J. M. Smucker (NYSE:SJM) Announces Quarterly Earnings Results

J. M. Smucker (NYSE:SJMGet Rating) released its quarterly earnings results on Tuesday. The company reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.35, RTT News reports. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.98 billion. J. M. Smucker had a return on equity of 11.30% and a net margin of 7.31%. J. M. Smucker’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.89 earnings per share. J. M. Smucker updated its FY23 guidance to $7.85-8.25 EPS.

SJM stock opened at $123.26 on Tuesday. The company has a current ratio of 1.19, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. J. M. Smucker has a 12-month low of $118.55 and a 12-month high of $146.74. The stock has a market cap of $13.37 billion, a price-to-earnings ratio of 23.21 and a beta of 0.28. The business’s 50-day moving average is $135.70 and its 200 day moving average is $135.30.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 1st. Stockholders of record on Friday, May 13th were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date was Thursday, May 12th. J. M. Smucker’s dividend payout ratio (DPR) is presently 74.58%.

A number of hedge funds have recently bought and sold shares of SJM. Kinneret Advisory LLC boosted its holdings in shares of J. M. Smucker by 2.3% during the 1st quarter. Kinneret Advisory LLC now owns 3,302 shares of the company’s stock worth $447,000 after purchasing an additional 74 shares during the last quarter. Belpointe Asset Management LLC boosted its holdings in shares of J. M. Smucker by 7.3% during the 4th quarter. Belpointe Asset Management LLC now owns 1,405 shares of the company’s stock worth $191,000 after purchasing an additional 95 shares during the last quarter. Ulland Investment Advisors LLC acquired a new position in shares of J. M. Smucker during the 4th quarter worth approximately $31,000. Horizon Investments LLC raised its position in shares of J. M. Smucker by 10.9% during the 4th quarter. Horizon Investments LLC now owns 2,785 shares of the company’s stock valued at $376,000 after buying an additional 273 shares during the period. Finally, Peapack Gladstone Financial Corp raised its position in shares of J. M. Smucker by 6.3% during the 4th quarter. Peapack Gladstone Financial Corp now owns 6,766 shares of the company’s stock valued at $919,000 after buying an additional 398 shares during the period. Institutional investors own 83.02% of the company’s stock.

A number of research firms have recently weighed in on SJM. Deutsche Bank Aktiengesellschaft dropped their price objective on J. M. Smucker from $134.00 to $133.00 in a research note on Wednesday, June 1st. UBS Group assumed coverage on J. M. Smucker in a research report on Wednesday, March 30th. They issued a “sell” rating and a $123.00 target price on the stock. The Goldman Sachs Group upped their price objective on J. M. Smucker from $107.00 to $111.00 in a research report on Thursday, February 17th. JPMorgan Chase & Co. reduced their price target on J. M. Smucker from $144.00 to $143.00 and set a “neutral” rating on the stock in a report on Wednesday, March 2nd. Finally, StockNews.com started coverage on J. M. Smucker in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $132.25.

J. M. Smucker Company Profile (Get Rating)

The J. M. Smucker Company manufactures and markets branded food and beverage products worldwide. It operates in four segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The company offers mainstream roast, ground, single serve, and premium coffee; peanut butter and specialty spreads; fruit spreads, shortening and oils, and frozen sandwiches; 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 ingredient.

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

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