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

J. M. Smucker (NYSE:SJMGet Rating) announced its quarterly earnings results on Monday. The company reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same period in the previous year, the company posted $2.43 earnings per share. J. M. Smucker’s revenue for the quarter was up 7.6% on a year-over-year basis. J. M. Smucker updated its FY23 guidance to $8.35-8.75 EPS.

J. M. Smucker Stock Performance

NYSE:SJM opened at $148.11 on Tuesday. The firm’s fifty day moving average price is $143.01 and its 200 day moving average price is $136.40. J. M. Smucker has a 1-year low of $119.82 and a 1-year high of $152.16. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.05 and a quick ratio of 0.45. The firm has a market cap of $15.78 billion, a price-to-earnings ratio of 27.23, a price-to-earnings-growth ratio of 6.17 and a beta of 0.25.

J. M. Smucker Dividend Announcement

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 given a $1.02 dividend. The ex-dividend date is Wednesday, November 9th. This represents a $4.08 dividend on an annualized basis and a yield of 2.75%. J. M. Smucker’s dividend payout ratio (DPR) is 75.00%.

Analyst Ratings Changes

SJM has been the subject of several research analyst reports. Morgan Stanley upped their target price on J. M. Smucker from $117.00 to $132.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 24th. Deutsche Bank Aktiengesellschaft upped their target price on J. M. Smucker from $143.00 to $145.00 and gave the stock a “hold” rating in a research note on Monday, November 14th. UBS Group upped their target price on J. M. Smucker to $128.00 in a research note on Monday. The Goldman Sachs Group reaffirmed a “sell” rating and set a $123.00 target price on shares of J. M. Smucker in a research note on Monday. Finally, StockNews.com began coverage on J. M. Smucker in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $139.45.

Insiders Place Their Bets

In other J. M. Smucker news, insider Amy C. Held sold 8,701 shares of the business’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $143.39, for a total transaction of $1,247,636.39. Following the sale, the insider now directly owns 3,916 shares in the company, valued at approximately $561,515.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other J. M. Smucker news, insider Amy C. Held sold 8,701 shares of the business’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $143.39, for a total transaction of $1,247,636.39. Following the sale, the insider now directly owns 3,916 shares in the company, valued at approximately $561,515.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Tucker H. Marshall sold 19,775 shares of the business’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $143.25, for a total transaction of $2,832,768.75. Following the sale, the chief financial officer now owns 7,668 shares in the company, valued at $1,098,441. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 63,019 shares of company stock worth $8,995,996. Corporate insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SJM. Eagle Bay Advisors LLC acquired a new position in shares of J. M. Smucker during the 2nd quarter worth $27,000. Centaurus Financial Inc. acquired a new position in J. M. Smucker in the 1st quarter valued at about $138,000. Covestor Ltd raised its stake in J. M. Smucker by 57.5% in 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 during the last quarter. Merit Financial Group LLC acquired a new position in J. M. Smucker in the 1st quarter valued at about $213,000. Finally, Toroso Investments LLC acquired a new position in J. M. Smucker in the 1st quarter valued at about $220,000. Institutional investors and hedge funds own 79.56% of the company’s stock.

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.

Further Reading

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

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