J. M. Smucker (NYSE:SJM – Get 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
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
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.
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