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

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 paid a dividend of 1.08 per share on Monday, December 2nd. This represents a $4.32 annualized dividend and a yield of 3.72%. The ex-dividend date is Friday, November 15th.

J. M. Smucker has increased 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 dividend payout ratio of 40.6% indicating that its dividend is sufficiently covered by earnings. Equities 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 Down 0.8 %

Shares of NYSE:SJM opened at $116.07 on Friday. 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 $12.33 billion, a PE ratio of 16.30, a price-to-earnings-growth ratio of 3.12 and a beta of 0.24. The firm has a fifty day moving average of $118.99 and a 200 day moving average of $115.59. J. M. Smucker has a 52-week low of $105.69 and a 52-week high of $134.62.

J. M. Smucker (NYSE:SJM) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.27. The business had revenue of $2.13 billion during 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%. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.21 earnings per share. As a group, research analysts anticipate that J. M. Smucker will post 9.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. DA Davidson reissued a “neutral” rating and issued a $121.00 price target on shares of J. M. Smucker in a research note on Thursday, August 29th. Stifel Nicolaus downgraded shares of J. M. Smucker from a “buy” rating to a “hold” rating and lowered their price objective for the company from $135.00 to $125.00 in a research note on Friday. StockNews.com raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Monday, September 30th. TD Cowen decreased their price target on shares of J. M. Smucker from $135.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Finally, Bank of America decreased their price target on shares of J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $126.42.

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.