J. M. Smucker (NYSE:SJM) Shares Gap Up After Earnings Beat

Shares of The J. M. Smucker Company (NYSE:SJM) gapped up before the market opened on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $113.62, but opened at $120.00. J. M. Smucker shares last traded at $122.13, with a volume of 716,873 shares changing hands.

The company reported $2.76 EPS for the quarter, topping the consensus estimate of $2.49 by $0.27. The firm had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.27 billion. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. The business’s quarterly revenue was up 17.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.59 earnings per share.

J. M. Smucker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend is Friday, November 15th. J. M. Smucker’s dividend payout ratio (DPR) is 61.10%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SJM. Wells Fargo & Company reduced their target price on shares of J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, August 29th. TD Cowen cut their price target on shares of J. M. Smucker from $135.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Citigroup cut their price target on shares of J. M. Smucker from $138.00 to $136.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. DA Davidson restated a “neutral” rating and set a $121.00 price target on shares of J. M. Smucker in a research note on Thursday, August 29th. Finally, Barclays dropped their price objective on shares of J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating for the company in a report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $127.09.

Institutional Investors Weigh In On J. M. Smucker

Several institutional investors have recently added to or reduced their stakes in SJM. Quadrature Capital Ltd bought a new stake in J. M. Smucker in the 1st quarter valued at $554,000. BOKF NA increased its stake in J. M. Smucker by 20.7% in the 1st quarter. BOKF NA now owns 8,209 shares of the company’s stock valued at $1,024,000 after buying an additional 1,408 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in J. M. Smucker by 0.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 145,306 shares of the company’s stock valued at $18,291,000 after buying an additional 1,239 shares during the last quarter. Mount Yale Investment Advisors LLC acquired a new stake in J. M. Smucker in the 1st quarter valued at $397,000. Finally, Bayesian Capital Management LP acquired a new stake in J. M. Smucker in the 1st quarter valued at $1,215,000. 81.66% of the stock is owned by institutional investors.

J. M. Smucker Stock Up 7.5 %

The company has a current ratio of 0.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.87. The firm’s 50 day simple moving average is $116.42 and its 200-day simple moving average is $115.55. The stock has a market capitalization of $13.00 billion, a price-to-earnings ratio of 17.27, a price-to-earnings-growth ratio of 3.18 and a beta of 0.25.

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, 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.