The J. M. Smucker Company to Issue 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 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date is Friday, November 15th.

J. M. Smucker has raised its dividend by an average of 5.3% per year over the last three years and has increased its dividend every year for the last 27 years. J. M. Smucker has a payout ratio of 40.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect J. M. Smucker to earn $10.50 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 41.1%.

J. M. Smucker Stock Down 0.9 %

SJM opened at $111.02 on Thursday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.25 and a current ratio of 0.55. J. M. Smucker has a fifty-two week low of $105.69 and a fifty-two week high of $134.62. The firm’s fifty day moving average is $117.72 and its 200 day moving average is $115.64. The stock has a market cap of $11.81 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 3.20 and a beta of 0.25.

J. M. Smucker (NYSE:SJM) last announced its quarterly earnings results on Wednesday, August 28th. The company reported $2.44 EPS for the quarter, topping the consensus estimate of $2.17 by $0.27. The business had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.13 billion. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.21 EPS. On average, sell-side analysts forecast that J. M. Smucker will post 9.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Bank of America reduced their target price 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. Stifel Nicolaus downgraded shares of J. M. Smucker from a “buy” rating to a “hold” rating and reduced their target price for the stock from $135.00 to $125.00 in a report on Friday, October 25th. Citigroup cut their price target on shares of J. M. Smucker from $138.00 to $136.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Barclays cut their price target on shares of J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating on the stock in a report on Friday, August 30th. Finally, BNP Paribas upgraded shares of J. M. Smucker to a “strong sell” rating in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $126.42.

J. M. Smucker Company Profile

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.