Wall Street brokerages expect The J. M. Smucker Company (NYSE:SJM) to report sales of $2.05 billion for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for J. M. Smucker’s earnings, with the lowest sales estimate coming in at $2.03 billion and the highest estimate coming in at $2.08 billion. J. M. Smucker posted sales of $2.08 billion during the same quarter last year, which would indicate a negative year over year growth rate of 1.4%. The company is scheduled to announce its next quarterly earnings results on Thursday, February 24th.
On average, analysts expect that J. M. Smucker will report full-year sales of $8.01 billion for the current fiscal year, with estimates ranging from $8.00 billion to $8.03 billion. For the next financial year, analysts anticipate that the firm will report sales of $8.10 billion, with estimates ranging from $7.88 billion to $8.33 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for J. M. Smucker.
J. M. Smucker (NYSE:SJM) last released its quarterly earnings data on Tuesday, November 23rd. The company reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.39. J. M. Smucker had a net margin of 10.06% and a return on equity of 11.64%. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the previous year, the business earned $2.39 EPS. J. M. Smucker’s quarterly revenue was up .8% compared to the same quarter last year.
Institutional investors have recently modified their holdings of the company. Boston Trust Walden Corp boosted its position in shares of J. M. Smucker by 8.2% during the 2nd quarter. Boston Trust Walden Corp now owns 308,684 shares of the company’s stock valued at $39,996,000 after acquiring an additional 23,512 shares in the last quarter. Ergoteles LLC acquired a new stake in shares of J. M. Smucker during the 2nd quarter valued at about $1,099,000. CIBC Asset Management Inc boosted its position in shares of J. M. Smucker by 9.2% during the 2nd quarter. CIBC Asset Management Inc now owns 30,272 shares of the company’s stock valued at $3,922,000 after acquiring an additional 2,555 shares in the last quarter. Tandem Investment Advisors Inc. boosted its position in shares of J. M. Smucker by 8.8% during the 2nd quarter. Tandem Investment Advisors Inc. now owns 371,884 shares of the company’s stock valued at $48,185,000 after acquiring an additional 29,974 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of J. M. Smucker by 0.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 952,597 shares of the company’s stock valued at $123,427,000 after acquiring an additional 8,640 shares in the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.
SJM stock opened at $132.30 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.31 and a debt-to-equity ratio of 0.43. J. M. Smucker has a 1 year low of $110.53 and a 1 year high of $140.65. The company has a fifty day simple moving average of $123.59 and a 200 day simple moving average of $128.19. The firm has a market cap of $14.34 billion, a PE ratio of 18.61, a PEG ratio of 12.55 and a beta of 0.32.
J. M. Smucker announced that its Board of Directors has authorized a stock repurchase plan on Friday, October 22nd that allows the company to buyback 5,000,000 outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 1st. Stockholders of record on Friday, November 12th will be issued a dividend of $0.99 per share. The ex-dividend date of this dividend is Wednesday, November 10th. This represents a $3.96 annualized dividend and a dividend yield of 2.99%. J. M. Smucker’s payout ratio is 55.70%.
J. M. Smucker Company Profile
The J. M. Smucker Co engages in the manufacture and marketing of 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 domestic sales of Folgers, Dunkin’ Donuts, and Café Bustelo branded coffee.
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