J. M. Smucker (NYSE:SJM) Shares Gap Up Following Better-Than-Expected Earnings

The J. M. Smucker Company (NYSE:SJMGet Free Report)’s stock price gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $110.33, but opened at $114.37. J. M. Smucker shares last traded at $115.45, with a volume of 346,826 shares traded.

The company reported $2.66 EPS for the quarter, beating analysts’ consensus estimates of $2.33 by $0.33. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.24 billion. J. M. Smucker had a positive return on equity of 14.29% and a negative net margin of 1.24%. J. M. Smucker’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.64 EPS.

J. M. Smucker Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were given a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date was Thursday, May 16th. J. M. Smucker’s payout ratio is -481.81%.

Analysts Set New Price Targets

SJM has been the topic of a number of research analyst reports. Citigroup cut their target price on J. M. Smucker from $153.00 to $152.00 and set a “buy” rating on the stock in a research note on Wednesday, February 28th. Stifel Nicolaus upgraded J. M. Smucker from a “hold” rating to a “buy” rating and set a $135.00 price objective for the company in a research note on Wednesday, February 28th. JPMorgan Chase & Co. lifted their target price on J. M. Smucker from $126.00 to $128.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. StockNews.com lowered shares of J. M. Smucker from a “hold” rating to a “sell” rating in a research report on Monday. Finally, TD Cowen lowered their price objective on shares of J. M. Smucker from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, J. M. Smucker has an average rating of “Hold” and an average target price of $136.07.

Read Our Latest Stock Report on SJM

Insider Activity at J. M. Smucker

In related news, insider Jeannette L. Knudsen sold 3,200 shares of J. M. Smucker stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $124.77, for a total value of $399,264.00. Following the completion of the transaction, the insider now directly owns 8,946 shares in the company, valued at approximately $1,116,192.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Campbell & CO Investment Adviser LLC bought a new position in J. M. Smucker during the 3rd quarter worth approximately $464,000. Citigroup Inc. boosted its holdings in shares of J. M. Smucker by 15.1% during the third quarter. Citigroup Inc. now owns 277,459 shares of the company’s stock worth $34,103,000 after purchasing an additional 36,296 shares during the period. Ardevora Asset Management LLP purchased a new position in J. M. Smucker during the 4th quarter valued at about $11,147,000. Cantor Fitzgerald Investment Advisors L.P. bought a new stake in shares of J. M. Smucker in the 4th quarter worth approximately $14,198,000. Finally, Mitchell Sinkler & Starr PA raised its holdings in shares of J. M. Smucker by 431.4% during the fourth quarter. Mitchell Sinkler & Starr PA now owns 9,433 shares of the company’s stock valued at $1,192,000 after acquiring an additional 7,658 shares in the last quarter. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

J. M. Smucker Price Performance

The company has a debt-to-equity ratio of 1.07, a current ratio of 0.78 and a quick ratio of 0.38. The business has a 50 day moving average of $114.03 and a 200 day moving average of $120.66. The company has a market cap of $12.25 billion, a PE ratio of -131.10, a price-to-earnings-growth ratio of 1.68 and a beta of 0.23.

J. M. Smucker Company Profile

(Get Free Report)

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, toppings, and syrups; jelly products; nut mix products; shortening and oils; 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

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