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J M Smucker Co (SJM.N)

SJM.N on New York Stock Exchange

120.18USD
18 Apr 2018
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Latest Key Developments (Source: Significant Developments)

J. M. Smucker To Acquire Ainsworth Pet Nutrition Llc
Thursday, 5 Apr 2018 

April 4 (Reuters) - J M Smucker Co ::THE J. M. SMUCKER COMPANY TO ACQUIRE AINSWORTH PET NUTRITION, LLC, MAKER OF RACHAEL RAY™ NUTRISH® PET FOOD; COMPANY TO EXPLORE STRATEGIC OPTIONS FOR U.S. BAKING BUSINESS.TRANSACTION VALUED AT APPROXIMATELY $1.7 BILLION, AFTER AN ESTIMATED TAX BENEFIT OF $200 MILLION.ANNUAL COST SYNERGIES OF $55 MILLION EXPECTED WITHIN FIRST THREE YEARS AFTER ACQUISITION.WILL EXPLORE STRATEGIC OPTIONS FOR ITS U.S. BAKING BUSINESS, INCLUDING A POTENTIAL SALE.COMPANY ANTICIPATES ACQUIRED BUSINESS TO CONTRIBUTE NET SALES OF ABOUT $800 MILLION IN FIRST FULL YEAR AFTER CLOSING TRANSACTION.STRATEGIC REVIEW OF U.S. BAKING BUSINESS EXPECTED TO BE COMPLETED BY END OF Q1 OF CO'S FISCAL 2019.POST EFFECT OF FIRST YEAR OF SYNERGIES, EXPECTS ACQUIRED BUSINESS TO CONTRIBUTE ABOUT $0.25 OF ACCRETION TO CO'S ADJUSTED EARNINGS PER SHARE.DEAL IS AN ALL-CASH TRANSACTION, WHICH CO WILL FUND WITH DEBT.COMPANY EXPECTS TO INCUR APPROXIMATELY $50 MLN IN ONE-TIME COSTS RELATED TO ACQUISITION.  Full Article

J. M. Smucker Announces Termination Of Deal To Buy ConAgra's Wesson Oil
Wednesday, 7 Mar 2018 

March 6 (Reuters) - J M Smucker Co ::THE J. M. SMUCKER COMPANY ANNOUNCES TERMINATION OF AGREEMENT TO ACQUIRE THE WESSON® OIL BRAND FROM CONAGRA BRANDS, INC..J M SMUCKER - MUTUALLY DETERMINED WITH CONAGRA IT IS "NOT IN BEST INTEREST" TO EXPEND MORE TIME & RESOURCES TO CHALLENGE FTC'S ADMINISTRATIVE COMPLAINT​.  Full Article

J. M. Smucker Co Announces Pricing Of Notes Offering
Tuesday, 5 Dec 2017 

Dec 4 (Reuters) - J M Smucker Co ::THE J. M. SMUCKER COMPANY ANNOUNCES PRICING OF NOTES OFFERING.J M SMUCKER - ‍PRICING OF $300 MILLION AGGREGATE PRINCIPAL AMOUNT OF 2.200% NOTES DUE 2019 AND $500 MILLION AGGREGATE PRINCIPAL AMOUNT OF 3.375% NOTES DUE 2027​.  Full Article

Smucker on conf call- Will have a greater benefit from lower green coffee cost in Q4
Thursday, 16 Nov 2017 

Nov 16 (Reuters) - J M Smucker :Had Q2 double-digit sales increases for Nature's Recipe, Dunkin' Donuts and Jif, and high single digit growth for Uncrustables‍​.Can capitalize on strength of brands like Folgers, Smucker's, Jif by expanding reach through introduction of new platforms such as premium coffee and snacking.On conf call- e-commerce sales for pet food brands doubled in Q2, Jif peanut butter rose over 75% and coffee sales increased over 150%.On conf call- just over 2% of U.S. Retail sales came from e-commerce in Q2.New agreement with Keurig has lower costs, helps expand distribution of our brands and sell multiple pack sizes and new varieties.Q2 commodity cost, notably green coffee, were higher but were offset by the overall higher net pricing.Q2 net sales for folgers declined 6% driven by roast and ground coffee as folgers k-cups sales were flat.Lower green coffee cost will have a greater benefit in Q4, Q3 will experience a sharp increase in marketing spend, reflecting our U.S. Olympics sponsorship.Executive on conf call- coffee business "fragmented, it's not as simple as it was 10 years ago".We do about 20- 21% of our coffee business in k-cups." we think there's an opportunity to as much as double our k-cup business over time"."Our opinion is there's going to be a lot of arabica coffee in the world next year".  Full Article

