The J. M. Smucker Company Declares Quarterly Dividend of $1.08 (NYSE:SJM)

The J. M. Smucker Company (NYSE:SJM) declared a quarterly dividend on Thursday, October 24th, RTT News reports. Investors of record on Friday, November 15th will be given a dividend of 1.08 per share on Monday, December 2nd. This represents a $4.32 annualized dividend and a dividend yield of 3.69%.

J. M. Smucker has raised its dividend payment by an average of 5.3% annually over the last three years and has raised its dividend every year for the last 27 years. J. M. Smucker has a dividend payout ratio of 40.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect J. M. Smucker to earn $10.56 per share next year, which means the company should continue to be able to cover its $4.32 annual dividend with an expected future payout ratio of 40.9%.

J. M. Smucker Stock Performance

J. M. Smucker stock traded down $0.66 during trading hours on Thursday, hitting $117.04. 576,169 shares of the stock traded hands, compared to its average volume of 1,163,556. J. M. Smucker has a 1 year low of $105.69 and a 1 year high of $134.62. The stock has a market capitalization of $12.45 billion, a price-to-earnings ratio of 16.65, a P/E/G ratio of 3.12 and a beta of 0.24. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.55 and a quick ratio of 0.25. The firm’s 50 day moving average price is $119.09 and its 200-day moving average price is $115.58.

J. M. Smucker (NYSE:SJM) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.17 by $0.27. The company had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. J. M. Smucker’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period last year, the firm posted $2.21 EPS. As a group, equities analysts expect that J. M. Smucker will post 9.82 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on SJM. Wells Fargo & Company reduced their price objective on J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, August 29th. Citigroup reduced their price target on J. M. Smucker from $138.00 to $136.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. TD Cowen dropped their price objective on shares of J. M. Smucker from $135.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Bank of America lowered their price target on shares of 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, BNP Paribas raised shares of J. M. Smucker to a “strong sell” rating in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, J. M. Smucker has an average rating of “Hold” and a consensus price target of $127.25.

About J. M. Smucker

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.