J. M. Smucker (NYSE:SJM) Releases FY23 Earnings Guidance

J. M. Smucker (NYSE:SJMGet Rating) updated its FY23 earnings guidance on Tuesday. The company provided earnings per share guidance of $7.85-8.25 for the period, compared to the consensus earnings per share estimate of $8.92. The company issued revenue guidance of +3.5-4.5% yr/yr to $8.28-8.36 billion, compared to the consensus revenue estimate of $8.01 billion.J. M. Smucker also updated its FY 2023 guidance to $7.85-$8.25 EPS.

NYSE SJM traded up $4.77 during trading on Tuesday, reaching $128.03. The company’s stock had a trading volume of 17,604 shares, compared to its average volume of 1,112,396. The company has a current ratio of 1.19, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $13.89 billion, a PE ratio of 23.21 and a beta of 0.28. The business has a 50-day moving average price of $135.70 and a 200-day moving average price of $135.30. J. M. Smucker has a 1-year low of $118.55 and a 1-year high of $146.74.

J. M. Smucker (NYSE:SJMGet Rating) last announced its earnings results on Tuesday, June 7th. The company reported $2.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.35. J. M. Smucker had a net margin of 7.31% and a return on equity of 11.30%. The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the firm posted $1.89 earnings per share. J. M. Smucker’s revenue was up 5.9% compared to the same quarter last year. As a group, analysts expect that J. M. Smucker will post 8.54 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 1st. Stockholders of record on Friday, May 13th were paid a $0.99 dividend. The ex-dividend date of this dividend was Thursday, May 12th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.09%. J. M. Smucker’s dividend payout ratio (DPR) is presently 74.58%.

Several brokerages have recently weighed in on SJM. Morgan Stanley decreased their price target on shares of J. M. Smucker from $130.00 to $117.00 and set an underweight rating for the company in a research note on Wednesday, March 2nd. Citigroup decreased their price target on J. M. Smucker from $138.00 to $131.00 and set a neutral rating on the stock in a research report on Wednesday, March 2nd. William Blair reiterated a market perform rating on shares of J. M. Smucker in a research report on Tuesday, March 1st. Deutsche Bank Aktiengesellschaft cut their price target on J. M. Smucker from $134.00 to $133.00 in a research note on Wednesday, June 1st. Finally, JPMorgan Chase & Co. dropped their price target on J. M. Smucker from $144.00 to $143.00 and set a neutral rating on the stock in a research note on Wednesday, March 2nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, J. M. Smucker presently has an average rating of Hold and a consensus target price of $132.25.

Several large investors have recently bought and sold shares of SJM. Kinneret Advisory LLC raised its position in shares of J. M. Smucker by 2.3% during the 1st quarter. Kinneret Advisory LLC now owns 3,302 shares of the company’s stock valued at $447,000 after buying an additional 74 shares during the period. Belpointe Asset Management LLC boosted its holdings in shares of J. M. Smucker by 7.3% in the fourth quarter. Belpointe Asset Management LLC now owns 1,405 shares of the company’s stock valued at $191,000 after acquiring an additional 95 shares in the last quarter. Ulland Investment Advisors LLC acquired a new stake in shares of J. M. Smucker in the fourth quarter valued at about $31,000. Horizon Investments LLC raised its position in J. M. Smucker by 10.9% during the fourth quarter. Horizon Investments LLC now owns 2,785 shares of the company’s stock worth $376,000 after acquiring an additional 273 shares during the last quarter. Finally, Peapack Gladstone Financial Corp raised its position in J. M. Smucker by 6.3% during the fourth quarter. Peapack Gladstone Financial Corp now owns 6,766 shares of the company’s stock worth $919,000 after acquiring an additional 398 shares during the last quarter. Hedge funds and other institutional investors own 83.02% of the company’s stock.

J. M. Smucker Company Profile (Get Rating)

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 offers mainstream roast, ground, single serve, and premium coffee; peanut butter and specialty spreads; fruit spreads, shortening and oils, and frozen sandwiches; 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 ingredient.

See Also

Earnings History and Estimates for J. M. Smucker (NYSE:SJM)

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