Smucker (SJM) Declares $1.02 Dividend

Smucker said on April 18, 2023 that its board of directors declared a regular quarterly dividend of $1.02 per share ($4.08 annualized). Previously, the company paid $1.02 per share.

Shares must be purchased before the ex-div date of May 11, 2023 to qualify for the dividend. Shareholders of record as of May 12, 2023 will receive the payment on June 1, 2023.

At the current share price of $152.17 / share, the stock's dividend yield is 2.68%. Looking back five years and taking a sample every week, the average dividend yield has been 3.04%, the lowest has been 2.51%, and the highest has been 3.67%. The standard deviation of yields is 0.23 (n=236).

The current dividend yield is 1.52 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.61. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.16%, demonstrating that it has increased its dividend over time.

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What is the Fund Sentiment?

There are 1623 funds or institutions reporting positions in Smucker. This is an increase of 17 owner(s) or 1.06% in the last quarter. Average portfolio weight of all funds dedicated to SJM is 0.28%, an increase of 19.47%. Total shares owned by institutions decreased in the last three months by 2.90% to 92,865K shares. The put/call ratio of SJM is 1.35, indicating a bearish outlook.

Analyst Price Forecast Suggests 1.83% Upside

As of April 6, 2023, the average one-year price target for Smucker is $154.95. The forecasts range from a low of $129.28 to a high of $178.50. The average price target represents an increase of 1.83% from its latest reported closing price of $152.17.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Smucker is $8,537MM, an increase of 2.51%. The projected annual non-GAAP EPS is $8.68.

What are Other Shareholders Doing?

TLVOX - Thrivent Low Volatility Equity Fund Class S holds 2K shares representing 0.00% ownership of the company.

AVGIX - Vp Income & Growth Fund Class I holds 6K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.

Norinchukin Bank, The holds 6K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 8K shares, representing a decrease of 19.99%. The firm decreased its portfolio allocation in SJM by 99.91% over the last quarter.

Arjuna Capital holds 21K shares representing 0.02% ownership of the company. In it's prior filing, the firm reported owning 21K shares, representing an increase of 1.64%. The firm decreased its portfolio allocation in SJM by 99.89% over the last quarter.

Charles Schwab Investment Management holds 894K shares representing 0.84% ownership of the company. In it's prior filing, the firm reported owning 868K shares, representing an increase of 2.88%. The firm increased its portfolio allocation in SJM by 6.84% over the last quarter.

J.M. Smucker Background Information
(This description is provided by the company.)

Each generation of consumers leaves their mark on culture by establishing new expectations for food and the companies that make it. At The J.M. Smucker Co., it is our privilege to be at the heart of this dynamic with a diverse portfolio that appeals to each generation of people and pets and is found in nearly 90 percent of U.S. homes and countless restaurants. This includes a mix of iconic brands consumers have always loved such as Folgers®, Jif® and Milk-Bone® and new favorites like Café Bustelo®,Smucker's® Uncrustables® and Rachael Ray® Nutrish®. By continuing to immerse the company in consumer preferences and acting responsibly, it will continue growing our business and the positive impact the company has on society.

This story originally appeared on Fintel.