JPMorgan Chase & Co. Cuts J. M. Smucker (NYSE:SJM) Price Target to $137.00

J. M. Smucker (NYSE:SJM) had its price objective lowered by JPMorgan Chase & Co. from $153.00 to $137.00 in a report issued on Tuesday morning, Marketbeat.com reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other research firms also recently weighed in on SJM. Bank of America raised their target price on shares of J. M. Smucker from $168.00 to $170.00 in a report on Wednesday, June 7th. StockNews.com started coverage on shares of J. M. Smucker in a report on Thursday, August 17th. They set a hold rating for the company. Barclays dropped their target price on shares of J. M. Smucker from $165.00 to $160.00 in a report on Thursday, June 8th. TheStreet downgraded shares of J. M. Smucker from an a- rating to a c+ rating in a report on Tuesday, June 6th. Finally, UBS Group decreased their price target on shares of J. M. Smucker from $159.00 to $157.00 in a research note on Wednesday, May 31st. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $149.93.

J. M. Smucker Stock Performance

Shares of SJM opened at $127.37 on Tuesday. The company has a 50-day simple moving average of $145.02 and a 200-day simple moving average of $149.74. The company has a quick ratio of 0.93, a current ratio of 1.28 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $13.01 billion, a PE ratio of -749.24, a P/E/G ratio of 2.42 and a beta of 0.23. J. M. Smucker has a 52-week low of $126.25 and a 52-week high of $163.07.

J. M. Smucker (NYSE:SJM) last announced its quarterly earnings results on Tuesday, August 29th. The company reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.19. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.84 billion. J. M. Smucker had a negative net margin of 0.21% and a positive return on equity of 12.96%. The business’s revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.67 EPS. Equities research analysts predict that J. M. Smucker will post 9.72 earnings per share for the current fiscal year.

J. M. Smucker Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 18th were given a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a yield of 3.33%. This is a boost from J. M. Smucker’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend was Thursday, August 17th. J. M. Smucker’s payout ratio is -2,494.12%.

Insider Buying and Selling at J. M. Smucker

In other J. M. Smucker news, CEO Mark T. Smucker sold 9,965 shares of J. M. Smucker stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $152.30, for a total transaction of $1,517,669.50. Following the transaction, the chief executive officer now directly owns 48,685 shares of the company’s stock, valued at $7,414,725.50. The sale was disclosed in a filing with the SEC, which is available at this link. In other J. M. Smucker news, CEO Mark T. Smucker sold 9,965 shares of J. M. Smucker stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $152.30, for a total transaction of $1,517,669.50. Following the transaction, the chief executive officer now directly owns 48,685 shares of the company’s stock, valued at $7,414,725.50. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Amy C. Held sold 9,917 shares of J. M. Smucker stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $143.80, for a total transaction of $1,426,064.60. Following the sale, the insider now owns 5,972 shares in the company, valued at approximately $858,773.60. The disclosure for this sale can be found here. Insiders have sold a total of 39,465 shares of company stock valued at $5,919,283 over the last ninety days. Corporate insiders own 3.50% of the company’s stock.

Institutional Trading of J. M. Smucker

A number of hedge funds have recently made changes to their positions in the company. Stokes Family Office LLC raised its stake in shares of J. M. Smucker by 2.5% during the first quarter. Stokes Family Office LLC now owns 2,622 shares of the company’s stock valued at $413,000 after purchasing an additional 65 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of J. M. Smucker by 0.4% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,078 shares of the company’s stock worth $2,845,000 after buying an additional 66 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in shares of J. M. Smucker by 0.3% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 20,510 shares of the company’s stock worth $3,228,000 after buying an additional 66 shares during the last quarter. Wambolt & Associates LLC increased its stake in shares of J. M. Smucker by 1.7% in the second quarter. Wambolt & Associates LLC now owns 4,009 shares of the company’s stock worth $592,000 after buying an additional 66 shares during the last quarter. Finally, Park National Corp OH increased its stake in shares of J. M. Smucker by 2.0% in the first quarter. Park National Corp OH now owns 3,456 shares of the company’s stock worth $544,000 after buying an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 79.08% 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.