Bernstein Reiterates Market Perform Rating on J.M. Smucker (SJM)

Bernstein SocGen Group analyst Alexia Howard reiterated a Market Perform rating and $104.00 price target on J.M. Smucker (NYSE: SJM).

The analyst commented: "3Q:25 a mixed bag, but investors are now focused on the potential impact of coffee costs on FY26; Sales growth was a bit weaker this quarter with organic sales down -1% vs. +2% last quarter, but much of this seems to have been driven by the supply issues in Pet Food that are now behind us, and guidance implies a modest increase in organic sales growth next quarter.

In the quarter, we saw a slight top-line miss, but adjusted EPS beat due to strong margins and a lower tax rate. Revenues of $2,186.0m were -1.8% below consensus estimates, with an organic sales decline of -1.0% YoY (price +3% and volume/mix -5%), below consensus of 0.7%. This was a sequential slowdown from the 2% OSG seen last quarter, where price was up by 1% and volume/mix up by 2%.

We rate Smucker's Market-Perform and reiterate our TP of $104 based on lowering our 9.3x multiple to 9.1x due to ongoing uncertainty in the coffee commodity markets and adjusting our 12 - 24 month EBITDA forecast from $2,109m to $2,093m."

For an analyst ratings summary and ratings history on J.M. Smucker click here. For more ratings news on J.M. Smucker click here.

Shares of J.M. Smucker closed at $109.14 yesterday.

You May Also Be Interested In

• Bumble Inc. (BMBL) PT Lowered to $3.20 at Citi
• Northrop Grumman gets $158.8 million contract modification
• Reddit (RDDT) added to S&P 500