifty day moving average is $143.21 and its two-hundred day moving average is $136.46. J. M. Smucker has a one year low of $119.82 and a one year high of $152.16. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.45 and a current ratio of 1.09. The firm has a market cap of $15.90 billion, a PE ratio of 28.00, a P/E/G ratio of 6.25 and a beta of 0.25.

J. M. Smucker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Friday, November 11th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 2.73%. The ex-dividend date is Wednesday, November 9th. J. M. Smucker’s payout ratio is currently 76.55%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SJM shares. Bank of America raised shares of J. M. Smucker from a “neutral” rating to a “buy” rating and increased their price objective for the company from $145.00 to $155.00 in a research report on Wednesday, August 17th. Exane BNP Paribas began coverage on J. M. Smucker in a research note on Tuesday, November 15th. They issued an “underperform” rating on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on J. M. Smucker from $145.00 to $148.00 in a research report on Tuesday. Morgan Stanley raised their target price on J. M. Smucker from $132.00 to $135.00 and gave the stock an “underweight” rating in a research report on Tuesday. Finally, BNP Paribas assumed coverage on J. M. Smucker in a research note on Tuesday, November 15th. They set an “underperform” rating and a $138.00 target price for the company. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, J. M. Smucker currently has a consensus rating of “Hold” and an average price target of $141.36.

Insider Transactions at J. M. Smucker

In related news, insider Amy C. Held sold 8,701 shares of the firm’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $143.39, for a total transaction of $1,247,636.39. Following the transaction, the insider now owns 3,916 shares of the company’s stock, valued at $561,515.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other J. M. Smucker news, insider Jill R. Penrose sold 4,543 shares of the company’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $140.83, for a total transaction of $639,790.69. Following the completion of the transaction, the insider now owns 9,106 shares in the company, valued at approximately $1,282,397.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Amy C. Held sold 8,701 shares of J. M. Smucker stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $143.39, for a total value of $1,247,636.39. Following the completion of the sale, the insider now owns 3,916 shares in the company, valued at $561,515.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 63,019 shares of company stock worth $8,995,996. Company insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On J. M. Smucker

Institutional investors and hedge funds have recently made changes to their positions in the business. Edgestream Partners L.P. purchased a new position in shares of J. M. Smucker during the 1st quarter worth approximately $1,136,000. Atria Wealth Solutions Inc. purchased a new stake in shares of J. M. Smucker in the first quarter valued at $742,000. Kentucky Retirement Systems Insurance Trust Fund boosted its stake in shares of J. M. Smucker by 3.1% during the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 3,819 shares of the company’s stock valued at $525,000 after acquiring an additional 114 shares during the last quarter. Kinneret Advisory LLC increased its position in J. M. Smucker by 2.3% during the 1st quarter. Kinneret Advisory LLC now owns 3,302 shares of the company’s stock worth $447,000 after purchasing an additional 74 shares in the last quarter. Finally, Horizon Investments LLC raised its stake in J. M. Smucker by 17.4% in the 1st quarter. Horizon Investments LLC now owns 3,269 shares of the company’s stock valued at $440,000 after purchasing an additional 484 shares during the last quarter. 79.56% of the stock is currently owned by hedge funds and other institutional investors.

About J. M. Smucker

(Get Rating)

The J. M. Smucker Company manufactures and markets branded food and beverage products worldwide. It operates in three segments: U.S. Retail Pet Foods, U.S. Retail Coffee, and U.S. Retail Consumer Foods. 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.

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Earnings History for J. M. Smucker (NYSE:SJM)

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