SJM - Goldman Sachs Maintains Sell Rating On J.M. Smucker: Analyst Highlights Challenges Despite EPS Beat | Benzinga
Goldman Sachs analyst Jason English reiterated a Sell rating on J.M. Smucker Company (NYSE: SJM) with a price target of $131.
The company reported a second-quarter FY24 sales decline of 12% year-on-year to $1.94 billion, missing the analyst consensus of $1.95 billion. Adjusted EPS of $2.59 beat the consensus estimate of $2.47.
Better-than-expected price realization drove superior gross margins, which, along with lower distribution costs, drove higher operating margins.
The company reported an EPS beat in the quarter despite the absorption of ...