# The J. M. Smucker Company (SJM)

> Source: Nexqual · https://nexqual.com/SJM · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, The J. M. Smucker Company (SJM), nexqual.com/SJM" · informational, not investment advice.

**Price:** USD 133.39 (+4.37% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 127.81 · day 128.72–133.42 · 52w 88.25–135.89 · market cap $14.2B · NYQ

## Key facts
- Last four reported quarters (through Jul 31, 2026): revenue $9.16B, net income $230M (2.5% margin), free cash flow $1.59B (SEC filings).
- Valuation: P/E 62.1x, EV/EBITDA 17.9x, net debt $6.50B.
- 2 of 80 tracked superinvestors hold SJM (13F, Q2 2026): 0 new, 0 added, 2 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 8 Form 4 filings, $17.5M; 8 not under a Rule 10b5-1 plan ($17.5M); 4 by opportunistic insiders (4 outside 10b5-1 plans), 2 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.32 on a 1–5 scale) (19 analysts), mean target USD 141.81 (range 120–160).
- Total return with dividends: 1Y +35.4% vs S&P 500 +14.9%; 5Y +29.0% vs S&P 500 +80.3%.
- Next earnings: 2026-11-24, EPS estimate USD 2.55, revenue estimate $2.26B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $8.00B | $8.53B | $8.18B | $8.73B | $9.05B | $9.16B |
| Gross profit | $2.70B | $2.80B | $3.12B | $3.38B | $3.03B | — |
| Operating income | $1.02B | $158M | $1.31B | -$674M | $360M | $826M |
| Net income | $632M | -$91.3M | $744M | -$1.23B | -$139M | $230M |
| EPS (diluted) | $5.83 | -$0.86 | $7.13 | -$11.57 | -$1.30 | — |
| Free cash flow | $719M | $717M | $643M | $817M | $1.16B | $1.59B |
| Gross margin | 33.8% | 32.8% | 38.1% | 38.8% | 33.5% | — |
| Operating margin | 12.8% | 1.8% | 16.0% | -7.7% | 4.0% | 9.0% |
| Net margin | 7.9% | -1.1% | 9.1% | -14.1% | -1.5% | 2.5% |
| Revenue growth | +0.0% | +6.6% | -4.1% | +6.7% | +3.7% | — |
| Cash + short-term investments | $170M | $656M | $62.0M | $69.9M | $58.6M | — |
| Total debt | $4.31B | $4.31B | $7.77B | $7.04B | $6.54B | — |
Fiscal years end Apr. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jul 31, 2026)
P/E 62.1x · P/S 1.6x · EV/EBITDA 17.9x · EV/Sales 2.3x · P/FCF 9.0x · P/B 2.5x · FCF yield 11.15% · Earnings yield 1.61% · Dividend yield (paid, TTM) 3.28% · Buyback yield (TTM) 0.05% · Net debt $6.50B · EV $20.8B

## Superinvestors (SEC 13F-HR, Q2 2026)
2 of 80 tracked investors hold SJM. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| John Rogers | Ariel Investments | 2.02% | $202M | Reduced -3.3% |
| Lee Ainslie | Maverick Capital | 0.03% | $3.1M | Reduced -7.1% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 8 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-31 | Ferguson Robert D | Chief Product Supply Officer | 2,522 | $334K | 6.6% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-08-31 | Smucker Mark T | CEO, Chair of Board | 84,821 | $11.1M | 26.1% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-08-28 | Marshall Tucker H | Chief Financial Officer | 18,482 | $2.4M | 31.5% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-06-29 | Penrose Jill R | Chief People Officer | 5,000 | $583K | 21.3% | No | Too little history (no open-market trades in 2024) |
| 2026-06-26 | Knudsen Jeannette L | Chief Legal Officer | 4,353 | $501K | 16.5% | No | Routine (sold in Mar each year 2023–2025; this trade is outside those months) |
| 2026-06-24 | Marshall Tucker H | Chief Financial Officer | 3,630 | $403K | 8.3% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-06-17 | Smucker Mark T | CEO, Chair of Board | 13,000 | $1.5M | 5.1% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-06-11 | Knudsen Jeannette L | Chief Legal Officer | 5,550 | $645K | 16.5% | No | Routine (sold in Mar each year 2023–2025; this trade is outside those months) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.32 on a 1–5 scale), 19 analysts; mean target USD 141.81 (low 120, high 160).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-16 | Barclays | Target lowered | Equal-Weight | $145 → $137 |
| 2026-10-15 | Bernstein | Target raised | Outperform | $157 → $160 |
| 2026-08-27 | Barclays | Target raised | Equal-Weight | $125 → $145 |
| 2026-08-27 | TD Cowen | Target raised | Hold | $123 → $136 |
| 2026-08-27 | Bernstein | Target raised | Outperform | $137 → $157 |
| 2026-08-27 | RBC Capital | Target raised | Outperform | $135 → $150 |
| 2026-08-27 | Wells Fargo | Target raised | Overweight | $129 → $144 |
| 2026-08-27 | Evercore ISI Group | Target raised | Outperform | $125 → $150 |
| 2026-08-20 | UBS | Target raised | Buy | $130 → $142 |
| 2026-08-19 | Jefferies | Target raised | Buy | $129 → $140 |
| 2026-08-19 | TD Cowen | Target raised | Hold | $120 → $123 |
| 2026-08-14 | JP Morgan | Target raised | Overweight | $125 → $139 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +35.4% | +29.0% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +35.5% | +5.2% |
| Volatility (annualized) | 28.6% | 24.1% |
| Max drawdown | -22.8% (Feb 2026→Apr 2026) | -37.2% (Jan 2023→Apr 2026) |

