Brokerages forecast that J M Smucker Co (NYSE:SJM) will report sales of $1.93 billion for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for J M Smucker’s earnings, with the highest sales estimate coming in at $1.97 billion and the lowest estimate coming in at $1.90 billion. J M Smucker reported sales of $1.78 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 8.4%. The business is scheduled to report its next earnings results on Thursday, June 6th.
According to Zacks, analysts expect that J M Smucker will report full year sales of $7.87 billion for the current financial year, with estimates ranging from $7.83 billion to $7.91 billion. For the next year, analysts expect that the business will report sales of $7.88 billion, with estimates ranging from $7.79 billion to $7.98 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow J M Smucker.
J M Smucker (NYSE:SJM) last announced its quarterly earnings results on Tuesday, February 26th. The company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.24. The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.99 billion. J M Smucker had a net margin of 8.15% and a return on equity of 11.61%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter last year, the company posted $2.50 earnings per share.
A number of brokerages have commented on SJM. Zacks Investment Research reiterated a “sell” rating on shares of J M Smucker in a research note on Thursday, November 15th. Credit Suisse Group increased their price target on shares of J M Smucker from $94.00 to $96.00 and gave the company an “underperform” rating in a research note on Wednesday, February 27th. Morgan Stanley increased their price target on shares of J M Smucker from $98.00 to $104.00 and gave the company an “underweight” rating in a research note on Wednesday, February 27th. Jefferies Financial Group set a $125.00 target price on shares of J M Smucker and gave the stock a “buy” rating in a research note on Tuesday, February 26th. Finally, Citigroup raised their target price on shares of J M Smucker from $122.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, February 27th. Five research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $112.73.
In other news, insider David J. Lemmon sold 1,017 shares of the firm’s stock in a transaction dated Monday, December 31st. The shares were sold at an average price of $92.99, for a total transaction of $94,570.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Timothy P. Smucker bought 11,000 shares of the business’s stock in a transaction dated Wednesday, December 19th. The shares were bought at an average price of $98.26 per share, with a total value of $1,080,860.00. Following the purchase, the director now owns 579,652 shares in the company, valued at approximately $56,956,605.52. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 12,000 shares of company stock valued at $1,173,060. 3.92% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the business. Sawyer & Company Inc raised its stake in J M Smucker by 1.8% in the 4th quarter. Sawyer & Company Inc now owns 5,523 shares of the company’s stock worth $516,000 after purchasing an additional 100 shares in the last quarter. Utah Retirement Systems raised its stake in J M Smucker by 0.5% in the 4th quarter. Utah Retirement Systems now owns 20,515 shares of the company’s stock worth $1,918,000 after purchasing an additional 100 shares in the last quarter. Morningstar Investment Services LLC raised its stake in J M Smucker by 2.7% in the 4th quarter. Morningstar Investment Services LLC now owns 4,055 shares of the company’s stock worth $379,000 after purchasing an additional 105 shares in the last quarter. Roberts Glore & Co. Inc. IL raised its stake in J M Smucker by 3.8% in the 4th quarter. Roberts Glore & Co. Inc. IL now owns 2,978 shares of the company’s stock worth $278,000 after purchasing an additional 110 shares in the last quarter. Finally, Lenox Wealth Management Inc. raised its stake in J M Smucker by 1.4% in the 4th quarter. Lenox Wealth Management Inc. now owns 8,137 shares of the company’s stock worth $761,000 after purchasing an additional 116 shares in the last quarter. Institutional investors and hedge funds own 77.32% of the company’s stock.
SJM stock traded up $0.59 during trading hours on Friday, reaching $103.85. The stock had a trading volume of 913,365 shares, compared to its average volume of 1,149,404. The stock has a market cap of $11.75 billion, a P/E ratio of 13.05, a P/E/G ratio of 2.16 and a beta of 0.55. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.95 and a quick ratio of 0.44. J M Smucker has a fifty-two week low of $91.32 and a fifty-two week high of $131.52.
The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 15th were paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date was Thursday, February 14th. J M Smucker’s dividend payout ratio is presently 42.71%.
J M Smucker Company Profile
The J. M. Smucker Company manufactures and markets branded food and beverage products worldwide. It operates in four segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The company primarily offers coffee, pet food and 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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