Barclays Cuts J. M. Smucker (NYSE:SJM) Price Target to $123.00

J. M. Smucker (NYSE:SJM) had its price objective reduced by Barclays from $126.00 to $123.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities research analysts have also commented on SJM. TD Cowen decreased their price objective on shares of J. M. Smucker from $135.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. BNP Paribas raised J. M. Smucker to a “strong sell” rating in a research report on Thursday, August 29th. DA Davidson reissued a “neutral” rating and issued a $121.00 price objective on shares of J. M. Smucker in a research report on Thursday, August 29th. Bank of America decreased their target price on J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Finally, StockNews.com upgraded J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, J. M. Smucker currently has an average rating of “Hold” and an average price target of $128.56.

J. M. Smucker Stock Down 0.2 %

SJM stock opened at $116.46 on Wednesday. The firm has a market capitalization of $12.39 billion, a PE ratio of 23.57, a P/E/G ratio of 3.24 and a beta of 0.26. The company has a quick ratio of 0.27, a current ratio of 0.58 and a debt-to-equity ratio of 0.89. J. M. Smucker has a twelve month low of $105.69 and a twelve month high of $134.62. The stock’s 50 day moving average is $116.14 and its 200-day moving average is $115.71.

J. M. Smucker (NYSE:SJM) last issued its quarterly earnings data on Tuesday, November 26th. The company reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.25. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. The business had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same period last year, the business earned $2.59 EPS. The business’s revenue was up 17.2% on a year-over-year basis. Sell-side analysts expect that J. M. Smucker will post 9.9 EPS for the current fiscal year.

J. M. Smucker Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were given a dividend of $1.08 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $4.32 dividend on an annualized basis and a yield of 3.71%. J. M. Smucker’s dividend payout ratio is presently 87.45%.

Institutional Trading of J. M. Smucker

Several hedge funds and other institutional investors have recently modified their holdings of the business. Studio Investment Management LLC bought a new stake in J. M. Smucker during the 2nd quarter valued at $26,000. Venturi Wealth Management LLC grew its position in shares of J. M. Smucker by 1,329.4% in the third quarter. Venturi Wealth Management LLC now owns 243 shares of the company’s stock valued at $29,000 after purchasing an additional 226 shares in the last quarter. Quarry LP grew its position in shares of J. M. Smucker by 212.6% in the second quarter. Quarry LP now owns 322 shares of the company’s stock valued at $35,000 after purchasing an additional 219 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of J. M. Smucker during the 3rd quarter valued at $39,000. Finally, Eastern Bank purchased a new stake in J. M. Smucker during the 3rd quarter worth about $40,000. Institutional investors own 81.66% of the company’s stock.

J. M. Smucker Company Profile

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.