J. M. Smucker (NYSE:SJM – Get Rating) updated its FY 2023 earnings guidance on Tuesday. The company provided EPS guidance of $8.20-$8.60 for the period, compared to the consensus EPS estimate of $8.04. The company issued revenue guidance of $8.32 billion-$8.40 billion, compared to the consensus revenue estimate of $8.28 billion.
Analysts Set New Price Targets
Several equities analysts have issued reports on the stock. Citigroup lifted their price target on shares of J. M. Smucker to $137.00 in a report on Thursday, June 9th. Stifel Nicolaus lifted their price target on shares of J. M. Smucker from $140.00 to $148.00 in a report on Wednesday, August 24th. Bank of America raised shares of J. M. Smucker from a neutral rating to a buy rating and lifted their price target for the stock from $145.00 to $155.00 in a report on Wednesday, August 17th. Consumer Edge lowered shares of J. M. Smucker from an equal weight rating to an underweight rating in a report on Thursday, June 16th. Finally, UBS Group lifted their price target on shares of J. M. Smucker from $122.00 to $127.00 and gave the stock a sell rating in a report on Wednesday, August 24th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $138.82.
J. M. Smucker Stock Performance
Shares of SJM stock traded down $2.49 on Friday, hitting $139.54. The company had a trading volume of 10,399 shares, compared to its average volume of 709,785. The firm has a market cap of $14.87 billion, a P/E ratio of 26.11, a price-to-earnings-growth ratio of 5.94 and a beta of 0.22. The company has a 50-day moving average price of $136.71 and a 200-day moving average price of $134.05. The company has a quick ratio of 0.45, a current ratio of 1.05 and a debt-to-equity ratio of 0.53. J. M. Smucker has a twelve month low of $119.09 and a twelve month high of $146.74.
J. M. Smucker Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Friday, August 12th were paid a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 2.92%. The ex-dividend date was Thursday, August 11th. This is a positive change from J. M. Smucker’s previous quarterly dividend of $0.99. J. M. Smucker’s payout ratio is currently 75.00%.
Insider Activity at J. M. Smucker
In related news, CFO Tucker H. Marshall sold 19,775 shares of J. M. Smucker stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $143.25, for a total value of $2,832,768.75. Following the completion of the transaction, the chief financial officer now owns 7,668 shares in the company, valued at approximately $1,098,441. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other J. M. Smucker news, insider Jill R. Penrose sold 4,543 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $140.83, for a total transaction of $639,790.69. Following the completion of the sale, the insider now directly owns 9,106 shares in the company, valued at approximately $1,282,397.98. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Tucker H. Marshall sold 19,775 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $143.25, for a total value of $2,832,768.75. Following the sale, the chief financial officer now owns 7,668 shares of the company’s stock, valued at $1,098,441. The disclosure for this sale can be found here. Insiders sold a total of 63,019 shares of company stock worth $8,995,996 in the last 90 days. Corporate insiders own 3.90% of the company’s stock.
Institutional Investors Weigh In On J. M. Smucker
Large investors have recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. lifted its holdings in J. M. Smucker by 13.9% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 9,815 shares of the company’s stock valued at $1,329,000 after acquiring an additional 1,200 shares during the last quarter. Edgestream Partners L.P. acquired a new position in J. M. Smucker in the first quarter valued at approximately $1,136,000. Atria Wealth Solutions Inc. acquired a new position in J. M. Smucker in the first quarter valued at approximately $742,000. Kinneret Advisory LLC lifted its holdings in J. M. Smucker by 2.3% in the first quarter. Kinneret Advisory LLC now owns 3,302 shares of the company’s stock valued at $447,000 after acquiring an additional 74 shares during the last quarter. Finally, Horizon Investments LLC lifted its holdings in J. M. Smucker by 17.4% in the first quarter. Horizon Investments LLC now owns 3,269 shares of the company’s stock valued at $440,000 after acquiring an additional 484 shares during the last quarter. 79.56% of the stock is currently owned by hedge funds and other institutional investors.
J. M. Smucker Company Profile
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.
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