Fiscal 2Q16 earnings report
On November 19, J.M. Smucker (SJM) will report its earnings for second quarter fiscal 2016. J.M. Smucker based in Orrville, Ohio. It manufactures and markets branded consumer food products, beverages, pet foods, and pet snacks worldwide. It’s part of the processed and packaged goods industry. Its peers in the industry are Hormel Foods (HRL), General Mills (GIS), and ConAgra Foods (CAG). Hormel will report its fourth quarter fiscal 2015 results on November 24. General Mills and ConAgra will report their second quarter fiscal 2016 results on December 15 and December 22, respectively.
Stock price performance
J.M. Smucker’s shares reacted positively to its first quarter fiscal 2016 results. The company reported an impressive performance. It rose by 6.5% and closed at $116.29 on August 27. The rise in the stock price broke the company’s recent trend. In July, the stock had been trading at $106.85–$113.49. The shares also fell by 3.7% on September 22 when the company made a secondary common stock offering announcement. Since the first quarter results, the stock has been following a rising trend. It has been trading at $113–$118.
Hormel, General Mills, and ConAgra closed at $66.43, $57.13, and $40.89, respectively, on November 12. The Guggenheim S&P Equal Weight Consumer Staples ETF (RHS) invests 2.6% of its portfolio in J.M. Smucker stock. It also invests 2.8%, 2.6%, and 2.5% in Hormel, General Mills, and ConAgra as of November 12. It closed at $110.24 on November 12. RHS’s YTD (year-to-date) return is 5.5%. J.M. Smucker’s YTD return is 12.2%.