The J. M. Smucker says qtrly ‍net income per share $1.71​
Thursday, 16 Nov 2017 

Nov 16 (Reuters) - J M Smucker Co -:The J. M. Smucker Company announces fiscal 2018 second quarter results.J M Smucker Co - ‍company updated its full-year 2018 net sales and earnings outlook​.J M SMUCKER CO - qtrly ‍net income per diluted share increased 13 percent to $1.71​.J M Smucker Co - qtrly ‍adjusted earnings per share was $2.02.J M Smucker Co - qtrly net sales $‍1,923.6​ million versus $1,913.9 million.J M Smucker Co - sees FY ‍2018 adjusted earnings per share $7.75 - $7.90​.J M Smucker Co - ‍FY 2018 net sales are expected to be in range of flat to down slightly, compared to prior year​.J M Smucker Co - qtrly U.S. retail coffee sales $552.7‍​ million.J M Smucker Co - qtrly U.S. retail consumer food sales $531.5 ‍​million.Q2 earnings per share view $1.90 -- Thomson Reuters I/B/E/S.Q2 revenue view $1.89 billion -- Thomson Reuters I/B/E/S.FY2018 earnings per share view $7.72 -- Thomson Reuters I/B/E/S.FY2018 revenue view $7.37 billion -- Thomson Reuters I/B/E/S.  Full Article

J M Smucker sets dividend of $0.78 per share
Saturday, 21 Oct 2017 

Oct 20 (Reuters) - J M Smucker Co :Sets dividend of $0.78 per share.  Full Article

J. M. Smucker Company announces qtrly dividend increase of 4 pct to $0.78 per share
Thursday, 20 Jul 2017 

July 19 (Reuters) - J M Smucker Co :The J M Smucker Co announces dividend increase.Board of Directors has approved an increase in quarterly dividend from $0.75 to $0.78 per common share.Board of Directors has approved an increase of 4 percent in quarterly dividend.  Full Article

Canadian Food Inspection Agency says Smucker Foods Of Canada recalls Robin Hood Brand All Purpose Flour, Original due to possible E. coli O121 contamination
Wednesday, 29 Mar 2017 

Canadian Food Inspection Agency : Canadian Food Inspection Agency - Smucker Foods Of Canada Corp is recalling Robin Hood Brand All Purpose Flour, Original from the marketplace . Canadian Food Inspection Agency - Recall triggered by findings by Canadian Food Inspection Agency during investigation into foodborne illness outbreak . Canadian Food Inspection Agency - Smucker Foods Of Canada recalling Robin Hood Brand All Purpose Flour, Original due to possible E. coli O121 contamination . Canadian Food Inspection Agency - There has been one reported illness associated with the consumption of the product .Canadian Food Inspection Agency - Robin Hood Brand All Purpose Flour, Original has been sold in British Columbia, Alberta, Saskatchewan, and Manitoba.  Full Article

J M Smucker - do not have a place in mass premium pet foods, continue to evaluate acquisitions or licensing there
Tuesday, 23 Aug 2016 

J M Smucker Co : On conf call - expect softness in pet foods to continue in near term . On conf call - folgers K-cup volume trends improved in q1 . On conf call - have plans to introduce new pacaking later this year and enhanced brand suport for Kibbles 'n Bits . Have introduced bonus bags for Kibbles 'n Bits supported by lower input costs, expect this to help moderate declines . Lower Q2 pet food sales due to double-digit declines for natural balance and Kibbles 'n Bits, mid-single-digit declines for Meow Mix and 9lives cat food . Progressing on whitespace opportunities in mainstream pet food driven by consumer preference for additional protein and natural ingredient options . Exec - Kibbles 'n Bits brand has been struggling over past year or so, bonus bags decelerating the losses that we were seeing previously . Do not have a place in mass premium pet foods, continue to evaluate acquisitions, licensing or launching existing brands in that segment . Natural Balance brand has not lost any shelf space, pet specialty store channel seeing some overall slowdown in traffic Further company coverage: [SJM.N] ((bangalore.newsroom@thomsonreuters.com;)).  Full Article

J M Smucker Q1 adjusted earnings per share $1.86
Tuesday, 23 Aug 2016 

J M Smucker Co : The J. M. Smucker company announces fiscal 2017 first quarter results . Q1 adjusted earnings per share $1.86 . Q1 earnings per share $1.46 . Q1 net sales $1.82 billion versus $1.95 billion last year . Q1 revenue view $1.89 billion -- Thomson Reuters I/B/E/S . Says excluding impact of divestiture, fiscal 2017 net sales are expected to range from flat to down 1 percent . Says adjusted earnings per share is unchanged and expected to range from $7.60 to $7.75 in fiscal 2017 . Sees FY 2017 adjusted earnings per share $7.60 to $7.75 . Sees FY 2017 sales down 2 to 3 percent . Q1 U.S. Retail consumer food sales $537.0 million versus $582.2 million last year . Q1 U.S. Retail coffee sales $513.3 million versus $565 million last year . J M Smucker Co says change in 2017 sales guidance is based on a reduced net sales forecast for u.s. Retail pet foods . Sees full-year fiscal 2017 comparable net sales change flat to down 1 percent versus prior year . FY2017 earnings per share view $7.70, revenue view $7.74 billion -- Thomson Reuters I/B/E/S . Q1 earnings per share view $1.74, revenue view $1.89 billion -- Thomson Reuters I/B/E/S .J M Smucker Co says company remains on track to achieve $100 million of incremental synergies in fiscal 2017.  Full Article

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J.M. Smucker to buy Ainsworth Pet Nutrition for $1.9 billion

J. M. Smucker Co said on Wednesday it would buy Rachael Ray Dog food maker Ainsworth Pet Nutrition for about $1.9 billion in cash to strengthen its pet food portfolio, and was exploring options for its U.S. baking business, including a sale.