J M Smucker (SJM) Issues Earnings Results
J M Smucker (NYSE:SJM) released its quarterly earnings data on Friday. The company reported $2.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.16 by $0.34, Bloomberg Earnings reports. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.89 billion. J M Smucker had a return on equity of 11.98% and a net margin of 7.72%. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.00 earnings per share. J M Smucker updated its FY18 guidance to $8.20-8.30 EPS.
Shares of J M Smucker (NYSE SJM) traded up $1.81 during midday trading on Friday, hitting $124.46. The company had a trading volume of 1,513,001 shares, compared to its average volume of 1,271,565. The firm has a market cap of $14,138.41, a PE ratio of 11.20, a PEG ratio of 2.12 and a beta of 0.65. The company has a current ratio of 0.96, a quick ratio of 0.42 and a debt-to-equity ratio of 0.61. J M Smucker has a 1 year low of $99.57 and a 1 year high of $143.68.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Friday, February 9th will be given a $0.78 dividend. The ex-dividend date is Thursday, February 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.51%. J M Smucker’s dividend payout ratio (DPR) is presently 28.08%.
In other J M Smucker news, SVP Jeannette L. Knudsen sold 1,600 shares of the stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $124.36, for a total transaction of $198,976.00. Following the completion of the sale, the senior vice president now directly owns 23,452 shares of the company’s stock, valued at approximately $2,916,490.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David J. Lemmon sold 1,205 shares of the stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $124.54, for a total value of $150,070.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,610 shares of company stock valued at $698,093. Insiders own 3.50% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Sit Investment Associates Inc. raised its stake in shares of J M Smucker by 234.0% during the 4th quarter. Sit Investment Associates Inc. now owns 885 shares of the company’s stock worth $110,000 after buying an additional 620 shares in the last quarter. Independence Bank of Kentucky purchased a new position in J M Smucker in the 4th quarter valued at approximately $173,000. Ramsay Stattman Vela & Price Inc. purchased a new position in J M Smucker in the 4th quarter valued at approximately $200,000. Avestar Capital LLC purchased a new position in J M Smucker in the 4th quarter valued at approximately $200,000. Finally, Flagship Harbor Advisors LLC purchased a new position in J M Smucker in the 3rd quarter valued at approximately $201,000. 76.10% of the stock is owned by institutional investors and hedge funds.
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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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