The J. M. Smucker (NYSE:SJM) Updates FY 2022 Earnings Guidance

The J. M. Smucker (NYSE:SJM) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $8.700-9.100 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $8.890. The company issued revenue guidance of $7.76 billion-7.84 billion, compared to the consensus revenue estimate of $7.96 billion.

SJM stock traded down $0.29 during mid-day trading on Thursday, hitting $135.68. The company had a trading volume of 622,555 shares, compared to its average volume of 1,118,304. The stock has a market cap of $14.87 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 9.39 and a beta of 0.33. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.47 and a current ratio of 0.82. The J. M. Smucker has a 12 month low of $101.89 and a 12 month high of $140.65. The firm’s fifty day moving average is $133.11.

The J. M. Smucker (NYSE:SJM) last announced its quarterly earnings data on Wednesday, June 2nd. The company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.67 by $0.22. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.88 billion. The J. M. Smucker had a net margin of 11.69% and a return on equity of 13.38%. The company’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.57 earnings per share. As a group, sell-side analysts forecast that The J. M. Smucker will post 8.9 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 1st. Shareholders of record on Friday, May 14th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 2.65%. The ex-dividend date was Thursday, May 13th. The J. M. Smucker’s dividend payout ratio is 41.10%.

SJM has been the topic of several research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of The J. M. Smucker from $138.00 to $140.00 and gave the stock a hold rating in a research report on Friday, June 4th. Bank of America boosted their price target on shares of The J. M. Smucker from $124.00 to $140.00 and gave the company a neutral rating in a research report on Friday, June 4th. Credit Suisse Group boosted their price target on shares of The J. M. Smucker from $123.00 to $130.00 and gave the company a neutral rating in a research report on Friday, June 4th. Barclays reissued a hold rating and issued a $135.00 price target on shares of The J. M. Smucker in a research report on Sunday. Finally, Zacks Investment Research raised shares of The J. M. Smucker from a hold rating to a buy rating and set a $121.00 price target on the stock in a research report on Monday, February 15th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $121.00.

In related news, Director Nancy Lopez Knight sold 225 shares of the business’s stock in a transaction that occurred on Tuesday, March 30th. The shares were sold at an average price of $131.15, for a total transaction of $29,508.75. Following the completion of the transaction, the director now owns 175 shares of the company’s stock, valued at $22,951.25. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Geoff E. Tanner sold 1,200 shares of the business’s stock in a transaction that occurred on Tuesday, March 16th. The stock was sold at an average price of $122.53, for a total transaction of $147,036.00. Following the completion of the transaction, the insider now directly owns 12,078 shares of the company’s stock, valued at approximately $1,479,917.34. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,819 shares of company stock valued at $495,193. 3.60% of the stock is owned by corporate insiders.

About The J. M. Smucker

The J. M. Smucker Company manufactures and markets food and beverage products worldwide. It operates in four segments: U.S. Retail Pet Foods, U.S. Retail Coffee, U.S. Retail Consumer Foods, and International and Away From Home. The company offers pet food and snacks; mainstream roast, ground, single serve, and premium coffee; peanut butter and specialty spreads; fruit spreads, shortening and oils, and frozen sandwiches and snacks; and foodservice hot beverage, foodservice portion control, and flour products, as well as dog and cat food, frozen handheld products, portion control products, juices and beverages, and baking mixes and ingredients.

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

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