J M Smucker Co (SJM) Expected to Announce Quarterly Sales of $2.05 Billion

Wall Street brokerages expect J M Smucker Co (NYSE:SJM) to announce $2.05 billion in sales for the current quarter, according to Zacks. Six analysts have issued estimates for J M Smucker’s earnings, with the lowest sales estimate coming in at $2.01 billion and the highest estimate coming in at $2.09 billion. J M Smucker reported sales of $1.92 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 6.8%. The business is expected to report its next earnings report on Thursday, November 15th.

According to Zacks, analysts expect that J M Smucker will report full-year sales of $7.88 billion for the current fiscal year, with estimates ranging from $7.79 billion to $8.00 billion. For the next fiscal year, analysts forecast that the company will post sales of $7.93 billion, with estimates ranging from $7.78 billion to $8.16 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for J M Smucker.

J M Smucker (NYSE:SJM) last posted its quarterly earnings results on Tuesday, August 21st. The company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.02. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.95 billion. J M Smucker had a return on equity of 12.20% and a net margin of 17.91%. J M Smucker’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.96 earnings per share.

Several research analysts recently weighed in on SJM shares. ValuEngine raised J M Smucker from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 27th. Wolfe Research lowered J M Smucker from a “peer perform” rating to an “underperform” rating in a research report on Wednesday, September 26th. Credit Suisse Group set a $95.00 price target on J M Smucker and gave the company a “sell” rating in a research report on Friday, September 21st. Barclays reissued a “hold” rating on shares of J M Smucker in a research report on Monday, June 11th. Finally, Zacks Investment Research raised J M Smucker from a “sell” rating to a “hold” rating in a research report on Tuesday, September 11th. Six research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $121.83.

NYSE:SJM opened at $102.51 on Tuesday. The firm has a market cap of $11.67 billion, a P/E ratio of 12.96, a price-to-earnings-growth ratio of 1.87 and a beta of 0.53. J M Smucker has a 1-year low of $96.13 and a 1-year high of $133.38. The company has a current ratio of 1.17, a quick ratio of 0.51 and a debt-to-equity ratio of 0.78.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 4th. Shareholders of record on Friday, August 17th were paid a $0.85 dividend. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $3.40 dividend on an annualized basis and a yield of 3.32%. This is an increase from J M Smucker’s previous quarterly dividend of $0.78. J M Smucker’s payout ratio is 42.71%.

In other J M Smucker news, insider Mark T. Smucker sold 2,500 shares of the business’s stock in a transaction dated Monday, July 16th. The stock was sold at an average price of $111.02, for a total value of $277,550.00. Following the transaction, the insider now owns 121,179 shares in the company, valued at $13,453,292.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jeannette L. Knudsen sold 1,500 shares of the business’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $110.74, for a total value of $166,110.00. Following the completion of the transaction, the senior vice president now owns 26,224 shares in the company, valued at approximately $2,904,045.76. The disclosure for this sale can be found here. Insiders own 3.92% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Clarus Wealth Advisors bought a new stake in shares of J M Smucker during the 2nd quarter worth about $109,000. Moody Aldrich Partners LLC bought a new stake in shares of J M Smucker during the 2nd quarter worth about $115,111,000. CSat Investment Advisory L.P. bought a new stake in shares of J M Smucker during the 2nd quarter worth about $122,000. WealthTrust Fairport LLC bought a new stake in shares of J M Smucker during the 1st quarter worth about $143,000. Finally, Squar Milner Financial Services LLC bought a new stake in shares of J M Smucker during the 2nd quarter worth about $160,000. Hedge funds and other institutional investors own 82.77% of the company’s stock.

About J M Smucker

The J. M. Smucker Company manufactures and markets branded food and beverage products worldwide. It operates in four segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The company primarily offers coffee, pet food and pet snacks, peanut butter, fruit spreads, shortening and oils, baking mixes and ready-to-spread frostings, frozen sandwiches, flour and baking ingredients, juices and beverages, and portion control products.

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