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

The J. M. Smucker Company (NYSE:SJM) announced a quarterly dividend on Thursday, October 24th,RTT News reports. Stockholders 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 3.86%. The ex-dividend date of this dividend is Friday, November 15th.

J. M. Smucker has increased its dividend payment by an average of 5.3% annually 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% meaning its dividend is sufficiently covered by earnings. Research 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 Performance

Shares of SJM stock opened at $111.95 on Wednesday. J. M. Smucker has a one year low of $105.69 and a one year high of $134.62. The company’s 50-day moving average is $117.92 and its 200 day moving average is $115.68. The company has a market capitalization of $11.91 billion, a price-to-earnings ratio of 15.83, a price-to-earnings-growth ratio of 3.25 and a beta of 0.25. 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 (NYSE:SJM) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $2.44 EPS for the quarter, beating the consensus estimate of $2.17 by $0.27. The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm posted $2.21 EPS. Sell-side analysts expect that J. M. Smucker will post 9.8 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on SJM shares. DA Davidson restated a “neutral” rating and set a $121.00 target price on shares of J. M. Smucker in a research note on Thursday, August 29th. TD Cowen cut their price objective on shares of J. M. Smucker from $135.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Barclays cut their target price on shares of J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating for the company in a report on Friday, August 30th. Wells Fargo & Company cut their price objective on shares of 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. Finally, StockNews.com upgraded shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Monday, September 30th. One research 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 data from MarketBeat, the company currently has an average 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.