J. M. Smucker Company

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  • Aug. 27, 2015, 9:43 AM
    • J.M. Smucker (NYSE:SJM) reports net sales rose 47% in FQ1 due to acquisition of Big Heart Pet Brands and the Company's U.S. retail launch of Dunkin' Donuts K-Cup pods.
    • Excluding the acquisition and currency impact net sales increased 6% for the period.
    • Revenue by segment: U.S. Retail Coffee: $565M (+12%); U.S. Retail Consumer Foods: $582.2M (flat); U.S. Retail Pet Foods: $549.9M; International and Foodservice: $254.9M (+7%).
    • Adjusted gross margin rate grew 20 bps to 38%.
    • Adjusted operating margin rate fell 130 bps to 15.5%.
    • EBITDA margin remained constant Y/Y at 19.3%.
    • Total SG&A expenses rate +80 bps to 19.9%.
    • FY2016 Guidance: Net sales: $8B; Non-GAAP EPS: $5.65 - $5.80; Adjusted non-GAAP EPS: $6.80 - $6.95; Free cash flow: $900M; Capex: $200M.
    | Aug. 27, 2015, 9:43 AM
  • Aug. 27, 2015, 7:02 AM
    • J. M. Smucker (NYSE:SJM): FQ1 EPS of $1.32 beats by $0.09.
    • Revenue of $1.95B (+47.7% Y/Y) beats by $50M.
    | Aug. 27, 2015, 7:02 AM
  • Aug. 26, 2015, 5:30 PM
    | Aug. 26, 2015, 5:30 PM | 4 Comments
  • Aug. 19, 2015, 7:13 AM
    • Credit Suisse upgrades J.M. Smucker (NYSE:SJM) to an Outperform rating after a positive read on Nielsen data in key categories.
    • The investment firm raises its price target to $126 from $112.
    | Aug. 19, 2015, 7:13 AM | 2 Comments
  • Aug. 12, 2015, 12:47 PM
    • Corn prices have swung sharply lower after the USDA raised a forecast for corn production off of improved yields.
    • The corn crop is seen coming in at 13.686B bushels vs. 13.53B prior forecast and 13.332B consensus estimate.
    • Food sellers could see some back-half cost and feed relief if the trend holds.
    • Related stocks: GIS, K, POST, KO, PEP, PPC, CPB, TSN, SEB, SJM.
    • Related ETF: CORN
    • USDA Crop Production report.
    | Aug. 12, 2015, 12:47 PM | 4 Comments
  • Jul. 16, 2015, 5:18 PM
    • J. M. Smucker (NYSE:SJM) declares $0.67/share quarterly dividend, 4.7% increase from prior dividend of $0.64.
    • Forward yield 2.47%
    • Payable Sept. 1; for shareholders of record Aug. 14; ex-div Aug. 12.
    | Jul. 16, 2015, 5:18 PM
  • Jul. 9, 2015, 6:15 PM
    • J.M. Smucker (NYSE:SJM) plans to sell 4.92M shares on behalf of a firm linked to Centerview Capital and AlpInvest, two of Big Heart Pet Brands' former P-E owners.
    • SJM bought Big Heart for 17.9M shares, $1.3B in cash, and the assumption of $2.6B in debt. Shares -1.7% AH to $106.50.
    | Jul. 9, 2015, 6:15 PM
  • Jul. 6, 2015, 2:14 PM
    • Keurig Green Mountain (GMCR -3.6%) is slammed after SunTrust cut its stock price target to $70 from $95, citing a loss of market share to the likes of Kraft Heinz (KHC), JM Smucker (NYSE:SJM) and Starbuck (NASDAQ:SBUX).
    • The firm thinks GMCR will need to address share losses for its company-owned brands sooner rather than later, which will pressure earnings; market share for GMCR-owned brands have dropped to 28% from 35% over the past year and posted a 5% sales decline and 12% volume decline in the most recent four-week period, according to Nielsen, lost to GMCR’s licensed partners which have stronger brands and are promoting their products more than GMCR.
    • SunTrust says it does not believe GMCR wants simply to be a contract manufacturer for the industry; GMCR will need to step up promotions in the coming months while working through its higher-cost coffee hedges, which the firm cites as the key reason behind its FY 2015 earnings reduction.
    | Jul. 6, 2015, 2:14 PM | 5 Comments
  • Jul. 1, 2015, 8:21 AM
    • J.M. Smucker (NYSE:SJM) cuts prices on packaged coffee products by an average of 6%.
    • The reduced pricing impacts products sold under the Folgers and Dunkin' Donuts brand names.
