NEW YORK (TheStreet) -- Shares of The J.M. Smucker Co. (SJM) are slipping, down 3.53% to $100.41 in afternoon trading Wednesday, following the branded food products company's lowered full year outlook after seeing its Folgers coffee brand sales decline driven by consumers avoiding higher prices.
The Orville, OH-based company now expects sales to fall 1% for the full year, compared to its earlier forecast of a 3% to 4% growth.
J.M. Smucker also cut its earnings guidance to a range of $5.45 to $5.65 per share for the full year, from its earlier estimate of $5.95 to $6.05 per share.
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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 largely solid financial position with reasonable debt levels by most measures and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
Highlights from the analysis by TheStreet Ratings Team goes as follows: