On-Track End to Fiscal 2017 Leaves Our Long-Term Outlook Intact for Smucker; Shares Fairly Valued
We plan a high-single-digit percentage increase for our $131 per share valuation for narrow-moat Smucker after it posted solid fourth-quarter earnings, reflecting our expectations for calendar 2018 U.S. corporate tax reform. For fiscal 2017, the firm reported $7.4 billion in sales and adjusted diluted EPS of $7.72, versus our respective targets of $7.4 billion and $7.63. Smucker announced fiscal 2018 guidance, projecting 1% comparable net sales growth and adjusted diluted EPS of $7.85-$8.05, ver...Smucker (J.M.) manufactures and markets food and beverage products. The company's principal products are coffee, dog food, pet snacks, cat food, peanut butter, fruit spreads, frozen handheld products, shortening and oils, portion control products, juices and beverages, and flour and baking ingredients. The company has four reportable segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, and U.S. Retail Pet Foods, and International and Away From Home. The U.S. retail market segments represent the sales of food and beverage products to consumers through retail outlets in North America. The International and Away From Home segment represents sales outside of the U.S. retail market segments.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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