Sector Update: Consumer Shares Mixed at Mid-Day – Dr. Pepper Snapple Declares 1st-Ever Quarterly Dividend

02:11 PM Eastern Standard Time, 11/20/2009 (MidnightTrader) — Dow Jones U.S. Consumer Services Index: -1.53 (-0.56%) at 270.17

Top Consumer Stocks

WMT: -0.83%

MCD: +0.82%

CVS: +1.22%

DIS: -0.93%

HD: -1.03%

Consumer shares are mixed in mid-day trading. Dr. Pepper Snapple Group (DPS) is higher after declaring a quarterly dividend, its first ever. J.M. Smucker (SJM) is higher after doubling its Q2 profit and raising its 2010 outlook as consumers hunker down and eat more often at home. Hibbett Sports (HIBB) is higher after announcing late on Thursday that it topped Q3 estimates.

Dr. Pepper Snapple Group declared a quarterly dividend of $0.15 a share, its first ever. The dividend will be paid on Jan. 8 to shareholders of record on Dec. 21. The board also authorized the repurchase of up to $200 million of the company’s common stock over the next three years.

J.M. Smucker doubled its fiscal Q2 profit and raised its 2010 outlook as consumers hunker down and eat more often at home. Q2 EPS rose to $1.18 from $0.94 as it reaped benefits form its acquisition of Folgers Coffee. Ex-merger and integration costs, EPS were $1.22.

Analysts’ consensus forecast called for $1.04, according to a Thomson Reuters poll. Revenue jumped to $1.28 billion from $843.1 million. Analysts were looking for $1.24 billion. Smucker lifted its FY EPS outlook to $3.95 to $4.05 ex-items. Its prior forecast was for EPS of $3.65 to $3.80. The company anticipates annual sales of about $4.5 billion. Analysts guide for $3.83 on revenue of $4.55 billion.

Hibbett Sports said late on Thursday Q3 EPS were $0.30, better than the Thomson Reuters estimate for $0.24. Sales were $145.9 million, better than estimates for $144.2 million. It raised its FY EPS outlook to $0.95 to $1.02 from $0.85 to $0.95.