Ultime notizie per JM Smucker (NYSE:SJM) Azioni

JM Smucker

J.M. Smucker is a packaged food company that primarily sells through the US retail channel (78% of fiscal 2024 revenue came through its retail pet foods, coffee, and frozen handheld/spreads segments), with the remaining share consisting of Hostess and international (primarily Canada). Retail coffee is its largest category (33% of sales) with brands Folgers and Dunkin'. Pet foods (22% of sales) holds leading brands like Milk-Bone and Meow Mix. Of its remaining, approximately 22% comes from consumer foods, primarily peanut butter and jelly, through brands Jif and Smucker's. The company acquired Hostess Brands in fiscal 2024 to boost its snack and convenience store presence.

News

Dividends

Pre-Market Outlook

Markets

Trading Ideas

Scopri i 3 titoli con dividendi elevati che gli analisti di Wall Street consigliano per il tuo portafoglio questo mese.

Gli analisti consigliano questi 3 titoli dal dividendo elevato

JM Smucker Co

SJM HOLDINGS LTD ORD by SJM Holdings Ltd.

SJM Holdings Ltd

SJM HLDGS LTD UNSP/ADR by SJM Holdings Ltd.

In the current market session, JM Smucker Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>) price is at $109.62, after a 2.53% increase. However, over the past month, the stock decreased by 6.99%, and in the past year, by 2.42%. Shareholders might be interested in knowing whether the stock is undervalued, even if the company is performing up to par in the current session. 

<img src="https://www.benzinga.com/files/images/story/2024/1731953711_0.png" alt="Past Year Chart" />

<h3>Evaluating JM Smucker P/E in Comparison to Its Peers</h3>
The P/E ratio is used by long-term shareholders to assess the company's market performance against aggregate market data, historical earnings, and the industry at large. A lower P/E could indicate that shareholders do not expect the stock to perform better in the future or it could mean that the company is undervalued. 
Compared to the aggregate P/E ratio of the 28.41 in the Food Products industry, JM Smucker Inc. has a lower P/E ratio of 15.1. Shareholders might be inclined to think that the stock might perform worse than it's industry peers. It's also possible that the stock is undervalued. 

<img src="https://www.benzinga.com/files/images/story/2024/1731953711_1.png" alt="Guage" />

In summary, while the price-to-earnings ratio is a valuable tool for investors to evaluate a company's market performance, it should be used with caution. A low P/E ratio can be an indication of undervaluation, but it can also suggest weak growth prospects or financial instability. Moreover, the P/E ratio is just one of many metrics that investors should consider when making investment decisions, and it should be evaluated alongside other financial ratios, industry trends, and qualitative factors. By taking a comprehensive approach to analyzing a company's financial health, investors can make well-informed decisions that are more likely to lead to successful outcomes.

Intraday Update

P/E Ratio Insights for JM Smucker

WIIM

MNST

Shares of beverage and packaged food stocks are trading lower after president-elect Trump indicated he would nominate Robert F. Kennedy Jr. to lead the HHS.

<h2 class="wp-block-heading">New On The Block</h2>
Ari Emanuel&#8216;s sports and entertainment conglomerate, Endeavor Group Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EDR#NYSE">EDR</a>), is reviewing a potential sale of IMG tennis assets — including the Miami Open and Madrid Open tennis tournaments. Most of IMG&#8217;s other assets were included in a transaction announced on Thursday with TKO Group Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TKO#NYSE">TKO</a>), the parent company of Ultimate Fighting Championship (UFC) and <a href="https://www.benzinga.com/topic/wwe">World Wrestling Entertainment (WWE)</a>. 
The Frieze Art Fair, a curated event featuring modern and contemporary works, is also for sale. Endeavor acquired a majority stake in April 2016. The Raine Group is advising Endeavor.
See Also: <a href="https://www.benzinga.com/government/24/10/41549838/uk-launches-antitrust-review-of-synopsys-34-billion-ansys-deal-over-growing-concerns">UK Launches Antitrust Review Of Synopsys&#8217; $34 Billion Ansys Deal Over Growing Concerns</a>
<h2 class="wp-block-heading">Off The Block</h2>
TKO, created a year ago from the <a href="https://www.benzinga.com/general/entertainment/23/09/34455843/wwe-and-ufc-merge-on-tuesday-heres-what-you-need-to-know">merger of the WWE and UFC</a>, acquired sports marketing agency IMG from Endeavor in a $3.25 billion all-equity deal that included Fort Worth, Texas-based Professional Bull Riders and live events business On Location. The sale is expected to close in the first half of 2025. Endeavor will end up owning approximately 59% of TKO. Separately, TKO's board has authorized a share-repurchase program of up to $2 billion of Class A common stock.
PPG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPG#NYSE">PPG</a>) agreed to sell its architectural coatings business in the U.S. and Canada for $550 million to private equity firm American Industrial Partners. This ends a sale process first announced in February. The transaction is expected to close in late 2024 or early 2025. Goldman Sachs &amp; Co. LLC advised PPG on the sale while law firm Hogan Lovells U.S. handled legal matters.
Jif peanut butter maker J.M. Smucker (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>) jettisoned its cookie brand, Voortman, to snacks company Second Name Brands for $305 million. Reuters first reported about the auction in July. J.M. Smucker also owns Folgers coffee, Hostess baked snacks, and a variety of pet foods, such as Meow Mix and Kibbles &#8216;n Bits.
<h2 class="wp-block-heading">Updates From The Block</h2>
Biotech firm ProPhase Labs, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRPH#NASDAQ">PRPH</a>) <a href="https://www.nasdaq.com/press-release/prophase-labs-announces-positive-updates-strategic-initiatives-company-anticipates">engaged</a> ThinkEquity to advise the sale of PMI. So far, more than 70 potential acquirers are in consideration. The deal is expected to close in 2025.
Durham, North Carolina-based Wolfspeed Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>) <a href="https://www.ft.com/content/b31d96e7-9c1c-44d9-b358-ebe8ce7842c1">put</a> plans for a German semiconductor plant on hold. The development comes about two months after activist investment firm, Jana Partners, started urging the Wolfspeed board to explore a sale of the entire company.
Verizon Communications Inc. ((NYSE, NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NASDAQ">VZ</a>) offered to buy Frontier Communications (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FYBR#NASDAQ">FYBR</a>) for $38.50 per share. The Frontier board had been considering a sale; it recommended stockholders vote "for" the transaction.
<h2 class="wp-block-heading">Bankruptcy Block</h2>
Radford Motors, a luxury car manufacturer owned by British TV personality Ant Anstead, <a href="https://people.com/ant-anstead-supercar-company-radford-motors-files-for-bankruptcy-8733015">filed</a> Chapter 11. People Magazine broke the story. This year, Hiphi, a Chinese EV startup, backed by Human Horizons, filed for bankruptcy in August. E.Go, a German electric car maker, filed for insolvency for the second time in March and entered liquidation in May.
Now Read:
<ul>
<li><a href="EXCLUSIVE: Anthony Scaramucci Predicts 'Acceptance Of Stablecoins' As Digital Dollars With Upcoming Crypto-Friendly Congress">EXCLUSIVE: Anthony Scaramucci Predicts &#8216;Acceptance Of Stablecoins&#8217; As Digital Dollars With Upcoming Crypto-Friendly Congress</a></li>
</ul>

