J.M. Smucker Co. (SJM) Issues Earnings Results, Beats Expectations By $0.12 EPS
J.M. Smucker Co. (NYSE:SJM) posted its quarterly earnings data on Thursday. The company reported $2.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.93 by $0.12. J.M. Smucker had a net margin of 9.41% and a return on equity of 11.76%. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $2 billion. During the same period in the prior year, the company posted $1.62 EPS. The firm’s revenue for the quarter was down 7.9% on a year-over-year basis. J.M. Smucker updated its FY17 guidance to $7.60-7.75 EPS.
J.M. Smucker (NYSE:SJM) opened at 124.85 on Friday. The stock has a market cap of $14.53 billion, a PE ratio of 20.53 and a beta of 0.56. J.M. Smucker has a 12-month low of $116.42 and a 12-month 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 business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Friday, November 11th will be issued a $0.75 dividend. The ex-dividend date is Tuesday, November 8th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.40%. J.M. Smucker’s dividend payout ratio is currently 49.26%.
Several large investors have recently added to or reduced their stakes in SJM. Massachusetts Financial Services Co. MA increased its stake in J.M. Smucker by 104.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,532,054 shares of the company’s stock worth $538,319,000 after buying an additional 1,806,455 shares during the period. Fundsmith LLP increased its stake in J.M. Smucker by 68.3% in the second quarter. Fundsmith LLP now owns 3,450,789 shares of the company’s stock worth $525,935,000 after buying an additional 1,399,810 shares during the period. Vanguard Group Inc. increased its stake in J.M. Smucker by 3.4% in the second quarter. Vanguard Group Inc. now owns 11,223,633 shares of the company’s stock worth $1,710,593,000 after buying an additional 366,506 shares during the period. Price T Rowe Associates Inc. MD increased its stake in J.M. Smucker by 124.0% in the third quarter. Price T Rowe Associates Inc. MD now owns 611,060 shares of the company’s stock worth $82,823,000 after buying an additional 338,282 shares during the period. Finally, APG Asset Management N.V. increased its stake in J.M. Smucker by 170.9% in the third quarter. APG Asset Management N.V. now owns 465,428 shares of the company’s stock worth $63,084,000 after buying an additional 293,600 shares during the period. 76.39% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on the stock. Zacks Investment Research lowered shares of J.M. Smucker from a “hold” rating to a “sell” rating in a research report on Tuesday, October 25th. Credit Suisse Group AG reaffirmed a “buy” rating and set a $158.00 target price on shares of J.M. Smucker in a research report on Wednesday, August 24th. Morgan Stanley reaffirmed a “hold” rating and set a $142.00 target price on shares of J.M. Smucker in a research report on Wednesday, August 24th. Susquehanna reaffirmed a “hold” rating and set a $139.00 target price on shares of J.M. Smucker in a research report on Tuesday, September 6th. Finally, Deutsche Bank AG set a $165.00 target price on shares of J.M. Smucker and gave the stock a “buy” rating in a research report on Thursday, August 18th. One analyst has rated the stock with a sell rating, nine have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. J.M. Smucker currently has a consensus rating of “Hold” and an average price target of $145.70.
J.M. Smucker Company Profile
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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