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

J. M. Smucker (NYSE:SJMGet Rating) released its quarterly earnings results on Monday. The company reported $2.40 earnings per share 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 11.38% and a net margin of 7.33%. The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. During the same period in the prior year, the firm earned $2.43 EPS. The company’s revenue was up 7.6% compared to the same quarter last year. J. M. Smucker updated its FY23 guidance to $8.35-8.75 EPS.

J. M. Smucker Price Performance

Shares of SJM stock traded up $2.76 during mid-day trading on Monday, reaching $148.90. The company’s stock had a trading volume of 79,213 shares, compared to its average volume of 847,597. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.45 and a current ratio of 1.05. The company has a market cap of $15.87 billion, a P/E ratio of 26.86, a PEG ratio of 6.17 and a beta of 0.25. The firm’s 50-day moving average is $142.88 and its two-hundred day moving average is $136.33. J. M. Smucker has a 1-year low of $119.82 and a 1-year high of $152.16.

J. M. Smucker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Friday, November 11th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Wednesday, November 9th. J. M. Smucker’s dividend payout ratio is 75.00%.

Wall Street Analyst Weigh In

SJM has been the topic of a number of recent analyst reports. The Goldman Sachs Group increased their target price on shares of J. M. Smucker from $111.00 to $125.00 and gave the company a “sell” rating in a research report on Monday, October 10th. StockNews.com started coverage on shares of J. M. Smucker in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. UBS Group upped their price target on shares of J. M. Smucker from $122.00 to $127.00 and gave the stock a “sell” rating in a research report on Wednesday, August 24th. Exane BNP Paribas assumed coverage on shares of J. M. Smucker in a report on Tuesday, November 15th. They issued an “underperform” rating for the company. Finally, BNP Paribas started coverage on shares of J. M. Smucker in a report on Tuesday, November 15th. They issued an “underperform” rating and a $138.00 price target on the stock. Six equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $139.55.

Insider Activity at J. M. Smucker

In related news, 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 transaction, the insider now directly owns 3,916 shares of the company’s stock, valued at $561,515.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other J. M. Smucker news, Director Richard K. Smucker sold 20,000 shares of the business’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $142.28, for a total value of $2,845,600.00. Following the completion of the sale, the director now directly owns 631,010 shares of the company’s stock, valued at approximately $89,780,102.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Amy C. Held sold 8,701 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 3,916 shares of the company’s stock, valued at approximately $561,515.24. The disclosure for this sale can be found here. Insiders have sold 63,019 shares of company stock worth $8,995,996 in the last ninety days. Company insiders own 3.70% of the company’s stock.

Institutional Trading of J. M. Smucker

Institutional investors have recently made changes to their positions in the stock. Eagle Bay Advisors LLC bought a new stake in J. M. Smucker in the second quarter valued at $27,000. Centaurus Financial Inc. bought a new position in shares of J. M. Smucker during the first quarter valued at about $138,000. Covestor Ltd grew its position in shares of J. M. Smucker by 57.5% during the 1st quarter. Covestor Ltd now owns 1,263 shares of the company’s stock valued at $171,000 after purchasing an additional 461 shares in the last quarter. Merit Financial Group LLC bought a new position in shares of J. M. Smucker during the first quarter valued at about $213,000. Finally, Toroso Investments LLC bought a new position in shares of J. M. Smucker during the first quarter valued at $220,000. 79.56% of the stock is 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.

Featured Stories

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

Receive News & Ratings for J. M. Smucker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for J. M. Smucker and related companies with MarketBeat.com's FREE daily email newsletter.