## Peers (Packaged Foods)
JBS (JBS N.V.) USD 12.37 -0.80% · MKC (McCormick & Company, Incorporat) USD 48.71 +5.16% · HRL (Hormel Foods Corporation) USD 21.36 +4.50% · MICC (The Magnum Ice Cream Company N.) USD 19.39 +2.32% · GIS (General Mills, Inc.) USD 35.18 +8.01% · DAR (Darling Ingredients Inc.) USD 55.64 -5.84%

## More
Full page: https://nexqual.com/SJM · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by business segment (quarter ended 2026-07-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| U.S. Retail Coffee | $807.8M | 36.4% | +12.6% |
| U.S. Retail Frozen Handheld and Spreads | $499.3M | 22.5% | +3.0% |
| U.S. Retail Pet Foods | $371.7M | 16.7% | +1.0% |
| Sweet Baked Snacks | $236.5M | 10.7% | -6.6% |
| Away From Home | $203.7M | 9.2% | +2.7% |
| Other | $100.3M | 4.5% | +9.1% |
| Total revenue | $2.22B | 100% | — |

## Revenue by product line (quarter ended 2026-07-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Coffee | $916.8M | 41.3% | +12.3% |
| Handheld Frozen Sandwiches | $273.4M | 12.3% | +12.0% |
| Sweet Baked Goods | $236.5M | 10.7% | -6.6% |
| Pet Snacks | $199.7M | 9.0% | -1.8% |
| Peanut Butter | $197.9M | 8.9% | -4.4% |
| Cat Food | $187.2M | 8.4% | +4.4% |
| Fruit Spreads | $93.1M | 4.2% | -2.3% |
| Portion Control | $53.5M | 2.4% | +6.2% |
| Toppings & Syrup | $25.6M | 1.2% | -13.8% |
| Other Product | $20.4M | 0.9% | +0.5% |
| Baking Mixesand Ingredients | $15.2M | 0.7% | +4.8% |
| Total revenue | $2.22B | 100% | — |

## Revenue by region (quarter ended 2026-07-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $2.11B | 95.0% | +4.9% |
| Total international | $110.6M | 5.0% | +6.4% |
| — Canada (part of Total international) | $69.9M | 3.1% | -1.1% |
| — All other international (part of Total international) | $40.7M | 1.8% | +22.6% |
| Total revenue | $2.22B | 100% | — |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-10-31) | $2.55 | $2.56 | -0.3% | $2.26B | 15 |
| Next quarter (ends 2027-01-31) | $2.54 | $2.55 | -0.3% | $2.26B | 14 |
| Current fiscal year (ends 2027-04-30) | $10.77 | $10.00 | +7.7% | $8.93B | 18 |
| Next fiscal year (ends 2028-04-30) | $9.21 | $8.94 | +3.1% | $9.04B | 7 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-12-18 (includes earnings 2026-11-24): ±9.9%; earnings reaction alone ±4.7%; last 8 reports averaged ±6.6%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 27.2% | ±6.5% |
| 2026-12-18 | 56 | 30.9% | ±9.9% |
| 2027-01-15 | 84 | 28.6% | ±11.1% |
| 2027-04-16 | 175 | 27.7% | ±15.3% |