J M Smucker Co (NYSE:SJM) declared a quarterly dividend on Friday, January 19th, RTT News reports. Investors of record on Friday, February 9th will be paid a dividend of 0.78 per share on Thursday, March 1st. This represents a $3.12 annualized dividend and a yield of 2.45%.
J M Smucker has raised its dividend by an average of 7.8% per year over the last three years and has raised its dividend every year for the last 16 years. J M Smucker has a dividend payout ratio of 40.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect J M Smucker to earn $8.25 per share next year, which means the company should continue to be able to cover its $3.12 annual dividend with an expected future payout ratio of 37.8%.
Shares of J M Smucker (NYSE SJM) traded up $1.85 on Friday, reaching $127.53. The company’s stock had a trading volume of 807,376 shares, compared to its average volume of 899,631. J M Smucker has a 12 month low of $99.57 and a 12 month high of $143.68. The stock has a market cap of $14,295.12, a price-to-earnings ratio of 25.76, a PEG ratio of 2.15 and a beta of 0.66. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.96 and a quick ratio of 0.42.
In other news, insider David J. Lemmon sold 1,205 shares of the business’s stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $124.54, for a total transaction of $150,070.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Jeannette L. Knudsen sold 1,600 shares of the business’s stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $124.36, for a total value of $198,976.00. Following the sale, the senior vice president now directly owns 23,452 shares in the company, valued at approximately $2,916,490.72. The disclosure for this sale can be found here. Insiders have sold a total of 5,610 shares of company stock worth $698,093 in the last three months. Corporate insiders own 3.50% of the company’s stock.
A number of equities research analysts have weighed in on the company. Credit Suisse Group set a $120.00 price objective on J M Smucker and gave the company a “hold” rating in a report on Wednesday, January 10th. Susquehanna Bancshares set a $150.00 price objective on J M Smucker and gave the company a “buy” rating in a report on Thursday, January 4th. Wells Fargo & Co set a $128.00 price objective on J M Smucker and gave the company a “hold” rating in a report on Thursday, January 4th. Stifel Nicolaus lifted their price objective on J M Smucker from $109.00 to $113.00 and gave the company a “hold” rating in a report on Friday, November 17th. Finally, Morgan Stanley set a $112.00 price objective on J M Smucker and gave the company a “sell” rating in a report on Friday, November 17th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $127.75.
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About J M Smucker
The J. M. Smucker Company is a manufacturer and marketer of branded food and beverage products and pet food and pet snacks in North America. The Company’s segments include U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Foodservice. The Company’s U.S. retail market segments consist of the sale of branded food products to consumers through retail outlets in North America.
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