BofA Sees Steady Earnings Momentum Building at J.M. Smucker (SJM)

The J. M. Smucker Company (NYSE:SJM) is included among the 15 Best Blue-Chip Stocks with Growing Dividends.

On November 26, BofA lifted its price target on The J. M. Smucker Company (NYSE:SJM) to $120 from $118 while maintaining a Neutral rating. The update followed the company’s Q2 results, where adjusted EPS edged past BofA’s expectations. In response to this, the firm nudged up its longer-term outlook, raising its FY27 adjusted EPS estimates to $10 from $9.8 and its FY28 forecasts to $10.80 from $10.60. BofA pointed to management’s view that the momentum building in FY26 could translate into algorithm-level or better growth in FY27, opening the door to $10-plus of EPS next year.

In its fiscal Q2 2026 earnings update, The J. M. Smucker Company (NYSE:SJM) highlighted ongoing progress in its Sweet Baked Snacks business and the Hostess brand. Management noted improving performance in convenience stores, with volume share gains becoming more visible. While Sweet Baked Snacks are expected to be flat to slightly lower in Q3, the company sees growth returning in Q4. Pet treats are also projected to move back into growth, and Uncrustables remains on pace to surpass $1 billion in sales by the end of the year.

The company’s coffee segment posted a profit margin of 18.2% in Q2. Margins are expected to tick higher in Q3, though they are likely to stay below 20%, before moving above that level in Q4 as tariff-related pressures ease. Overall, net sales reached $2.3 billion for the quarter, up $58.9 million, or 3%, compared with the same period last year.

The J. M. Smucker Company (NYSE:SJM) is a leading American food and beverage company with a portfolio of well-known brands spanning coffee, consumer foods, and pet food.

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