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. Shareholders of record on Friday, November 15th will be paid a dividend of 1.08 per share on Monday, December 2nd. This represents a $4.32 annualized dividend and a yield of 3.69%.

J. M. Smucker has increased its dividend by an average of 5.3% annually over the last three years and has raised its dividend annually for the last 27 consecutive years. J. M. Smucker has a dividend payout ratio of 40.6% indicating that its dividend is sufficiently covered by earnings. Research 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 Price Performance

NYSE SJM traded down $0.66 during trading hours on Thursday, hitting $117.04. The company had a trading volume of 576,169 shares, compared to its average volume of 1,163,556. J. M. Smucker has a 52 week low of $105.69 and a 52 week high of $134.62. The firm has a 50 day simple moving average of $119.09 and a 200 day simple moving average of $115.58. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.25 and a current ratio of 0.55. The firm has a market capitalization of $12.45 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 3.12 and a beta of 0.24.

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

Wall Street Analysts Forecast Growth

SJM has been the topic of a number of recent analyst reports. Barclays cut their price objective on J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating on the stock in a research report on Friday, August 30th. Bank of America cut their price objective on J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Citigroup cut their price objective on J. M. Smucker from $138.00 to $136.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. StockNews.com upgraded J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Monday, September 30th. Finally, Wells Fargo & Company cut their price objective on J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $127.25.

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.