Wells Fargo & Company Lowers J. M. Smucker (NYSE:SJM) Price Target to $130.00

J. M. Smucker (NYSE:SJM) had its price target cut by equities researchers at Wells Fargo & Company from $140.00 to $130.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 13.36% from the stock’s previous close.

Several other analysts have also commented on the company. Citigroup dropped their target price on J. M. Smucker from $139.00 to $138.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th. DA Davidson dropped their price objective on shares of J. M. Smucker from $132.00 to $126.00 and set a “neutral” rating on the stock in a research note on Monday, June 10th. Bank of America decreased their target price on shares of J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating for the company in a research note on Thursday. TD Cowen dropped their price target on shares of J. M. Smucker from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Friday, June 7th. Finally, Argus cut their price objective on shares of J. M. Smucker from $150.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, June 13th. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $129.31.

J. M. Smucker Stock Performance

Shares of NYSE SJM opened at $114.68 on Thursday. The company has a 50 day simple moving average of $116.04 and a two-hundred day simple moving average of $116.69. The stock has a market cap of $12.18 billion, a price-to-earnings ratio of 16.11, a PEG ratio of 2.42 and a beta of 0.25. The company has a current ratio of 0.52, a quick ratio of 0.25 and a debt-to-equity ratio of 0.88. J. M. Smucker has a 12 month low of $105.69 and a 12 month high of $146.29.

J. M. Smucker (NYSE:SJM) last posted its earnings results on Wednesday, August 28th. The company reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.17 by $0.27. J. M. Smucker had a net margin of 9.10% and a return on equity of 14.15%. The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the firm posted $2.21 earnings per share. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. As a group, analysts predict that J. M. Smucker will post 10.05 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Mark T. Smucker sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $110.16, for a total value of $1,101,600.00. Following the transaction, the chief executive officer now owns 78,757 shares in the company, valued at $8,675,871.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On J. M. Smucker

A number of hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC grew its stake in J. M. Smucker by 298.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 20,270 shares of the company’s stock valued at $2,562,000 after acquiring an additional 15,182 shares in the last quarter. California State Teachers Retirement System grew its position in shares of J. M. Smucker by 5.5% in the fourth quarter. California State Teachers Retirement System now owns 170,552 shares of the company’s stock valued at $21,554,000 after purchasing an additional 8,960 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of J. M. Smucker by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 13,471,395 shares of the company’s stock valued at $1,702,515,000 after purchasing an additional 518,433 shares during the last quarter. AMF Tjanstepension AB acquired a new stake in shares of J. M. Smucker in the first quarter valued at approximately $23,990,000. Finally, Cantor Fitzgerald Investment Advisors L.P. purchased a new position in J. M. Smucker during the fourth quarter worth approximately $14,198,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

About J. M. Smucker

The J. M. Smucker Company manufactures and markets branded food and beverage products worldwide. It operates in three segments: U.S. Retail Pet Foods, U.S. Retail Coffee, and U.S. Retail Consumer Foods. The company offers mainstream roast, ground, single serve, and premium coffee; peanut butter and specialty spreads; fruit spreads, toppings, and syrups; jelly products; nut mix products; shortening and oils; frozen sandwiches and snacks; pet food and pet snacks; and foodservice hot beverage, foodservice portion control, and flour products, as well as dog and cat food, frozen handheld products, juices and beverages, and baking mixes and ingredients.