The J. M. Smucker Company (SJM) to Issue Quarterly Dividend of $1.06 on June 3rd

The J. M. Smucker Company (NYSE:SJM) announced a quarterly dividend on Thursday, April 18th, RTT News reports. Stockholders of record on Friday, May 17th will be paid a dividend of 1.06 per share on Monday, June 3rd. This represents a $4.24 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date is Thursday, May 16th.

J. M. Smucker has raised its dividend by an average of 5.3% annually over the last three years and has raised its dividend every year for the last 26 years. J. M. Smucker has a dividend payout ratio of 39.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect J. M. Smucker to earn $10.19 per share next year, which means the company should continue to be able to cover its $4.24 annual dividend with an expected future payout ratio of 41.6%.

J. M. Smucker Stock Up 3.3 %

Shares of SJM opened at $114.76 on Friday. J. M. Smucker has a 52 week low of $107.33 and a 52 week high of $159.92. The company has a quick ratio of 0.38, a current ratio of 0.78 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $12.19 billion, a price-to-earnings ratio of -130.41, a PEG ratio of 1.77 and a beta of 0.21. The stock’s 50-day moving average price is $121.08 and its 200-day moving average price is $120.65.

J. M. Smucker (NYSE:SJM) last issued its earnings results on Tuesday, February 27th. The company reported $2.48 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.21. J. M. Smucker had a positive return on equity of 14.29% and a negative net margin of 1.24%. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the prior year, the business earned $2.21 earnings per share. The company’s revenue was up .6% compared to the same quarter last year. On average, sell-side analysts predict that J. M. Smucker will post 9.6 EPS for the current year.

Insider Activity at J. M. Smucker

In related news, insider Jeannette L. Knudsen sold 3,200 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $124.77, for a total value of $399,264.00. Following the completion of the sale, the insider now owns 8,946 shares of the company’s stock, valued at $1,116,192.42. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On J. M. Smucker

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. West Tower Group LLC acquired a new stake in J. M. Smucker during the fourth quarter worth $25,000. Eagle Bay Advisors LLC acquired a new stake in J. M. Smucker during the second quarter worth $27,000. O Dell Group LLC acquired a new stake in J. M. Smucker during the fourth quarter worth $32,000. Sunbelt Securities Inc. acquired a new stake in J. M. Smucker during the first quarter worth $33,000. Finally, Clear Street Markets LLC increased its stake in J. M. Smucker by 97.2% during the first quarter. Clear Street Markets LLC now owns 211 shares of the company’s stock worth $33,000 after acquiring an additional 104 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SJM shares. TD Cowen lowered their price target on J. M. Smucker from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, April 10th. Citigroup lowered their price target on J. M. Smucker from $153.00 to $152.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. Stifel Nicolaus upgraded J. M. Smucker from a “hold” rating to a “buy” rating and set a $135.00 price target on the stock in a research report on Wednesday, February 28th. StockNews.com upgraded J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Monday, April 8th. Finally, Barclays increased their price target on J. M. Smucker from $129.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 29th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, J. M. Smucker currently has a consensus rating of “Hold” and a consensus target price of $137.47.

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.