J.M. Smucker Co. (SJM) Releases FY17 Earnings Guidance
J.M. Smucker Co. (NYSE:SJM) updated its FY17 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $7.60-7.75 for the period, compared to the Thomson Reuters consensus estimate of $7.68. The company issued revenue guidance of flat to -1%, compared to the consensus revenue estimate of $7.59 billion.
SJM has been the topic of several recent research reports. Zacks Investment Research upgraded J.M. Smucker from a sell rating to a hold rating in a report on Wednesday. Deutsche Bank AG set a $165.00 price objective on J.M. Smucker and gave the company a buy rating in a report on Thursday, August 18th. Susquehanna reiterated a hold rating and issued a $139.00 price objective on shares of J.M. Smucker in a report on Tuesday, September 6th. Morgan Stanley reiterated a hold rating and issued a $142.00 price objective on shares of J.M. Smucker in a report on Wednesday, August 24th. Finally, Hilliard Lyons upgraded J.M. Smucker from an underperform rating to a neutral rating in a report on Thursday, September 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $145.70.
J.M. Smucker Co. (NYSE:SJM) opened at 125.86 on Thursday. J.M. Smucker Co. has a 1-year low of $116.42 and a 1-year high of $157.31. The firm has a 50-day moving average of $131.63 and a 200 day moving average of $139.68. The firm has a market cap of $14.65 billion, a price-to-earnings ratio of 20.69 and a beta of 0.56.
J.M. Smucker (NYSE:SJM) last released its quarterly earnings data on Thursday, November 17th. The company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.12. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $2 billion. J.M. Smucker had a net margin of 9.41% and a return on equity of 11.76%. J.M. Smucker’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.62 EPS. Analysts expect that J.M. Smucker Co. will post $7.68 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Friday, November 11th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $3.00 annualized dividend and a dividend yield of 2.31%. J.M. Smucker’s dividend payout ratio is presently 49.26%.
A number of institutional investors have recently added to or reduced their stakes in the company. LPL Financial LLC boosted its position in J.M. Smucker by 14.6% in the third quarter. LPL Financial LLC now owns 11,502 shares of the company’s stock worth $1,532,000 after buying an additional 1,468 shares during the period. Credit Suisse AG boosted its stake in shares of J.M. Smucker by 10.2% in the third quarter. Credit Suisse AG now owns 278,267 shares of the company’s stock worth $37,717,000 after buying an additional 25,694 shares during the last quarter. Eaton Vance Management boosted its stake in shares of J.M. Smucker by 8.8% in the third quarter. Eaton Vance Management now owns 67,064 shares of the company’s stock worth $9,090,000 after buying an additional 5,409 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of J.M. Smucker during the third quarter worth about $108,000. Finally, Point72 Asia Hong Kong Ltd boosted its stake in shares of J.M. Smucker by 400.0% in the second quarter. Point72 Asia Hong Kong Ltd now owns 1,000 shares of the company’s stock worth $152,000 after buying an additional 800 shares during the last quarter. 76.39% of the stock is owned by hedge funds and other institutional investors.
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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