Asset Sales

BLCO

FYBR

PRPH

WOLF

Deal Dispatch: UFC, WWE Parent TKO Takes On Bull Riding; Endeavor Looks To Sell Tennis; Another Car Company Goes Bankrupt

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Citigroup raised Eli Lilly and Company  (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) price target from $1,060 to $1,250. Citigroup analyst Peter Verdult maintained a Buy rating. Eli Lilly shares closed at $891.32 on Thursday. See how other analysts view this stock.</li>
<li>RBC Capital cut the price target for Whirlpool Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHR#NYSE">WHR</a>) from $76 to $74. RBC Capital analyst Mike Dahl maintained an Underperform rating. Whirlpool shares closed at $110.37 on Thursday. <a href="https://www.benzinga.com/quote/WHR/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Maxim Group raised the price target for LendingClub Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LC#NYSE">LC</a>) from $16 to $19. Maxim Group analyst Michael Diana maintained a Buy rating. LendingClub shares closed at $13.82 on Thursday. <a href="https://www.benzinga.com/quote/LC/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Deutsche Bank raised Skechers U.S.A., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKX#NYSE">SKX</a>) price target from $83 to $84. Deutsche Bank analyst Krisztina Katai maintained a Buy rating. Skechers shares settled at $61.63 on Thursday. <a href="https://www.benzinga.com/quote/SKX/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Raymond James cut Waste Connections, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WCN#NYSE">WCN</a>) price target from $208 to $205. Raymond James analyst Patrick Tyler Brown maintained a Strong Buy rating. Waste Connections shares closed at $178.56 on Thursday. <a href="https://www.benzinga.com/quote/WCN/analyst-ratings">See how other analysts view this stock.</a></li>
<li>JP Morgan cut Keurig Dr Pepper Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KDP#NASDAQ">KDP</a>) price target from $41 to $40. JP Morgan analyst Andrea Teixeira maintained an Overweight rating. Keurig Dr Pepper shares closed at $34.94 on Thursday. <a href="https://www.benzinga.com/quote/KDP/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Cantor Fitzgerald cut the price target for Coursera, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COUR#NYSE">COUR</a>) from $22 to $10. Cantor Fitzgerald analyst Yi Fu Lee maintained an Overweight rating. Coursera shares settled at $7.62 on Thursday. <a href="https://www.benzinga.com/quote/COUR/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Stifel slashed Union Pacific Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNP#NYSE">UNP</a>) price target from $265 to $262. Stifel analyst Benjamin Nolan maintained a Buy rating. Union Pacific shares closed at $230.75 on Thursday. <a href="https://www.benzinga.com/quote/UNP/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Stifel cut the price target for The J. M. Smucker Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>) from $135 to $125. Stifel analyst Matthew Smith downgraded the stock from Buy to Hold. Smucker shares closed at $117.04 on Thursday. <a href="https://www.benzinga.com/quote/SJM/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Piper Sandler boosted Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) price target from $310 to $315. Piper Sandler analyst Alexander Potter maintained an Overweight rating. Tesla shares closed at $260.48 on Thursday. <a href="https://www.benzinga.com/quote/TSLA/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/10/41543872/how-to-earn-500-a-month-from-waste-management-stock-ahead-of-q3-earnings">How To Earn $500 A Month From Waste Management Stock Ahead Of Q3 Earnings</a></li>
</ul>

Price Target

Analyst Ratings

COUR

TSLA

Tesla To Rally Over 21%? Here Are 10 Top Analyst Forecasts For Friday

Stifel analyst Matthew Smith downgrades JM Smucker (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>) from Buy to Hold and lowers the price target from $135 to $125.

