J. M. Smucker (NYSE:SJM) Shares Gap Up Following Better-Than-Expected Earnings

The J. M. Smucker Company (NYSE:SJM) shares gapped up prior to trading on Tuesday following a better than expected earnings announcement. 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 trading hands.

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

J. M. Smucker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be paid a $1.08 dividend. The ex-dividend date is Friday, November 15th. This represents a $4.32 dividend on an annualized basis and a yield of 3.66%. J. M. Smucker’s dividend payout ratio is currently 61.10%.

Analyst Upgrades and Downgrades

SJM has been the subject of a number of research reports. TD Cowen cut their target price 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 decreased their target price on J. M. Smucker from $138.00 to $136.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Stifel Nicolaus cut J. M. Smucker from a “buy” rating to a “hold” rating and dropped their price target for the stock from $135.00 to $125.00 in a research report on Friday, October 25th. Bank of America decreased their price objective on J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Finally, StockNews.com raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a report on Monday, September 30th. One 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. Based on data from MarketBeat, J. M. Smucker currently has an average rating of “Hold” and a consensus price target of $127.55.

Institutional Trading of J. M. Smucker

A number of institutional investors have recently bought and sold shares of the business. Studio Investment Management LLC purchased a new position in J. M. Smucker during the 2nd quarter worth approximately $26,000. Venturi Wealth Management LLC raised its position in J. M. Smucker by 1,329.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 243 shares of the company’s stock valued at $29,000 after purchasing an additional 226 shares during the last quarter. Quarry LP boosted its stake in J. M. Smucker by 212.6% during the 2nd quarter. Quarry LP now owns 322 shares of the company’s stock worth $35,000 after purchasing an additional 219 shares during the period. Catalyst Capital Advisors LLC purchased a new position in J. M. Smucker during the 3rd quarter worth $39,000. Finally, Eastern Bank acquired a new position in J. M. Smucker in the third quarter valued at $40,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

J. M. Smucker Stock Down 1.8 %

The company has a quick ratio of 0.25, a current ratio of 0.55 and a debt-to-equity ratio of 0.87. The business’s fifty day moving average price is $116.43 and its 200 day moving average price is $115.59. The firm has a market capitalization of $12.55 billion, a PE ratio of 16.94, a PEG ratio of 3.19 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.