J. M. Smucker (NYSE:SJM) Posts Earnings Results, Beats Expectations By $0.21 EPS

J. M. Smucker (NYSE:SJMGet Rating) released its earnings results on Monday. The company reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.19 by $0.21, MarketWatch Earnings reports. J. M. Smucker had a return on equity of 11.31% and a net margin of 7.01%. The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter last year, the business posted $2.43 EPS. J. M. Smucker’s quarterly revenue was up 7.6% compared to the same quarter last year. J. M. Smucker updated its FY23 guidance to $8.35-8.75 EPS.

J. M. Smucker Price Performance

Shares of J. M. Smucker stock opened at $149.23 on Wednesday. The firm has a market cap of $15.90 billion, a PE ratio of 28.00, a price-to-earnings-growth ratio of 6.25 and a beta of 0.25. The company’s fifty day simple moving average is $143.21 and its two-hundred day simple moving average is $136.46. The company has a quick ratio of 0.45, a current ratio of 1.09 and a debt-to-equity ratio of 0.52. J. M. Smucker has a 12-month low of $119.82 and a 12-month high of $152.16.

J. M. Smucker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Friday, November 11th will be given a $1.02 dividend. The ex-dividend date of this dividend is Wednesday, November 9th. This represents a $4.08 annualized dividend and a yield of 2.73%. J. M. Smucker’s payout ratio is currently 76.55%.

Insider Transactions at J. M. Smucker

In other J. M. Smucker news, insider Jill R. Penrose sold 4,543 shares of the stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $140.83, for a total value of $639,790.69. Following the completion of the sale, the insider now owns 9,106 shares in the company, valued at approximately $1,282,397.98. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Richard K. Smucker sold 20,000 shares of the business’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $142.28, for a total transaction of $2,845,600.00. Following the transaction, the director now owns 631,010 shares in the company, valued at $89,780,102.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jill R. Penrose sold 4,543 shares of the stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $140.83, for a total transaction of $639,790.69. Following the completion of the transaction, the insider now directly owns 9,106 shares of the company’s stock, valued at $1,282,397.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 63,019 shares of company stock worth $8,995,996. Company insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On J. M. Smucker

Several institutional investors and hedge funds have recently made changes to their positions in SJM. Eagle Bay Advisors LLC purchased a new position in J. M. Smucker in the 2nd quarter worth about $27,000. Centaurus Financial Inc. bought a new position in J. M. Smucker during the first quarter valued at approximately $138,000. Covestor Ltd boosted its holdings in J. M. Smucker by 57.5% in the first quarter. Covestor Ltd now owns 1,263 shares of the company’s stock worth $171,000 after purchasing an additional 461 shares during the last quarter. Merit Financial Group LLC bought a new stake in J. M. Smucker in the 1st quarter worth approximately $213,000. Finally, Toroso Investments LLC purchased a new stake in J. M. Smucker during the 1st quarter valued at $220,000. Institutional investors own 79.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on SJM shares. Bank of America raised J. M. Smucker from a “neutral” rating to a “buy” rating and upped their price target for the company from $145.00 to $155.00 in a research report on Wednesday, August 17th. Exane BNP Paribas began coverage on shares of J. M. Smucker in a research report on Tuesday, November 15th. They set an “underperform” rating on the stock. The Goldman Sachs Group restated a “sell” rating and set a $123.00 target price on shares of J. M. Smucker in a report on Monday. Morgan Stanley raised their target price on shares of J. M. Smucker from $132.00 to $135.00 and gave the stock an “underweight” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. raised their target price on shares of J. M. Smucker from $153.00 to $158.00 and gave the company a “neutral” rating in a research report on Tuesday. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $141.36.

About J. M. Smucker

(Get Rating)

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.

Featured Stories

Earnings History for J. M. Smucker (NYSE:SJM)

Receive News & Ratings for J. M. Smucker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for J. M. Smucker and related companies with MarketBeat.com's FREE daily email newsletter.