William Blair Equities Analysts Lower Earnings Estimates for The J. M. Smucker Company (NYSE:SJM)

The J. M. Smucker Company (NYSE:SJMGet Rating) – Stock analysts at William Blair lowered their Q3 2023 earnings estimates for J. M. Smucker in a report issued on Monday, November 21st. William Blair analyst J. Andersen now anticipates that the company will earn $2.40 per share for the quarter, down from their prior forecast of $2.45. The consensus estimate for J. M. Smucker’s current full-year earnings is $8.66 per share. William Blair also issued estimates for J. M. Smucker’s Q4 2023 earnings at $2.44 EPS.

J. M. Smucker (NYSE:SJMGet Rating) last issued its quarterly earnings results on Monday, November 21st. The company reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.19 by $0.21. J. M. Smucker had a return on equity of 11.31% and a net margin of 7.01%. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the prior year, the business posted $2.43 EPS. J. M. Smucker’s revenue for the quarter was up 7.6% compared to the same quarter last year.

A number of other equities analysts have also weighed in on SJM. Credit Suisse Group upped their target price on shares of J. M. Smucker from $140.00 to $145.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 24th. StockNews.com initiated coverage on shares of J. M. Smucker in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. UBS Group boosted their target price on shares of J. M. Smucker to $128.00 in a report on Monday. Stifel Nicolaus increased their price target on shares of J. M. Smucker from $140.00 to $148.00 in a report on Wednesday, August 24th. Finally, Exane BNP Paribas began coverage on J. M. Smucker in a research report on Tuesday, November 15th. They set an “underperform” rating on the stock. Six investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $141.50.

J. M. Smucker Stock Performance

NYSE:SJM opened at $149.47 on Thursday. The stock has a 50-day moving average price of $143.62 and a 200 day moving average price of $136.64. The company has a current ratio of 1.09, a quick ratio of 0.45 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. The stock has a market capitalization of $15.93 billion, a P/E ratio of 28.04, a P/E/G ratio of 6.22 and a beta of 0.25.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Commonwealth Equity Services LLC lifted its holdings in shares of J. M. Smucker by 3.0% during the 1st quarter. Commonwealth Equity Services LLC now owns 62,322 shares of the company’s stock valued at $8,439,000 after purchasing an additional 1,839 shares during the last quarter. Private Advisor Group LLC increased its position in J. M. Smucker by 1.6% during the 2nd quarter. Private Advisor Group LLC now owns 17,770 shares of the company’s stock valued at $2,275,000 after buying an additional 281 shares in the last quarter. Brown Brothers Harriman & Co. boosted its stake in J. M. Smucker by 36.2% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 594 shares of the company’s stock worth $76,000 after purchasing an additional 158 shares in the last quarter. ACG Wealth acquired a new position in shares of J. M. Smucker in the 2nd quarter valued at $90,000. Finally, AIA Group Ltd raised its stake in J. M. Smucker by 41.4% in the 1st quarter. AIA Group Ltd now owns 1,857 shares of the company’s stock worth $251,000 after acquiring an additional 544 shares during the last quarter. Institutional investors own 79.56% of the company’s stock.

Insiders Place Their Bets

In other J. M. Smucker news, insider Jill R. Penrose sold 4,543 shares of the stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $140.83, for a total transaction of $639,790.69. Following the transaction, the insider now directly owns 9,106 shares in the company, valued at approximately $1,282,397.98. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.90% of the stock is currently owned by company insiders.

J. M. Smucker Announces Dividend

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

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.

Further Reading

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

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