Downgrades

Stifel Downgrades JM Smucker to Hold, Lowers Price Target to $125

The J.M. Smucker Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>) announced today it has entered into a definitive agreement to sell its Voortman&#xAE; cookie brand to Second Nature Brands, a U.S.-based creator of premium snacks and treats controlled by CapVest Partners LLP. The all-cash transaction is valued at approximately $305 million, subject to a working capital adjustment. The decision reflects the Company's continued commitment to optimize its portfolio and reallocate resources to its core growth brands.
The transaction includes all Voortman&#xAE; trademarks and the Company's leased manufacturing facility in Burlington, Ontario, Canada. In addition, approximately 300 employees will transition with the business.

The J.M. Smucker Co. Announces Agreement To Divest Voortman Brand As Part Of Continued Portfolio Optimization; The All-Cash Transaction Is Valued At ~$305M

J M Smucker On U.S. East Coast Ports Strike, Says Have Dedicated Plans To Support Continuity Of Service; Have Plans To Address Potential Challenges, Like Adjusting Production Plans To Maximize Finished Goods Production; Also Evaluating West Coast Routing Options

U.S. stocks were lower, with the Nasdaq Composite falling around 2% on Tuesday.
Shares of Vaxcyte, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCVX#NASDAQ">PCVX</a>) rose sharply during Tuesday's session after the company released topline results from the Phase 1/2 study evaluating the safety, tolerability and immunogenicity of VAX-31, the company&#8217;s 31-valent pneumococcal conjugate vaccine (PCV) candidate designed to prevent <a href="https://www.benzinga.com/general/biotech/24/09/40688264/bacterial-infections-vaccine-developer-vaxcytes-pneumococcal-shot-shows-promise-in-mid-stage-tria">invasive pneumococcal disease.</a>
VAX-31 was well tolerated and demonstrated a safety profile at all doses studied through the full six-month evaluation period, similar to Pfizer Inc&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) Prevnar 20 (PCV20).
Vaxcyte shares jumped 43.5% to $115.92 on Tuesday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Sable Offshore Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOC#NYSE">SOC</a>) shares rose 28.8% to $21.69.</li>
<li>Shoals Technologies Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHLS#NASDAQ">SHLS</a>) gained 21.8% to $6.57 after the company received a favorable legal ruling from the U.S. ITC in its patent infringement complaint against Voltage, LLC and a related foreign entity.</li>
<li>Polestar Automotive Holding UK PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSNY#NASDAQ">PSNY</a>) rose 16% to $1.4150 after the company appointed former Stellantis executive Jean-Francois Mady as its new CFO.</li>
<li>Big Tree Cloud Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DSY#NASDAQ">DSY</a>) gained 12.6% to $5.99.</li>
<li>Applied Optoelectronics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAOI#NASDAQ">AAOI</a>) jumped 10.7% to $12.57 after Raymond James upgraded the stock from Market Perform to Outperform and announced a $17 price target.</li>
<li>Unity Software Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/U#NYSE">U</a>) rose 9.4% to $17.91 after Morgan Stanley upgraded the stock from Equal-Weight to Overweight.</li>
<li>BridgeBio Pharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BBIO#NASDAQ">BBIO</a>) jumped 8.5% to $30.24. HC Wainwright &amp; Co. analyst Raghuram Selvaraju reiterated BridgeBio Pharma with a Buy and maintained a $43 price target.</li>
<li>Montana Technologies Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIRJ#NASDAQ">AIRJ</a>) gained 8.4% to $6.05.</li>
<li>Intchains Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICG#NASDAQ">ICG</a>) gained 8.1% to $7.89.</li>
<li>Keros Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KROS#NASDAQ">KROS</a>) climbed 8.1% to $49.04 after the company announced an update on enrollment in the Phase 2 TROPOS trial.</li>
<li>XPeng Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) rose 4.8% to $8.44. XPeng delivered 14K smart EVs in August, up by 3% year over year.</li>
<li>Vera Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VERA#NASDAQ">VERA</a>) gained 4.5% to $39.53. JP Morgan analyst Anupam Rama maintained Vera Therapeutics with an Overweight and raised the price target from $62 to $72.</li>
<li>Novavax, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVAX#NASDAQ">NVAX</a>) rose 4.5% to $12.94. Friday, the FDA granted Emergency Use Authorization to the company's COVID-19 Vaccine, Adjuvanted (2024-2025 Formula) (NVX-CoV2705) for active immunization to prevent COVID-19 in individuals aged 12 and older.</li>
<li>Bilibili Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BILI#NASDAQ">BILI</a>) gained 3.7% to $14.91. B of A Securities analyst Brad Sills maintained Bilibili with a Buy and raised the price target from $18 to $19.</li>
<li>The J. M. Smucker Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>) rose 3.1% to $118.27.</li>
</ul>
Now Read This:<a href="https://www.benzinga.com/trading-ideas/long-ideas/24/09/40683473/top-3-tech-and-telecom-stocks-which-could-rescue-your-portfolio-this-month"> </a>
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/09/40683473/top-3-tech-and-telecom-stocks-which-could-rescue-your-portfolio-this-month">Top 3 Tech And Telecom Stocks Which Could Rescue Your Portfolio This Month</a></li>
</ul>

Movers

AAOI

AIRJ

BBIO

BILI

KROS

NVAX

PCVX

PSNY

SHLS

VERA

XPEV

Vaxcyte, Shoals Technologies, Polestar Automotive, Applied Optoelectronics And Other Big Stocks Moving Higher On Tuesday

