J M Smucker Stock Price, News & Analysis

The J.M. Smucker Co. (NYSE: SJM) declared a $1.02 per share dividend on its common shares, scheduled for payment on June 1, 2023. Shareholders must hold the shares by the close of business on May 12, 2023 to be eligible for this dividend. Additionally, the company announced its Annual Meeting of Shareholders to take place on August 16, 2023, at 12:00 p.m. Eastern Time. Shareholders of record by June 20, 2023 can attend via a virtual platform, requiring a 16-digit control number for access.

The J.M. Smucker Co. (NYSE: SJM) will participate in a fireside chat at the BofA Securities 2023 Consumer and Retail Conference on March 14, 2023, at 8:00 a.m. EST. The discussion will feature Mark Smucker, Chair, President, and CEO, alongside Tucker Marshall, CFO. Investors can access the live webcast on the company's website, with a replay available post-event. The J.M. Smucker Co. is recognized for its diverse portfolio in the North American food market, including popular brands like Folgers, Dunkin', and Meow Mix, committed to producing high-quality products responsibly.

The J.M. Smucker Co. has announced key leadership appointments, effective March 13 and April 10, 2023. Gail Hollander will become Chief Marketing Officer, bringing 20 years of experience from Publicis Groupe, where she enhanced Smucker's brand relevance. Robert Crane is promoted to Senior Vice President, Head of Sales and Sales Commercialization, following his success in the Pet division. Tim Wayne now oversees the Away From Home division in Canada and internationally, and Angie Burick becomes Senior Vice President, Finance and Controller, ensuring M&A alignment with financial strategies. These updates aim to bolster brand growth and operational excellence.

The J.M. Smucker Co. (SJM) reported third-quarter fiscal 2023 results with net sales increasing by $159.2 million or 8%, driven by strong demand and price increases. Net income per diluted share rose to $1.95, while adjusted EPS fell by 5% to $2.21. Cash provided by operations surged by 33% to $584.6 million, and free cash flow reached $442.7 million. The company updated its full-year outlook, projecting a 6% net sales increase and adjusted EPS between $8.55 and $8.75, accounting for challenges including the Jif® peanut butter recall.

Café Bustelo has announced the continuation of its El Café del Futuro Scholarship, awarding an additional $125,000 in scholarships to Latino students this year. This initiative, in partnership with the Hispanic Association of Colleges and Universities (HACU), marks the 10th year of the program, which has provided a total of $680,000 in scholarships since its inception in 2014. A total of 25 scholarships, each worth $5,000, will be available for eligible applicants. The application period runs from February 21, 2023 to July 3, 2023.

The J.M. Smucker Co. (NYSE: SJM) announced a definitive agreement to divest several pet food brands to Post Holdings, Inc. for approximately $1.2 billion. The deal comprises $700 million in cash and around 5.39 million shares of Post's common stock. Brands included in the sale are Rachael Ray Nutrish, 9Lives, Kibbles 'n Bits, Nature's Recipe, and Gravy Train. The company anticipates this divestiture will be dilutive to adjusted earnings per share by about $0.45 annually. The transaction is projected to close by the end of the current fiscal year.

The J.M. Smucker Co. (NYSE: SJM) will present at the 2023 CAGNY Conference on February 22, 2023, at 1:00 p.m. EST. The company will also announce its third quarter fiscal 2023 financial results on February 28, 2023, with details available from 7:00 a.m. EST. A live Q&A session featuring CEO Mark Smucker and CFO Tucker Marshall will occur at 9:00 a.m. EST. Investors can access live webcasts and related materials through the company's investor website. Smucker's diverse portfolio includes iconic brands like Folgers, Jif, and Milk-Bone, aiming to meet evolving consumer preferences.