J. M. Smucker (NYSE:SJM) Stock Rating Reaffirmed by DA Davidson

DA Davidson reissued their neutral rating on shares of J. M. Smucker (NYSE:SJM) in a research note published on Thursday morning, Benzinga reports. The firm currently has a $121.00 price target on the stock.

Other analysts have also issued research reports about the company. Citigroup reduced their target price on J. M. Smucker from $139.00 to $138.00 and set a buy rating for the company in a report on Tuesday, August 20th. TD Cowen reduced their target price on J. M. Smucker from $140.00 to $135.00 and set a buy rating for the company in a report on Friday, June 7th. StockNews.com upgraded J. M. Smucker from a sell rating to a hold rating in a report on Thursday. Bank of America reduced their target price on J. M. Smucker from $130.00 to $122.00 and set a neutral rating for the company in a report on Thursday. Finally, Wells Fargo & Company reduced their target price on J. M. Smucker from $140.00 to $130.00 and set an overweight rating for the company in a report on Thursday. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $127.25.

J. M. Smucker Price Performance

Shares of NYSE:SJM opened at $114.68 on Thursday. J. M. Smucker has a one year low of $105.69 and a one year high of $146.29. The stock has a fifty day moving average of $116.04 and a 200-day moving average of $116.55. The company has a market capitalization of $12.20 billion, a PE ratio of 16.11, a price-to-earnings-growth ratio of 2.32 and a beta of 0.25. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.25 and a current ratio of 0.55.

J. M. Smucker (NYSE:SJM) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.17 by $0.27. J. M. Smucker had a return on equity of 14.22% and a net margin of 8.77%. The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the firm earned $2.21 EPS. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. As a group, equities analysts anticipate that J. M. Smucker will post 9.84 EPS for the current fiscal year.

J. M. Smucker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th will be paid a $1.08 dividend. The ex-dividend date of this dividend is Friday, August 16th. This is an increase from J. M. Smucker’s previous quarterly dividend of $1.06. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.77%. J. M. Smucker’s dividend payout ratio is 60.67%.

Insider Transactions at J. M. Smucker

In other J. M. Smucker news, CEO Mark T. Smucker sold 10,000 shares of the stock in a transaction on Friday, June 21st. The shares were sold at an average price of $110.16, for a total transaction of $1,101,600.00. Following the transaction, the chief executive officer now directly owns 78,757 shares of the company’s stock, valued at $8,675,871.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On J. M. Smucker

Several hedge funds and other institutional investors have recently made changes to their positions in SJM. Advantage Trust Co bought a new stake in shares of J. M. Smucker in the fourth quarter valued at about $25,000. Studio Investment Management LLC bought a new position in J. M. Smucker during the second quarter worth about $26,000. Cooksen Wealth LLC bought a new position in J. M. Smucker during the fourth quarter worth about $33,000. Venturi Wealth Management LLC bought a new position in J. M. Smucker during the first quarter worth about $35,000. Finally, Quarry LP lifted its stake in J. M. Smucker by 212.6% during the second quarter. Quarry LP now owns 322 shares of the company’s stock worth $35,000 after purchasing an additional 219 shares during the period. 81.66% of the stock is 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.