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a<a href="https://www.benzinga.com/yield-investments"> high dividend payout</a>.
Benzinga readers can review the latest analyst takes on their favorite stocks by visiting <a href="https://www.benzinga.com/analyst-stock-ratings">Analyst Stock Ratings</a> page. Traders can sort through Benzinga's extensive database of analyst ratings, including <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">by analyst accuracy</a>.
Below are the ratings of the most accurate analysts for three high-yielding stocks in the consumer staples sector.
<h3 class="wp-block-heading">Walgreens Boots Alliance, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NASDAQ">WBA</a>)</h3>
<ul>
<li>Dividend Yield: 10.81%</li>
<li>UBS analyst Kevin Caliendo maintained a Neutral rating and cut the price target from $17 to $12 on July 3. This analyst has an accuracy rate of 74%.</li>
<li>RBC Capital analyst Ben Hendrix maintained a Sector Perform rating and slashed the price target from $22 to $13 on July 2. This analyst has an accuracy rate of 76%.</li>
<li>Recent News: On Aug. 19, Walgreens and BARDA announced a strategic partnership to strengthen decentralized clinical trials model and reporting.</li>
<li>Benzinga Pro's real-time newsfeed alerted to <a href="https://pro.benzinga.com/dashboard">latest WBA news</a></li>
</ul>
<h3 class="wp-block-heading">The Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>)</h3>
<ul>
<li>Dividend Yield: 4.52%</li>
<li>Wells Fargo analyst Chris Carey maintained an Equal-Weight rating and raised the price target from $34 to $35 on Aug. 1. This analyst has an accuracy rate of 63%.</li>
<li>Morgan Stanley analyst Pamela Kaufman maintained an Equal-Weight rating and slashed the price target from $39 to $36 on Nov. 2, 2023. This analyst has an accuracy rate of 66%.</li>
<li>Recent News: On July 31, Kraft Heinz reported better-than-expected second-quarter adjusted EPS results.</li>
<li>Benzinga Pro&#8217;s charting tool helped identify the<a href="https://pro.benzinga.com/dashboard"> trend in KHC stock.</a></li>
</ul>
<h3 class="wp-block-heading">The J. M. Smucker Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>)</h3>
<ul>
<li>Dividend Yield: 3.77%</li>
<li>DA Davidson analyst Brian Holland maintained a Neutral rating with a price target of $121 on Aug. 29. This analyst has an accuracy rate of 67%.</li>
<li>JP Morgan analyst Ken Goldman maintained a Neutral rating and raised the price target from $126 to $128 on Feb. 28. This analyst has an accuracy rate of 81%.</li>
<li>Recent News: On Aug. 28, The J. M. Smucker Company reported upbeat quarterly earnings, but lowered its annual outlook.</li>
<li>Benzinga Pro&#8217;s signals feature notified of a potential <a href="https://pro.benzinga.com/dashboard">breakout in SJM shares</a>.</li>
</ul>

<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="How to Find Dividend Stocks: Scan, Analyze, and Capture with Benzinga Pro" width="500" height="281" src="https://www.youtube.com/embed/pVF0O2lsEH4?start=1&#038;feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
Read More: 
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40677064/this-analyst-with-87-accuracy-rate-sees-over-24-upside-in-nvidia-here-are-5-stock-picks-for-last-wee">This Analyst With 87% Accuracy Rate Sees Over 24% Upside In Nvidia &#8211; Here Are 5 Stock Picks For Last Week From Wall Street&#8217;s Most Accurate Analysts</a></li>
</ul>

Wall Street's Most Accurate Analysts Say Hold These 3 Defensive Stocks With Over 3% Dividend Yields

Barclays analyst Andrew Lazar maintains JM Smucker (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>) with a Equal-Weight and lowers the price target from $123 to $121.

Barclays Maintains Equal-Weight on JM Smucker, Lowers Price Target to $121

Dollar General (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DG#NYSE">DG</a>) announced disappointing second-quarter earnings on Thursday, attributing the results to financially constrained <a href="https://www.benzinga.com/news/earnings/24/08/40623595/dollar-general-q2-earnings-earnings-miss-slashed-outlook-and-shrinking-margins">lower-income consumers</a>.
What Happened: The discount retailer revealed that its core customers, primarily households earning less than $35,000 annually, are feeling more financially pressured than six months ago. CEO Todd Vasos noted that higher prices, softer employment levels, and increased borrowing costs have negatively impacted these consumers.
"The majority of them state that they feel worse off financially than they were six months ago as higher prices, softer employment levels and increased borrowing costs have negatively impacted low-income consumer incentive," he said.
Dollar General reported a 0.5% increase in same-store sales for the quarter ending Aug. 2, falling short of both its own and Wall Street&#8217;s expectations. The growth was driven solely by consumables like food, rather than discretionary items.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40568347/after-binance-and-coinbase-gary-gensler-led-sec-set-to-lock-horns-with-crypto-exchange-kra?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">After Binance And Coinbase, Gary Gensler-Led SEC Set To Lock Horns With Crypto Exchange Kraken</a>
Shares of Dollar General plummeted over 30% following the earnings release. Net sales rose by 4.2% year-over-year to $10.2 billion, while operating profit fell 20.6% to $550 million, partly due to <a href="https://www.benzinga.com/news/earnings/24/08/40623595/dollar-general-q2-earnings-earnings-miss-slashed-outlook-and-shrinking-margins">markdowns and inventory losses</a>.
In contrast, competitors Walmart (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) and Target (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) reported strong sales growth in their <a href="https://www.benzinga.com/markets/equities/24/08/40486532/whats-happening-with-walmart-stock-following-targets-strong-q2-results">latest quarters</a>. Dollar Tree (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>), another rival, is set to report earnings next week.
Why It Matters: The earnings miss by Dollar General underscores a broader trend of cautious consumer spending amid persistent inflation. Even household names like J M Smucker Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>) have warned of reduced consumer spending, affecting <a href="https://www.benzinga.com/markets/equities/24/08/40634810/inflation-is-eating-into-sales-of-companies-across-the-board-even-this-household-food-name">sales across various sectors</a>.
Additionally, economic data has shown a mixed outlook. UBS Global Wealth Management recently increased the probability of a U.S. recession to 25%, citing softening job growth and unsettling unemployment data. Despite this, the firm still anticipates a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40574036/ubs-raises-us-recession-probability-to-25-amid-cloudy-economic-outlook">soft landing for the economy</a>, driven by consumer spending, albeit with a &#8220;cloudy&#8221; economic outlook.
Moreover, traders have scaled back their bets on a significant rate cut by the Federal Reserve, following an upward revision of U.S. GDP growth in <a href="https://www.benzinga.com/news/large-cap/24/08/40639345/traders-scale-back-bets-on-50-basis-point-september-rate-cut-ahead-of-fridays-key-fed-inflation-ga">the second quarter</a>. This adjustment comes as the market eagerly awaits the release of the Personal Consumption Expenditure (PCE) price index, the Fed's preferred inflation gauge.
Initial jobless claims totaled 231,000 for the week ending Aug. 24, down from the upwardly revised 233,000 the previous week and <a href="https://www.benzinga.com/government/24/08/40624663/us-economy-expands-by-3-in-q2-surpasses-earlier-estimates-jobless-claims-little-moved-last-week">slightly below the expected 232,000</a>.
Price Action: Dollar General&#8217;s stock closed at $84.03 on Thursday, down 32.15% for the day. In after-hours trading, the stock slightly recovered by 0.083%. Year to date, the stock has declined by 40.16%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40591572/bitcoin-ethereum-dogecoin-tank-as-over-heated-longs-get-wiped-out-analyst-says-take-a-stoc?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Tank As Over-Heated Longs Get Wiped Out: Analyst Says Take A Stock Of This Before Turning Optimistic On King Crypto</a></li>
</ul>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Equities

