J.M. Smucker Company (The) (NYSE:SJM) shares reached a new 52-week low during trading on Thursday following a weaker than expected earnings announcement. The stock traded as low as $109.20 and last traded at $109.11, with a volume of 3,329,591 shares changing hands. The stock had previously closed at $118.85.
The company reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.61 by $0.10. J.M. Smucker Company (The) had a net margin of 8.01% and a return on equity of 12.63%. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter in the previous year, the firm posted $1.86 earnings per share. J.M. Smucker Company (The)’s revenue for the quarter was down 3.7% compared to the same quarter last year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 11th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.90%. This is an increase from J.M. Smucker Company (The)’s previous quarterly dividend of $0.75. The ex-dividend date is Wednesday, August 9th. J.M. Smucker Company (The)’s payout ratio is presently 61.18%.
SJM has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of J.M. Smucker Company (The) from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Credit Suisse Group reiterated a “neutral” rating and set a $120.00 price objective (down from $126.00) on shares of J.M. Smucker Company (The) in a research note on Monday, July 3rd. They noted that the move was a valuation call. Jefferies Group LLC upgraded shares of J.M. Smucker Company (The) from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $130.00 to $140.00 in a research note on Friday, July 28th. Citigroup Inc. decreased their price objective on shares of J.M. Smucker Company (The) from $161.00 to $155.00 and set a “buy” rating for the company in a research note on Tuesday, May 9th. Finally, Hilliard Lyons upgraded shares of J.M. Smucker Company (The) from a “neutral” rating to a “long-term buy” rating and set a $140.00 price objective for the company in a research note on Tuesday, July 11th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $130.18.
In other news, insider Steven Oakland sold 6,047 shares of the business’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $122.00, for a total transaction of $737,734.00. Following the transaction, the insider now directly owns 47,667 shares of the company’s stock, valued at $5,815,374. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Barry C. Dunaway sold 9,433 shares of the business’s stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $121.32, for a total transaction of $1,144,411.56. Following the transaction, the insider now directly owns 40,966 shares in the company, valued at $4,969,995.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,030 shares of company stock worth $1,948,195. Corporate insiders own 3.50% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Boston Advisors LLC boosted its position in J.M. Smucker Company (The) by 2.9% in the first quarter. Boston Advisors LLC now owns 2,172 shares of the company’s stock worth $285,000 after buying an additional 62 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in J.M. Smucker Company (The) by 2.7% in the first quarter. Nisa Investment Advisors LLC now owns 17,496 shares of the company’s stock worth $2,293,000 after buying an additional 455 shares during the last quarter. Quantitative Systematic Strategies LLC purchased a new position in J.M. Smucker Company (The) during the first quarter worth approximately $253,000. Retirement Systems of Alabama boosted its position in J.M. Smucker Company (The) by 2.0% in the first quarter. Retirement Systems of Alabama now owns 56,277 shares of the company’s stock worth $7,377,000 after buying an additional 1,090 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. boosted its position in J.M. Smucker Company (The) by 1.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,105 shares of the company’s stock worth $381,000 after buying an additional 37 shares during the last quarter. 75.09% of the stock is currently owned by institutional investors and hedge funds.
The company has a 50-day moving average price of $119.46 and a 200-day moving average price of $127.65. The stock has a market cap of $12.20 billion, a price-to-earnings ratio of 21.08 and a beta of 0.62.
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J.M. Smucker Company (The) Company Profile
The J. M. Smucker Company is a manufacturer and marketer of branded food and beverage products and pet food and pet snacks in North America. The Company’s segments include U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Foodservice. The Company’s U.S. retail market segments consist of the sale of branded food products to consumers through retail outlets in North America.
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