J M Smucker (NYSE:SJM) Posts Quarterly Earnings Results, Misses Estimates By $0.17 EPS

J M Smucker (NYSE:SJM) posted its quarterly earnings results on Tuesday. The company reported $1.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.75 by ($0.17), RTT News reports. J M Smucker had a return on equity of 11.80% and a net margin of 6.56%. The company had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the business earned $1.78 earnings per share. The firm’s revenue for the quarter was down 6.5% on a year-over-year basis. J M Smucker updated its FY 2020 guidance to $8.35-8.55 EPS and its FY20 guidance to $8.35-8.55 EPS.

SJM stock traded down $9.49 during midday trading on Tuesday, hitting $103.44. 3,315,102 shares of the company’s stock were exchanged, compared to its average volume of 747,226. The stock’s fifty day moving average price is $113.66 and its 200-day moving average price is $115.75. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.31 and a current ratio of 0.69. The company has a market cap of $12.68 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 3.25 and a beta of 0.42. J M Smucker has a one year low of $91.32 and a one year high of $128.43.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th will be issued a dividend of $0.88 per share. The ex-dividend date is Thursday, August 15th. This is a positive change from J M Smucker’s previous quarterly dividend of $0.85. This represents a $3.52 annualized dividend and a yield of 3.40%. J M Smucker’s payout ratio is currently 42.46%.



In other J M Smucker news, CEO Mark T. Smucker sold 2,200 shares of J M Smucker stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $113.28, for a total value of $249,216.00. Following the sale, the chief executive officer now owns 140,975 shares of the company’s stock, valued at approximately $15,969,648. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph Stanziano sold 319 shares of J M Smucker stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $119.20, for a total value of $38,024.80. Following the completion of the sale, the insider now directly owns 14,857 shares in the company, valued at approximately $1,770,954.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,269 shares of company stock worth $372,201. Corporate insiders own 3.70% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Toronto Dominion Bank increased its position in J M Smucker by 61.2% during the second quarter. Toronto Dominion Bank now owns 127,372 shares of the company’s stock worth $14,668,000 after buying an additional 48,338 shares during the last quarter. Atria Investments LLC increased its position in J M Smucker by 246.2% during the second quarter. Atria Investments LLC now owns 18,579 shares of the company’s stock worth $2,126,000 after buying an additional 13,213 shares during the last quarter. Treasurer of the State of North Carolina increased its position in J M Smucker by 5.4% during the second quarter. Treasurer of the State of North Carolina now owns 87,890 shares of the company’s stock worth $10,124,000 after buying an additional 4,520 shares during the last quarter. Nomura Holdings Inc. acquired a new position in J M Smucker during the second quarter worth approximately $296,000. Finally, BlackRock Inc. increased its position in J M Smucker by 2.7% during the second quarter. BlackRock Inc. now owns 9,934,921 shares of the company’s stock worth $1,144,403,000 after buying an additional 258,305 shares during the last quarter. 78.01% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have recently issued reports on the company. Credit Suisse Group reduced their price target on J M Smucker from $120.00 to $114.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. TheStreet lowered J M Smucker from a “b-” rating to a “c+” rating in a research report on Tuesday, August 6th. Morgan Stanley raised their price target on J M Smucker from $117.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Friday, June 7th. Zacks Investment Research lowered J M Smucker from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. Finally, ValuEngine lowered J M Smucker from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $115.44.

About J M Smucker

The J. M. Smucker Co engages in the manufacture and marketing of branded food and beverage products. It operates through the following segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The U. S. Retail Coffee segment includes the domestic sales of Folgers, Dunkin Donuts, and Cafe Bustelo branded coffee.

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Earnings History for J M Smucker (NYSE:SJM)

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