Analysts forecast that J M Smucker Co (NYSE:SJM) will announce $1.96 billion in sales for the current quarter, according to Zacks. Six analysts have issued estimates for J M Smucker’s earnings, with the lowest sales estimate coming in at $1.93 billion and the highest estimate coming in at $1.99 billion. J M Smucker posted sales of $1.75 billion in the same quarter last year, which suggests a positive year over year growth rate of 12%. The firm is scheduled to announce its next earnings results on Thursday, August 23rd.
According to Zacks, analysts expect that J M Smucker will report full year sales of $8.18 billion for the current fiscal year, with estimates ranging from $7.95 billion to $8.28 billion. For the next financial year, analysts expect that the business will report sales of $8.32 billion per share, with estimates ranging from $7.96 billion to $8.52 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow J M Smucker.
J M Smucker (NYSE:SJM) last issued its quarterly earnings results on Thursday, June 7th. The company reported $1.93 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.18 by ($0.25). The business had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.80 billion. J M Smucker had a net margin of 18.19% and a return on equity of 12.20%. J M Smucker’s revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.80 earnings per share.
Several equities research analysts recently issued reports on SJM shares. Susquehanna Bancshares set a $159.00 price objective on J M Smucker and gave the company a “buy” rating in a research note on Sunday, June 3rd. Citigroup upped their price objective on shares of J M Smucker from $146.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, April 5th. Jefferies Financial Group reaffirmed a “buy” rating and set a $135.00 price objective on shares of J M Smucker in a research note on Thursday, March 22nd. Gabelli reaffirmed a “buy” rating on shares of J M Smucker in a research note on Monday, March 5th. Finally, Stephens upped their price objective on shares of J M Smucker from $125.00 to $130.00 and gave the company an “equal weight” rating in a research note on Friday, April 6th. Six research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $123.46.
NYSE:SJM traded up $0.32 during trading hours on Thursday, hitting $105.71. 1,177,102 shares of the company’s stock traded hands, compared to its average volume of 1,944,311. The firm has a market capitalization of $11.97 billion, a price-to-earnings ratio of 13.28, a P/E/G ratio of 1.66 and a beta of 0.61. J M Smucker has a 52 week low of $96.13 and a 52 week high of $133.38. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.68 and a current ratio of 1.50.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 1st. Shareholders of record on Friday, May 11th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date was Thursday, May 10th. J M Smucker’s payout ratio is currently 39.20%.
In other J M Smucker news, insider Joseph Stanziano sold 970 shares of J M Smucker stock in a transaction dated Tuesday, June 19th. The shares were sold at an average price of $105.00, for a total transaction of $101,850.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jill R. Penrose sold 518 shares of J M Smucker stock in a transaction dated Wednesday, June 20th. The stock was sold at an average price of $106.27, for a total transaction of $55,047.86. Following the transaction, the senior vice president now owns 10,537 shares of the company’s stock, valued at approximately $1,119,766.99. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,842 shares of company stock valued at $1,255,871. 3.50% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Handelsbanken Fonder AB purchased a new position in shares of J M Smucker during the 4th quarter worth approximately $745,000. LVW Advisors LLC lifted its position in J M Smucker by 24.5% in the 4th quarter. LVW Advisors LLC now owns 19,996 shares of the company’s stock valued at $2,484,000 after acquiring an additional 3,929 shares in the last quarter. Sterling Capital Management LLC lifted its position in J M Smucker by 111.1% in the 4th quarter. Sterling Capital Management LLC now owns 13,537 shares of the company’s stock valued at $1,682,000 after acquiring an additional 7,124 shares in the last quarter. Sei Investments Co. lifted its position in J M Smucker by 13.6% in the 1st quarter. Sei Investments Co. now owns 115,503 shares of the company’s stock valued at $14,323,000 after acquiring an additional 13,802 shares in the last quarter. Finally, Covington Capital Management lifted its position in J M Smucker by 21.4% in the 4th quarter. Covington Capital Management now owns 18,132 shares of the company’s stock valued at $2,253,000 after acquiring an additional 3,200 shares in the last quarter. Institutional investors own 79.16% of the company’s stock.
About J M Smucker
The J. M. Smucker Company manufactures and markets branded food and beverage products worldwide. It operates through U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Foodservice segments. The company primarily offers coffee, pet food products, pet snacks, peanut butter, fruit spreads, shortening and oils, baking mixes and ready-to-spread frostings, frozen sandwiches, flour and baking ingredients, juices and beverages, and portion control products.
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