J M Smucker Co (NYSE:SJM) announced a quarterly dividend on Tuesday, July 23rd, RTT News reports. Stockholders of record on Friday, August 16th will be paid a dividend of 0.88 per share on Tuesday, September 3rd. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date is Thursday, August 15th. This is a boost from J M Smucker’s previous quarterly dividend of $0.85.
J M Smucker has increased its dividend by an average of 7.6% per year over the last three years and has raised its dividend every year for the last 17 years. J M Smucker has a dividend payout ratio of 41.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect J M Smucker to earn $8.87 per share next year, which means the company should continue to be able to cover its $3.52 annual dividend with an expected future payout ratio of 39.7%.
NYSE SJM opened at $114.00 on Wednesday. The firm has a market capitalization of $12.95 billion, a P/E ratio of 13.75, a PEG ratio of 3.26 and a beta of 0.42. The firm’s fifty day simple moving average is $114.80. J M Smucker has a 1 year low of $91.32 and a 1 year high of $128.43. The company has a quick ratio of 0.31, a current ratio of 0.69 and a debt-to-equity ratio of 0.59.
J M Smucker (NYSE:SJM) last posted its earnings results on Thursday, June 6th. The company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $0.11. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.94 billion. J M Smucker had a net margin of 6.56% and a return on equity of 11.80%. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.93 earnings per share. As a group, equities analysts predict that J M Smucker will post 8.52 earnings per share for the current year.
A number of research analysts have weighed in on the stock. Credit Suisse Group decreased their price objective on shares of J M Smucker from $120.00 to $114.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. Morgan Stanley upped their price objective on shares of J M Smucker from $117.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Friday, June 7th. TheStreet downgraded shares of J M Smucker from a “b-” rating to a “c+” rating in a research report on Tuesday, August 6th. Bank of America reiterated a “neutral” rating and issued a $107.00 price objective on shares of J M Smucker in a research report on Friday, May 17th. Finally, Wells Fargo & Co upped their price objective on shares of J M Smucker from $110.00 to $114.00 and gave the stock a “market perform” rating in a research report on Friday, June 7th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $115.44.
In related news, insider Mark R. Belgya sold 750 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $113.28, for a total transaction of $84,960.00. Following the completion of the sale, the insider now owns 54,942 shares of the company’s stock, valued at approximately $6,223,829.76. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Joseph Stanziano sold 319 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $119.20, for a total transaction of $38,024.80. Following the sale, the insider now directly owns 14,857 shares of the company’s stock, valued at approximately $1,770,954.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,269 shares of company stock valued at $372,201. Insiders own 3.70% of the company’s stock.
About J M Smucker
The J. M. Smucker Co engages in the manufacture and marketing of branded food and beverage products. It operates through the following segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The U. S. Retail Coffee segment includes the domestic sales of Folgers, Dunkin Donuts, and Cafe Bustelo branded coffee.
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