Economics

DLTR

Dollar General Says Majority Of People Who Shop There 'Feel Worse Off Financially' Compared With 6 Months Ago Amid Price Hikes, Softer Employment Levels

During this quarter's earnings cycle, many companies have <a href="https://www.benzinga.com/topic/inflation">warned of cautious consumers due to high and persistent inflation. </a>And it's not just big-ticket items such as cars and furniture on which consumers are cutting back.
J M Smucker Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>), the parent company of Smucker's jelly and jams, warned that people are cutting back spending at convenience stores. Smucker's, which also owns the Jif peanut butter and Uncrustable brands, reported stronger-than-expected EPS in the company's first quarter, but the company's lower guidance and cautious commentary led to a sell-off in shares after the report.
Shares closed Wednesday's session down nearly 5%; on Thursday, shares were down 1.30% at $113.32 at publication.
See Also: <a href="https://www.benzinga.com/news/earnings/24/08/40623595/dollar-general-q2-earnings-earnings-miss-slashed-outlook-and-shrinking-margins">Dollar General Q2 Earnings: Earnings Miss, Slashed Outlook And Shrinking Margins </a><a href="https://www.benzinga.com/news/earnings/24/08/40623595/dollar-general-q2-earnings-earnings-miss-slashed-outlook-and-shrinking-margins"> </a>Analysts adjusted their expectations on the packaged-food giant, with CitiGroup, BofA Securities and TD Cowen all lowering their price targets following the report. The company did highlight significant, double-digit growth in its Uncrustable brand, a packaged peanut butter and jelly sandwich found in the frozen section of grocery stores. But, in other areas such as coffee, executives at Smucker's highlighted higher input costs caused the company to raise prices, thus weakening sales.
If consumers continue to cut back on spending at convenience stores and on brand-name products, it could be a headwind for other food companies such as Mondelez International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NASDAQ">MDLZ</a>), Kraft Heinz (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>) and General Mills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>). Thursday morning, Dollar General Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DG#NYSE">DG</a>) <a href="https://www.benzinga.com/news/earnings/24/08/40623595/dollar-general-q2-earnings-earnings-miss-slashed-outlook-and-shrinking-margins">reported earnings</a> that came in below Wall Street estimates and warned of a &#8220;cash-strapped&#8221; customer, echoing the sentiment from Smucker's.
Price consumption expenditures data, the Federal Reserve's preferred gauge of inflation, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40624107/traders-brace-for-feds-favorite-inflation-report-friday-july-price-pressures-expect">will be released Friday morning and should shed more light on whether prices are rising or cooling. </a>Read Next: <a href="https://www.benzinga.com/news/earnings/24/08/40602246/j-m-smucker-cuts-fy25-outlook-following-q1-earnings-read-why">J.M. Smucker Cuts FY25 Outlook Following Q1 Earnings: Read Why</a>
Photo: Shutterstock

General

MDLZ

Inflation Is Eating Into Sales Of Companies Across The Board, Even This Household Food Name

