Mixed 3Q Results Leave Outlook Intact for Smucker as Coffee Strength Offsets Pet Woes
We do not plan to materially alter our $133 fair value estimate after narrow-moat J.M. Smucker posted third-quarter results that put it near our full-year targets. In the fiscal year to date, Smucker saw a 0.6% sales slide against a 19.4% adjusted operating margin (versus 20.4% in the same period last year). Our full-year forecast calls for virtually flat sales and a 20% profitability mark (we include the on-track pending Wesson acquisition). Management expects fiscal 2018 adjusted diluted earni...
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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