J M Smucker Co (SJM) is Downgraded by Credit Suisse to Neutral

J M Smucker Co (SJM) was Downgraded by Credit Suisse to ” Neutral”. Earlier the firm had a rating of “Outperform ” on the company shares. Credit Suisse advised their investors in a research report released on Sep 27, 2016.

On the company’s financial health, J M Smucker Co reported $1.86 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Aug 23, 2016. Analyst had a consensus of $1.74. The company had revenue of $1815.80 million for the quarter, compared to analysts expectations of $1887.56 million. The company’s revenue was down -7.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.32 EPS.

J M Smucker Co opened for trading at $137.3 and hit $138.28 on the upside on Thursday, eventually ending the session at $137.87, with a gain of 1.13% or 1.54 points. The heightened volatility saw the trading volume jump to 6,09,029 shares. Company has a market cap of $16,051 M.

In a different news, on Jun 27, 2016, David J West (director) sold 865 shares at $145.65 per share price. According to the SEC, on Jun 27, 2016, Jill R Penrose (SVP, Human Resources) sold 519 shares at $146.96 per share price. On Jun 27, 2016, Kathryn W Dindo (director) sold 1,466 shares at $146.50 per share price, according to the Form-4 filing with the securities and exchange commission.

The J. M. Smucker Company is a manufacturer and marketer of consumer food and beverage products and pet food and pet snacks in North America. The Company has four segments: U.S. Retail Coffee U.S. Retail Consumer Foods U.S. Retail Pet Foods and International Foodservice and Natural Foods. The Company’s U.S. retail market segments consist of the sale of branded food products to consumers through retail outlets in North America. The Company’s International Foodservice and Natural Foods segment represents sales outside of the U.S. retail market segments. The Company’s principal consumer food and beverage products are coffee peanut butter fruit spreads shortening and oils baking mixes and ready-to-spread frostings canned milk flour and baking ingredients juices and beverages frozen sandwiches toppings syrups pickles condiments grain products and nut mix products. The Company’s pet products consist of dry and wet dog food dry and wet cat food dog snacks and cat snacks.

J M Smucker Co

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