The J. M. Smucker Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>) reported upbeat quarterly earnings, but lowered <a href="https://www.benzinga.com/quote/SJM/earnings">its annual outlook.</a>
JM Smucker reported quarterly earnings of $2.44 per share which beat the analyst consensus estimate of $2.17 per share. The company reported quarterly sales of $2.13 billion which met the analyst consensus estimate.
"These results are driven by the focus we have established and progress we have made in delivering our core business, successfully integrating Hostess Brands, and achieving our goals for transformation, cost discipline, and cash generation," said Mark Smucker, Chair of the Board, President and Chief Executive Officer.
J.M. Smucker said it now expects annual net sales to rise in the range of 8.5% to 9.5%, versus its prior outlook of a 9.5% to 10.5% increase. It now sees fiscal 2025 adjusted earnings of $9.60 to $10.00 per share, versus earlier outlook of $9.80 to $10.20 per share.
J.M. Smucker shares fell 1.4% to trade at $113.12 on Thursday.
These analysts made changes to their price targets on J.M. Smucker following earnings announcement.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5e7353ee5f2b9b00011506f5/peter-galbo">B of A Securities analyst Peter Galbo</a> maintained JM Smucker with a Neutral and lowered the price target from $130 to $122.</li>
<li>Citigroup analyst Thomas Palmer maintained the stock with a Buy and lowered the price target from $138 to $136.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/580f253b846faa000139ba71/robert-moskow">TD Cowen analyst Robert Moskow</a> maintained JM Smucker with a Buy and lowered the price target from $135 to $132.</li>
</ul>
Considering buying SJM stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="507" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/29132420/image-304-1024x507.png" alt="" class="wp-image-521396" style="width:578px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/29132420/image-304-1024x507.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/29132420/image-304-300x149.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/29132420/image-304-768x380.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/29132420/image-304.png 1327w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>

Earnings

These Analysts Slash Their Forecasts On JM Smucker After Q1 Earnings

TD Cowen analyst Robert Moskow maintains JM Smucker (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>) with a Buy and lowers the price target from $135 to $132.

TD Cowen Maintains Buy on JM Smucker, Lowers Price Target to $132

Citigroup analyst Thomas Palmer maintains JM Smucker (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>) with a Buy and lowers the price target from $138 to $136.

Citigroup Maintains Buy on JM Smucker, Lowers Price Target to $136

DA Davidson analyst Brian Holland maintains JM Smucker (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>) with a Neutral and maintains $121 price target.

DA Davidson Maintains Neutral on JM Smucker, Maintains $121 Price Target

B of A Securities analyst Peter Galbo maintains JM Smucker (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>) with a Neutral and lowers the price target from $130 to $122.

B of A Securities Maintains Neutral on JM Smucker, Lowers Price Target to $122

Wall Street faces a wave of risk-off sentiment on Wednesday, as traders adopt a cautious stance ahead of NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) earnings, which are set to be released <a href="https://www.benzinga.com/trading-ideas/24/08/40604296/nvidias-next-earnings-report-could-swing-its-market-cap-by-300-billion-and-increase-the-s-p-500-gai">after the market close.</a>
At midday trading in New York, all major equity indices were in the red, weighed down by broad declines in chipmakers and tech stocks.
The iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>) fell 2%, underperforming the broader tech-heavy Nasdaq 100, down 1.1%. 
The CBOE Volatility Index or VIX, a key barometer of the fear in the market, rose 8%. 
As the last of the Magnificent Seven megacaps to report earnings, Nvidia&#8217;s results are viewed as a crucial indicator of whether the recent market rebound has more room to run, potentially pushing toward new all-time highs, or if it&#8217;s time for investors to dial back risk.
Key metrics to watch include whether Nvidia surpasses the projected $28.7 billion in quarterly revenue — a staggering 156% increase from the same quarter last year — and $0.645 earnings per share, more than triple from the same period in 2022. 
Nvidia&#8217;s forward guidance will also be critical, as investors seek insight into the demand for its leading AI-related chips and any challenges posed by China.
In a significant achievement during Wednesday&#8217;s session, Warren Buffett&#8217;s Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) reached <a href="https://www.benzinga.com/top-stories/24/08/40604676/warren-buffetts-berkshire-hathaway-breaks-1-trillion-poll-points-to-big-pharma-not-tech-as-next-cont">the milestone of a $1 trillion market valuation.</a>
The U.S. dollar is showing a modest recovery, up 0.4% after closing Tuesday at its lowest level since July 2023. Treasury yields remain stable, while gold is struggling, down 0.6%, with silver experiencing a sharper 2% decline.
Oil prices continue to fall, with WTI crude down 1.3%, as traders unload the risk premium amid easing geopolitical tensions in the Middle East and less concerning Libyan production disruptions than initially feared.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) remains under pressure, down 1% to $58,850, following a more than 7% decline over the past two sessions.
<h1 class="wp-block-heading">Wednesday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>Chg %</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>41,053.09</td>
<td>-0.5%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,592.49</td>
<td>-0.6%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,191.39</td>
<td>-0.6%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,362.15</td>
<td>-1.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:10 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082824&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.7% down to $557.94.</li>
<li>The SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) eased down 0.4% to $411.11.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) declined 1.2% to $470.98.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.7% to $217.34.</li>
<li>The Financials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) outperformed, up by 0.2%. The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) lagged, down by 1.5%.</li>
</ul>
<h1 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h1>
<ul>
<li>Super Micro Computer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NYSE">SMCI</a>) plunged 26% after announcing it won&#8217;t meet the deadline to file its annual Form 10-K for the fiscal year ended June 30. This comes just a day after short-seller <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40606308/super-micro-computer-short-report-shows-limited-evidence-of-accounting-wrongdoing-a">Hindenburg Research released</a> a report accusing the company of accounting manipulation.</li>
<li>Other crypto-related stocks weakened, with CleanSpark Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLSK#NASDAQ">CLSK</a>), Coinbase Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), Marathon Digital Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) down 5.3%, 4.7% and 4.6% respectively. </li>
<li>Chewy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>) rallied 14% in reaction to its upbeat quarterly earnings.</li>
<li>Other stocks reacting to company earnings were Abercrombie &amp; Fitch Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANF#NYSE">ANF</a>) down 17%, Ambarella Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMBA#NASDAQ">AMBA</a>) up 9%, Bath &amp; Body Works, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBWI#NYSE">BBWI</a>) down 6%, Box Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>) up 7.5%, Donaldson Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DCI#NYSE">DCI</a>) down 4.3%, Foot Locker Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FL#NYSE">FL</a>) down 12%, Nordstrom Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JWN#NYSE">JWN</a>) up 4%, PVH Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PVH#NYSE">PVH</a>) up 6.6%, SentinelOne Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/S#NYSE">S</a>) down 2% and J.M. Smucker Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>) down 5.8%.</li>
<li>Companies reporting after the close included Nvidia Corp., Salesforce Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>), CrowdStrike Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>), HP Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPQ#NYSE">HPQ</a>), Veeva Systems Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VEEV#NYSE">VEEV</a>), NetApp Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTAP#NASDAQ">NTAP</a>), Pure Storage Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSTG#NYSE">PSTG</a>), Cooper Companies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COO#NASDAQ">COO</a>), Okta Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OKTA#NASDAQ">OKTA</a>), Nutanix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTNX#NASDAQ">NTNX</a>), Affirm Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>), Five Below Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVE#NASDAQ">FIVE</a>) and Victoria Secret &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VSCO#NYSE">VSCO</a>).</li>
</ul>
Read Now:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/08/40604424/10-etfs-poised-for-wild-swings-following-nvidia-earnings">10 ETFs Poised For Wild Swings Following Nvidia Earnings</a> Don&#8217;t miss the opportunity to dominate in a volatile market at the <a href="https://www.benzinga.com/events/small-cap/global-small-cap-conference-2024/" target="_blank" rel="noreferrer noopener">Benzinga SmallCAP Conference</a> on Oct. 9-10 at the Chicago Marriott Downtown Magnificent Mile. Get exclusive access to CEO presentations, 1:1 meetings with investors and valuable insights from top financial experts. Whether you&#8217;re a trader, entrepreneur or investor, this event offers unparalleled opportunities to grow your portfolio and network with industry leaders. Secure your spot and get your tickets today! Photo: Shutterstock</li>
</ul>

