J M Smucker (NYSE:SJM) posted its earnings results on Friday. The company reported $2.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.16 by $0.34, Bloomberg Earnings reports. The firm 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 company’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period 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 down $2.95 during trading hours on Friday, hitting $119.70. The stock had a trading volume of 390,306 shares, compared to its average volume of 1,109,323. J M Smucker has a 12 month low of $99.57 and a 12 month high of $143.68. The company has a market capitalization of $13,746.45, a PE ratio of 25.25, a PEG ratio of 2.06 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.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Friday, February 9th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend is Thursday, February 8th. J M Smucker’s dividend payout ratio is presently 63.03%.
Several research firms have issued reports on SJM. Jefferies Group reissued a “buy” rating and issued a $135.00 price target on shares of J M Smucker in a research note on Friday. Susquehanna Bancshares set a $148.00 price target on J M Smucker and gave the company a “buy” rating in a research note on Monday. Credit Suisse Group set a $120.00 price target on J M Smucker and gave the company a “hold” rating in a research note on Wednesday, January 10th. Wells Fargo & Co set a $128.00 price target on J M Smucker and gave the company a “hold” rating in a research note on Thursday, January 4th. Finally, Stifel Nicolaus lifted their target price on J M Smucker from $109.00 to $113.00 and gave the company a “hold” rating in a research report on Friday, November 17th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $127.58.
In related news, insider David J. Lemmon sold 1,205 shares of the business’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jeannette L. Knudsen sold 1,600 shares of the business’s stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $124.36, for a total value of $198,976.00. Following the completion of the sale, the senior vice president now owns 23,452 shares of the company’s stock, valued at $2,916,490.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,610 shares of company stock valued at $698,093. Corporate insiders own 3.50% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. LSV Asset Management raised its position in J M Smucker by 44.8% during the fourth quarter. LSV Asset Management now owns 2,081,093 shares of the company’s stock valued at $258,554,000 after purchasing an additional 643,817 shares in the last quarter. Dimensional Fund Advisors LP raised its position in J M Smucker by 1.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,733,594 shares of the company’s stock valued at $181,908,000 after purchasing an additional 27,182 shares in the last quarter. Ariel Investments LLC raised its position in J M Smucker by 18.8% during the fourth quarter. Ariel Investments LLC now owns 1,611,582 shares of the company’s stock valued at $200,223,000 after purchasing an additional 254,864 shares in the last quarter. Geode Capital Management LLC raised its position in J M Smucker by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 1,508,493 shares of the company’s stock valued at $187,100,000 after purchasing an additional 51,463 shares in the last quarter. Finally, Schroder Investment Management Group raised its position in J M Smucker by 4.4% during the third quarter. Schroder Investment Management Group now owns 1,217,700 shares of the company’s stock valued at $128,005,000 after purchasing an additional 50,960 shares in the last quarter. Institutional investors and hedge funds own 76.10% of the company’s stock.
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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