J M Smucker Co (NYSE:SJM) reported better-than-expected earnings for its fourth quarter.
The company posted fourth-quarter FY23 sales growth of 10% year-on-year to $2.23 billion, beating the analyst consensus estimate of $2.17 billion. Adjusted EPS of $2.64 beat the Street view of $2.37.
J M Smucker said it sees FY24 adjusted EPS of $9.20 – $9.60 versus the consensus of $9.46.
Smucker shares fell 1.8% to close at $146.23 on Tuesday.
These analysts made changes to their price targets on Smucker following earnings announcement.
- Bernstein raised the price target on Smucker from $135 to $142. Bernstein analyst Alexia Howard maintained an Underperform rating.
- Stifel lowered the price target on Smucker from $168 to $160. Stifel analyst Matthew Smith maintained a Hold rating.
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