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Large Cap

Mid Cap

Sector ETFs

Broad U.S. Equity ETFs

Commodities

Small Cap

ETFs

$BTC

AFRM

AMBA

BBWI

CHWY

CLSK

COIN

CRWD

SPDR Dow Jones Industrial Average ETF Trust

FIVE

MARA

NTAP

NTNX

NVDA

OKTA

PSTG

SMCI

iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

VEEV

VSCO

US Stocks, Chipmakers Fall Ahead Of Nvidia Earnings, Berkshire Hits $1 Trillion, Super Micro Computer Sinks: What's Driving Markets Wednesday?

The J.M. Smucker Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>) shares are<a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/n40596898/the-j-m-smucker-co-announces-fiscal-2025-first-quarter-results" rel="noreferrer noopener"> trading lower on Wednesday.</a>
The company reported first-quarter adjusted earnings per share of $2.44 (+10% Y/Y), beating the analyst consensus estimate of $2.17. Quarterly sales of $2.125 billion (+18% Y/Y) <a href="https://www.benzinga.com/earnings">slightly missed the Street view of $2.133 billion.</a>
&#8220;These results are driven by the focus we have established and progress we have made in delivering our core business, successfully integrating Hostess Brands, and achieving our goals for transformation, cost discipline, and cash generation,&#8221; said&nbsp;Mark Smucker, Chair of the Board, President and Chief Executive Officer.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40598540/bath-body-works-q2-eps-manages-to-beat-but-sales-stumble-ceo-promises-to-navigate-retail-storms" rel="noreferrer noopener">Bath &amp; Body Works&#8217; Q2 EPS Manages To Beat, But Sales Stumble – CEO Promises To Navigate Retail Storms</a>
Gross profit rose by $142.4 million, or 22%. Adjusted gross profit increased&nbsp;$188.1 million, or 29%.
This increase was largely due to the acquisition of Hostess Brands and positive volume/mix effects, though the impact of divestitures partially offset it.
Operating cash flow was $172.9 million, down from $217.9 million in the prior year, primarily due to increased cash needed for working capital, though partially offset by higher net income adjusted for noncash items.
Outlook: J.M. Smucker projects FY25 Adjusted&nbsp;EPS to range $9.60 to $10.00, compared to the prior estimate of $9.80 to $10.20 and the $10.03 estimate.
The company also expects net sales growth of 8.5% to 9.5%, down from the previous range of 9.5% to 10.5%. Comparable net sales<a target="_blank" href="https://newsdesk.benzinga.com/calendar/guidance" rel="noreferrer noopener"> is expected to increase approximately 0.5%-1.5%.</a>
&#8220;The updated net sales guidance reflects an ongoing dynamic consumer environment driven by inflationary pressures and diminished discretionary income affecting the dog snacks and sweet baked goods categories, and the anticipated impacts of elasticity of demand within our coffee portfolio due to additional pricing actions as a result of higher than expected green coffee costs, partially offset by increased expectations for&nbsp;Uncrustables&nbsp;sandwiches,&#8221; the company said.
Price Action: SJM shares are trading lower by 4.59% to $115.16 at last check Wednesday.
Photo by Willis Lam <a href="https://www.flickr.com/photos/85567416@N03/15820668979">via Flickr</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/08/40596411/nasdaq-s-p-500-futures-flatline-as-traders-await-earnings-report-from-ai-barometer-nvidia-fund-mana" target="_blank" rel="noreferrer noopener">Nasdaq, S&amp;P 500 Futures Flatline As Traders Await Earnings Report From AI Barometer Nvidia: Fund Manager Says Market Could Hold Up Until Presidential Election</a></li>
</ul>

