Analysts Expect J M Smucker Co (NYSE:SJM) Will Announce Quarterly Sales of $1.81 Billion

Wall Street analysts expect that J M Smucker Co (NYSE:SJM) will post sales of $1.81 billion for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for J M Smucker’s earnings, with estimates ranging from $1.79 billion to $1.82 billion. J M Smucker reported sales of $1.78 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 1.7%. The business is expected to issue its next earnings results on Tuesday, August 25th.

According to Zacks, analysts expect that J M Smucker will report full year sales of $7.67 billion for the current financial year, with estimates ranging from $7.63 billion to $7.70 billion. For the next financial year, analysts expect that the company will report sales of $7.76 billion, with estimates ranging from $7.67 billion to $7.85 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for J M Smucker.

J M Smucker (NYSE:SJM) last issued its quarterly earnings data on Thursday, June 4th. The company reported $2.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.28 by $0.29. J M Smucker had a return on equity of 12.31% and a net margin of 9.99%. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same period last year, the business earned $2.08 earnings per share. The business’s revenue was up 10.0% on a year-over-year basis.

A number of analysts have recently commented on SJM shares. ValuEngine lowered J M Smucker from a “hold” rating to a “sell” rating in a report on Thursday, June 4th. Sanford C. Bernstein cut shares of J M Smucker from a “market perform” rating to an “underperform” rating and reduced their target price for the stock from $105.00 to $93.00 in a report on Thursday, June 11th. Deutsche Bank lifted their target price on J M Smucker from $110.00 to $124.00 and gave the company a “hold” rating in a research report on Tuesday, April 21st. They noted that the move was a valuation call. JPMorgan Chase & Co. upped their target price on shares of J M Smucker from $108.00 to $123.00 and gave the company a “neutral” rating in a report on Friday, April 17th. Finally, Guggenheim reduced their price target on J M Smucker from $98.00 to $96.00 and set a “sell” rating for the company in a research note on Thursday, May 28th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $113.46.

NYSE SJM traded down $0.20 during trading on Tuesday, reaching $105.02. 925,708 shares of the stock traded hands, compared to its average volume of 1,190,054. The company has a quick ratio of 0.68, a current ratio of 1.24 and a debt-to-equity ratio of 0.67. J M Smucker has a fifty-two week low of $91.88 and a fifty-two week high of $125.62. The stock’s 50-day moving average price is $109.26 and its 200 day moving average price is $108.83. The firm has a market cap of $11.98 billion, a price-to-earnings ratio of 15.38, a price-to-earnings-growth ratio of 5.92 and a beta of 0.13.

In other J M Smucker news, insider Mark R. Belgya sold 7,807 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $108.74, for a total value of $848,933.18. Following the completion of the transaction, the insider now directly owns 43,604 shares in the company, valued at approximately $4,741,498.96. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Mark R. Belgya sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $110.00, for a total transaction of $82,500.00. Following the completion of the transaction, the insider now owns 47,442 shares of the company’s stock, valued at $5,218,620. The disclosure for this sale can be found here. Insiders have sold a total of 9,307 shares of company stock worth $1,019,273 over the last three months. Insiders own 3.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in SJM. JPMorgan Chase & Co. boosted its position in shares of J M Smucker by 13.7% during the 1st quarter. JPMorgan Chase & Co. now owns 209,636 shares of the company’s stock valued at $23,270,000 after purchasing an additional 25,232 shares in the last quarter. Schroder Investment Management Group increased its position in J M Smucker by 382.5% in the 1st quarter. Schroder Investment Management Group now owns 1,954 shares of the company’s stock valued at $225,000 after buying an additional 1,549 shares in the last quarter. APG Asset Management N.V. acquired a new position in J M Smucker during the 1st quarter worth approximately $26,599,000. Franklin Resources Inc. boosted its holdings in J M Smucker by 17.6% in the fourth quarter. Franklin Resources Inc. now owns 70,863 shares of the company’s stock worth $7,379,000 after acquiring an additional 10,611 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in J M Smucker by 14.4% in the first quarter. Victory Capital Management Inc. now owns 273,200 shares of the company’s stock valued at $30,325,000 after acquiring an additional 34,322 shares during the period. Hedge funds and other institutional investors own 77.91% of the company’s stock.

About J M Smucker

The J. M. Smucker Co engages in the manufacture and marketing of branded food and beverage products. It operates through the following segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The U. S. Retail Coffee segment includes the domestic sales of Folgers, Dunkin Donuts, and Cafe Bustelo branded coffee.

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Earnings History and Estimates for J M Smucker (NYSE:SJM)

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