NEW YORK (TheStreet) -- Shares of The J.M. Smucker Co. (SJM) are down by -1.75% to $101.64 in late-morning trading on Wednesday, after the company reported net income for the fiscal 2015 first quarter declined to $116 million, or $1.14 per share, compared to $126.6 million, or $1.19 per share for the year ago period.
The company, which manufacturers and markets branded food products, said net sales for the most recent quarter dropped 2% to $1.32 billion, from $1.35 billion for the fiscal 2014 first quarter.
However, J.M. Smucker posted an 11% rise in adjusted income per diluted share for the fiscal 2015 first quarter to $1.31 versus $1.21 from last year.
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Separately, TheStreet Ratings team rates SMUCKER (JM) CO as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:"We rate SMUCKER (JM) CO (SJM) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its expanding profit margins, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income." You can view the full analysis from the report here: SJM Ratings Report
SJM data by YCharts
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