Guidance

J.M. Smucker Cuts FY25 Outlook Following Q1 Earnings: Read Why

U.S. stocks traded mixed this morning, with the Dow Jones index gaining over 50 points on Wednesday.
The Dow traded up 0.17% to 41,321.67 while the NASDAQ fell 0.42% to 17,679.73. The S&amp;P 500 also fell, dropping, 0.07% to 5,621.87.
Check This Out:<a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40596469/4-5m-bet-on-this-consumer-cyclical-stock-check-out-these-3-stocks-executives-are-buying"> $4.5M Bet On This Consumer Cyclical Stock? Check Out These 3 Stocks Executives Are Buying</a>
Leading and Lagging Sectors Financials shares climbed by 0.2% on Wednesday.
In trading on Wednesday, energy shares fell by 0.8%.
Top Headline
The J. M. Smucker Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJM#NYSE">SJM</a>) reported upbeat quarterly earnings, but lowered its annual outlook.
JM Smucker reported quarterly earnings of $2.44 per share which beat the analyst consensus estimate of $2.17 per share. The company reported quarterly sales of $2.13 billion which met the analyst consensus estimate.
J.M. Smucker said it now expects annual net sales to rise in the range of 8.5% to 9.5%, versus its prior outlook of a 9.5% to 10.5% increase. It now sees fiscal 2025 adjusted earnings of $9.60 to $10.00 per share, versus earlier outlook of $9.80 to $10.20 per share.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Bolt Projects Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BSLK#NASDAQ">BSLK</a>) shares shot up 87% to $3.8842.</li>
<li>Shares of Virax Biolabs Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRAX#NASDAQ">VRAX</a>) got a boost, surging 49% to $7.29 after the company announced a distribution agreement to commercialize Mpox virus RT-PCR detection kits in Europe and the Middle East.</li>
<li>BranchOut Food Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BOF#NASDAQ">BOF</a>) shares were also up, gaining 47% to $0.9848 after the company reported a year-over-year increase in its H1 revenue results.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Agape ATP Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATPC#NASDAQ">ATPC</a>) shares dropped 24% to $0.0896. AGAPE ATP announced a 1-for-20 reverse stock split effective Aug. 30.</li>
<li>Shares of Neurocrine Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBIX#NASDAQ">NBIX</a>) were down 19% to $123.20 despite its Phase 2 study of NBI-1117568 in schizophrenia meeting its primary endpoint.</li>
<li>Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) was down, falling 18% to $451.42 after the company announced that it will delay its Form 10-K filing.</li>
</ul>
Commodities In commodity news, oil traded down 1.1% to $74.73 while gold traded down 0.6% at $2,537.80.
Silver traded down 2.2% to $29.33 on Wednesday, while copper fell 1.7% to $4.2305.
Euro zone
European shares were mostly higher today. The eurozone's STOXX 600 gained 0.4%, Germany's DAX rose 0.8% and France's CAC 40 rose 0.4%. Spain's IBEX 35 Index rose 0.2%, while London's FTSE 100 fell 0.1%.
Bank lending to households in the Eurozone climbed by 0.5% year-over-year to €6.883 trillion in July. Industrial sales in Italy increased by 0.1% from the prior month in June. The consumer confidence indicator in France climbed to 92.1 in August from 90 in the prior month.
Asia Pacific Markets
Asian markets closed mixed on Wednesday, with Japan's Nikkei 225 gaining 0.22%, Hong Kong's Hang Seng Index falling 1.02%, China's Shanghai Composite Index falling 0.40% and India's BSE Sensex rising 0.09%.
The index of leading economic indicators in Japan came in at 109 in June compared to 111.1 in the prior month. The index of coincident economic indicators in Japan fell to 113.2 in June from 117.1 in May.
Economics
Mortgage applications in the U.S. rose 0.5% from the earlier week in the period ending Aug. 23.
Now Read This:
<ul>
<li> <a href="https://www.benzinga.com/news/24/08/40599186/top-2-tech-stocks-that-may-fall-off-a-cliff-in-august">Top 2 Tech Stocks That May Fall Off A Cliff In August</a></li>
</ul>

Eurozone

ATPC

BSLK

NBIX

VRAX

US Stocks Mixed; JM Smucker Slashes Annual Guidance

J. M. Smucker declares $1.08 dividend

Stifel analyst Matthew Smith downgraded J.M. Smucker (SJM) to Hold from Buy with a price target of $125, down from $135. The firm lowered estimates...

J.M. Smucker downgraded to Hold from Buy at Stifel

Kraft Heinz and J.M. Smucker downgraded as input cost inflation headwinds persist

Let's take a look at the volatility picture as it stands today, and see what the volatility markets are telling us about the election.

What Today's Volatility Tells Us About Tomorrow's Election

Dividend Champion, Contender, And Challenger Highlights: Week Of November 10

67 Aristocrats November Dividend Cornucopia Has 39 'Safer' And 2 Ideal Dogs

CPI read: Food prices ran below the overall inflation rate in October

Investors lose their appetite for food stocks on Trump's pick to lead HHS

J.M. Smucker: A Stable Business That Deserves Attention, Hold For Now

Analyst Christopher Carey from Wells Fargo maintained a Buy rating on JM Smucker (SJM – Research Report) and keeping the price target at $130.00. C...

Comments

JM Smucker

Notizie

Ultime notizie per JM Smucker (NYSE:SJM) Azioni

Le persone guardano anche

Notizie

PARTNER/COLLABORATORE

BENZINGA NEL MONDO