    • Wholesale coffee prices have moderated over the last six months (Robusta chart).
    | Jul. 1, 2015, 8:21 AM | 2 Comments
  • Jun. 4, 2015, 7:15 AM
    • J.M. Smucker (NYSE:SJM) received a boost to sales in FQ4 from the acquisition of Big Heart.
    • Revenue growth by segment: U.S. Retail Coffee -1% to $468.6M, U.S. Retail Consumer Foods -8% to $427.5, International/Foodservice/Natural +6% to $311.9M, U.S Retail Pet Foods $239.1M.
    • Sales mix worked in the company's favor in FQ4.
    • Price realization added two points of growth during the quarter.
    • Marketing costs rate +110 bps to 5.3%.
    • Total SG&A expense rate +100 bps to 7.6%.
    • Operating income rate -1006 bps to 4.9%.
    | Jun. 4, 2015, 7:15 AM
  • Jun. 4, 2015, 7:02 AM
    • J. M. Smucker (NYSE:SJM): FQ4 EPS of $0.98 misses by $0.01.
    • Revenue of $1.44B (+17.1% Y/Y) beats by $100M.
    | Jun. 4, 2015, 7:02 AM
  • Jun. 3, 2015, 5:30 PM
  • Jun. 1, 2015, 12:49 PM
    • Iconic food and beverage brands continue to grow out of favor with U.S. consumers, according to a new report from Rabobank.
    • Many Q1 earnings reports tipped off weakness at well-known F&B brands.
    • The bank notes that the increasing purchase power of the millennial generation is a major factor in the shift as e-commerce accounts for a higher mix of purchasing.
    • A willingness of major retail chains such as Target (NYSE:TGT), Kroger (NYSE:KR), and Costco (NASDAQ:COST) to attempt to differentiate themselves with new concepts and products has also contributed to well-known brands slipping.
    • Rabobank thinks major food and beverage players can still show strong growth rates if they are nimble with their strategy and use M&A wisely to catch fresh brands on the upswing.
    | Jun. 1, 2015, 12:49 PM | 6 Comments
  • May 15, 2015, 12:40 PM
    • Dan Loeb's Third Point LLC  exited its 10M-share Alibaba (BABA - unchanged) position in Q1, after having upped its stake in the Chinese e-commerce giant in Q4. (13F filing)
    • The firm also unloaded its 7M-share position in EMC (EMC -0.1%), which confirmed during the quarter it doesn't plan to spin off VMware, and a 4M-share stake in Williams (WMB +1.3%).
    • A 3.3M-share stake was taken in Yum Brands (YUM +3.6%), a 900K-share stake in FedEx (FDX +0.7%), a 1.15M-share stake in J.M. Smucker (SJM -0.1%), and a 626K-share stake in McKesson (MCK). Loeb also respectively took 1.6M-share and  3.5M-share stakes in chipmakers NXP (NXPI +0.2%) and Maxim (MXIM +0.4%).
    • Stakes were increased in Delta Air Lines, Actavis, FleetCor, and Roper Technologies, and decreased in Amgen, Ally Financial, eBay, Phillips 66, and Anheuser Busch. Interestingly, a modest 90K-share position was taken in top Alibaba rival JD.com (JD -0.8%).
    • Meb Faber observes someone tracking Loeb's top 10 picks since 2000 would have obtained a 12.4% annual return since 2000 (504.8% overall), soundly beating the S&P 500's 4.4% (95.4% overall).
    | May 15, 2015, 12:40 PM | 5 Comments
  • May 14, 2015, 11:05 AM
    • The National Weather Service forecasts a continuation of El Nino conditions in the Pacific Ocean late into the year.
    • The outlook is consistent with a recent statement from across the ocean by the Japanese Meteorological Agency.
    • In the past, El Nino conditions have contributed to drought conditions in Central and South America to impact coffee costs for sellers.
    • Related stocks: GMCR, SBUX, JVA, SJM, KRFT, DNKN, OTCQB:JAMN.
    • Related ETFs: JO
    • El Nino Advisory (.pdf)
    | May 14, 2015, 11:05 AM | 24 Comments
  • Apr. 20, 2015, 2:58 PM
    • Pet spending in the U.S. is expected to rise 4.4% to $60.59B this year.
    • The food category is seen rising 3.5%, while growth of 4.7% is forecast for the supplies and medicine category.
    • Sale of premium food weren't broken out, but is seen outpacing the overall industry.
    • Related stocks: FRPT, PETM, SJM, PETS.
    | Apr. 20, 2015, 2:58 PM | 1 Comment
Company Description
JM Smucker Co manufactures and markets branded food products.