J M Smucker Stock Price, News & Analysis

The J.M. Smucker Co. (SJM) declared a $0.90 per share dividend, payable on June 1, 2021, to shareholders of record by May 14, 2021. The company also scheduled its Annual Meeting of Shareholders for August 18, 2021, at 12:00 p.m. ET, in a virtual format. Eligible shareholders must register by entering their 16-digit control number from their proxy materials. Smucker's diverse portfolio is well-recognized and found in 90% of U.S. homes, emphasizing its commitment to meeting consumer needs.

The J. M. Smucker Co. (NYSE: SJM) announced a voluntary recall of two lots of Meow Mix® Original Choice Dry Cat Food due to potential salmonella contamination. The recall affects 30LB bags sold at select Walmart stores across several states, including IL, MO, NE, NM, OK, UT, WI, and WY. No reports of illness have been received, and the recall is a precautionary measure. Consumers are advised to check their products for the specific lot codes and dispose of them immediately.

The J.M. Smucker Co. (NYSE: SJM) has announced a strategic partnership with JDE Peet's to enhance its Away From Home liquid coffee business. This collaboration focuses on product development and innovation in foodservice equipment. COO John Brase expressed optimism regarding this partnership's potential to drive category growth. In a related decision, Smucker plans to close its Suffolk, Virginia production facility and seek a buyer. Importantly, this partnership will not affect Smucker's retail coffee business.

The J.M. Smucker Co. (NYSE: SJM) reported a 5% increase in net sales for Q3 FY2021, reaching $2.08 billion, driven by growth across U.S. and International retail businesses. Net income per diluted share rose 41% to $2.32, while adjusted EPS saw a 4% gain at $2.45. Although cash from operations decreased by 7% to $486.3 million, free cash flow was $416.6 million. Smucker increased its full-year guidance, projecting a 2% rise in net sales and adjusted EPS between $8.70 and $8.90, against 112.6 million shares outstanding.

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The J.M. Smucker Co. (NYSE: SJM) has announced its executive management presentation at the 2021 CAGNY Virtual Conference on February 17, 2021, at 9:20 a.m. EST. Additionally, the company will hold its Q3 fiscal 2021 earnings call on February 25, 2021, at 8:30 a.m. EST, with a press release and financial statements available at 7:00 a.m. EST. The webcasts can be accessed via the company's website: investors.jmsmucker.com. This engagement aims to communicate the company's ongoing strategy and performance to investors.

The J.M. Smucker Co. has finalized the sale of its Natural Balance® premium pet food business to Nexus Capital Management for $50 million. This divestiture, part of the Company’s strategy to focus on core brands, generated net sales of approximately $220 million for the fiscal year ended April 30, 2020. The sale is expected to slightly dilute adjusted earnings per share by $0.05 to $0.10 in the upcoming year. The Company aims to enhance profitability by concentrating on high-potential brands like Rachael Ray® Nutrish and Milk-Bone®.

The J.M. Smucker Co. (SJM) has declared a $0.90 per share dividend, set to be paid on March 1, 2021. Shareholders must be on record by February 12, 2021 to qualify for this payment. This decision reflects the company's commitment to returning value to shareholders amidst evolving consumer preferences.

The Jif Brand has announced the launch of its new Jif Natural Squeeze Creamy Peanut Butter Spread, available online and at select retailers starting January 2021. This product features 90% peanuts and contains no preservatives or GMOs, making it a healthy option for families. The 13 oz. pouch is designed for easy portioning for recipes or direct consumption. It will also be featured in a national advertising campaign. This innovation aims to enhance consumer convenience and expand the Jif product line.