The J. M. Smucker Company (NYSE:SJM) Forecasted to Earn Q1 2024 Earnings of $2.21 Per Share

The J. M. Smucker Company (NYSE:SJM – Get Rating) – Jefferies Financial Group issued their Q1 2024 EPS estimates for shares of J. M. Smucker in a report issued on Wednesday, February 22nd. Jefferies Financial Group analyst R. Dickerson anticipates that the company will earn $2.21 per share for the quarter. The consensus estimate for J. M. Smucker’s current full-year earnings is $8.66 per share. Jefferies Financial Group also issued estimates for J. M. Smucker’s Q2 2024 earnings at $2.66 EPS, Q3 2024 earnings at $2.54 EPS, Q4 2024 earnings at $2.54 EPS, Q1 2025 earnings at $2.33 EPS, Q2 2025 earnings at $2.83 EPS and Q3 2025 earnings at $2.86 EPS.

Other equities analysts have also recently issued reports about the stock. Morgan Stanley upgraded shares of J. M. Smucker from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $135.00 to $158.00 in a research note on Tuesday, December 20th. BNP Paribas began coverage on shares of J. M. Smucker in a research note on Tuesday, November 15th. They issued an “underperform” rating and a $138.00 target price for the company. Exane BNP Paribas began coverage on shares of J. M. Smucker in a research note on Tuesday, November 15th. They issued an “underperform” rating for the company. The Goldman Sachs Group restated a “sell” rating and set a $123.00 price objective on shares of J. M. Smucker in a research report on Monday, November 21st. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of J. M. Smucker from $148.00 to $153.00 and gave the stock a “hold” rating in a research report on Tuesday, December 6th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, J. M. Smucker currently has an average rating of “Hold” and an average target price of $149.70.

J. M. Smucker Stock Performance

SJM opened at $148.60 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.09 and a quick ratio of 0.43. The firm has a fifty day moving average price of $153.24 and a 200 day moving average price of $147.44. J. M. Smucker has a 1 year low of $119.82 and a 1 year high of $163.07. The stock has a market cap of $15.83 billion, a P/E ratio of 27.88, a P/E/G ratio of 5.20 and a beta of 0.21.

Institutional Investors Weigh In On J. M. Smucker

A number of hedge funds have recently modified their holdings of SJM. Fairfield Bush & CO. grew its holdings in shares of J. M. Smucker by 1.5% in the first quarter. Fairfield Bush & CO. now owns 30,551 shares of the company’s stock valued at $4,137,000 after purchasing an additional 461 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in J. M. Smucker by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,499 shares of the company’s stock worth $1,963,000 after buying an additional 898 shares during the period. Allianz Asset Management GmbH boosted its stake in J. M. Smucker by 1.7% during the first quarter. Allianz Asset Management GmbH now owns 339,555 shares of the company’s stock worth $45,980,000 after buying an additional 5,531 shares during the period. National Pension Service boosted its stake in J. M. Smucker by 1,012.2% during the first quarter. National Pension Service now owns 192,636 shares of the company’s stock worth $26,085,000 after buying an additional 175,315 shares during the period. Finally, Vanguard Group Inc. boosted its stake in J. M. Smucker by 1.3% during the first quarter. Vanguard Group Inc. now owns 12,721,847 shares of the company’s stock worth $1,722,666,000 after buying an additional 162,944 shares during the period. Hedge funds and other institutional investors own 79.21% of the company’s stock.

J. M. Smucker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 1st. Investors of record on Friday, February 10th will be issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend is Thursday, February 9th. J. M. Smucker’s dividend payout ratio is currently 76.55%.

J. M. Smucker Company Profile

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The J. M. Smucker Co engages in the manufacture and marketing of food and beverage products. It operates through the following segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The U. S. Retail Coffee segment includes domestic sales of Folgers, Dunkin’ Donuts, and Café Bustelo branded coffee.