Smuckers Co. Case Analysis

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Smuckers

Appendix

II. A) Mission Statement: "We have always defined success by more than financial performance. We believe how we do things is as important as what we do. Our purpose aims to further articulate why we are in business and the impact we aspire to have on society." Smucker’s basic beliefs are an expression of its values and principles which guide the company’s strategic behavior and direction.  These beliefs are tied to the company’s founder, Jerome Monroe Smucker, who sold a quality product at a fair price, and followed solid policies.  Therefore, the company prospered.  In this decade, Smucker’s continues to grow by adhering to the basic beliefs of quality, people, ethics, growth, and independence.  These time honored principles have provided a strong foundation throughout its history, and serve as the guideposts for all future strategies, plans and achievements.

Source: International Monetary Fund: Indices of Market Prices for Non-Fuel and Fuel Commodities, 2009-2011 Description: includes Cereal, Vegetable Oils, Meat, Seafood, Sugar, Bananas, and Oranges Appendix

Table 2
Table 2
J. M. Smucker’s Operations|
|
US Retail Coffee Market| Folgers, Millstone|
US Retail Consumer Market| Jif, Smucker's, Hungry Jack|
US Retail Oils & Baking Market| Crisco, Pillsbury, White Lily, Eagle Brand, Martha White| Special Markets| Knudsen beverages, Smucker's to US food service accounts, int. sales| Source: J. M. Smucker Company 2010

Table 3
Table 3
J.M. Smucker Co Industry Competitors
Company Name| Ticker| Market Value ($M)| EPS| Yield %| Beta| NESTLE S.A.| NSRGY| 188,989.74| 10.74| 3| 0.51|
UNILEVER NV| UN| 93,855.43| 2.09| 3.1| 0.81|
UNILEVER PLC| UL| 91,293.69| 2.09| 3.8| 0.77|
KRAFT FOODS INC.| KFT| 68,161.17| 1.83| 3| 0.55|
DANONE| DANOY| 38,494.67| 0.85| 2.2| 0.82|
GENERAL MILLS, INC.| GIS| 25,199.40| 2.35| 3.1| 0.19| KELLOGG CO.| K| 17,889.26| 3.38| 3.4| 0.45|
BRF - BRASIL FOODS S.A.| BRFS| 17,234.45| 1.12| 1.6| 1.39| HEINZ (H.J.) CO.| HNZ| 16,610.58| 2.96| 3.7| 0.56|
MEAD JOHNSON NUTRITION COMPANY| MJN| 15,102.48| 2.47| 1.4| 0.59| SARA LEE CORP.| SLE| 11,713.52| 0.86| 2.3| 0.87|
CONAGRA FOODS, INC.| CAG| 10,995.36| 1.72| 3.6| 0.67| GREEN MOUNTAIN COFFEE ROASTERS, INC.| GMCR| 9,732.63| 1.94|  | 0.82| CAMPBELL SOUP CO.| CPB| 10,094.05| 2.41| 3.6| 0.27|

HERSHEY COMPANY (THE)| HSY| 9,795.26| 2.74| 2.5| 0.28| SMUCKER (J.M.) CO.| SJM| 8,937.85| 4.03| 2.4| 0.66|
Source-S&P NetAdvantage, 2010
*S&P NetAdvantage, 2010

Appendix
Exhibit 1. Significant Cash Flows for J.M. Smucker Co.
Period Ended| | 30-Apr-10| 30-Apr-09|
Net Income| 494,138  | 265,953  |
 |
Operating Activities, Sources and Uses|
Depreciation| 181,882  | 118,273  |
Adjustments To Net Income| -5,674| 60,379  |
Changes In Accounts Receivables| 31,521  | -78,631|
Changes In Liabilities| 16,393  | 56,159  |
Changes In Inventories| -46,160| 34,669  |
Changes In Other Operating Activities| 41,378  | -9,809| Total Cash Flow From Operating Activities| 713,478  | 446,993  |  |
Investing Activities, Sources and Uses|
Capital Expenditures| -136,983| -108,907|
Investments| 13,519  | 3,013  |
Other Cash flows from Investing Activities| 19,021  | -71,087| Total Cash Flows From Investing Activities| -104,443| -176,981|  |
Financing Activities, Sources and Uses|
Dividends Paid| -166,224| -384,876|
Sale Purchase of Stock| 844  | -2,049|
Net Borrowings| -625,000| 400,000  |
Other Cash Flows from Financing Activities| 1,832  | -474| Total Cash Flows From Financing Activities| -788,548| 12,601  | Effect Of Exchange Rate Changes| 6,390  | 2,539  |
 |
Change In Cash and Cash Equivalents| -173,123| 285,152|
Source J. M. Smucker Company 2010 SEC Filings

Appendix
Exhibit...
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