J. M. Smucker (NYSE:SJM) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of J. M. Smucker (NYSE:SJM) from a hold rating to a sell rating in a report issued on Wednesday morning.

Several other research firms have also recently commented on SJM. Argus reduced their target price on shares of J. M. Smucker from $150.00 to $135.00 and set a buy rating for the company in a research note on Thursday, June 13th. Barclays lowered their price objective on J. M. Smucker from $132.00 to $123.00 and set an equal weight rating on the stock in a report on Monday, June 10th. Citigroup cut their target price on J. M. Smucker from $139.00 to $138.00 and set a buy rating for the company in a research note on Tuesday. DA Davidson decreased their price target on 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. Finally, TD Cowen cut their price objective on J. M. Smucker from $140.00 to $135.00 and set a buy rating for the company in a research report on Friday, June 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $132.57.

J. M. Smucker Stock Down 0.5 %

SJM opened at $120.98 on Wednesday. J. M. Smucker has a 52 week low of $105.69 and a 52 week high of $147.48. The business has a 50 day moving average price of $114.82 and a two-hundred day moving average price of $117.16. The company has a quick ratio of 0.25, a current ratio of 0.52 and a debt-to-equity ratio of 0.88. The company has a market cap of $12.85 billion, a PE ratio of 16.99, a P/E/G ratio of 2.38 and a beta of 0.25.

J. M. Smucker (NYSE:SJM) last released its earnings results on Thursday, June 6th. The company reported $2.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.34. J. M. Smucker had a return on equity of 14.15% and a net margin of 9.10%. The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the previous year, the company posted $2.64 earnings per share. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. As a group, research analysts anticipate that J. M. Smucker will post 10.05 EPS for the current year.

J. M. Smucker Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 16th will be given a $1.08 dividend. The ex-dividend date is Friday, August 16th. This is a positive change from J. M. Smucker’s previous quarterly dividend of $1.06. This represents a $4.32 annualized dividend and a dividend yield of 3.57%. J. M. Smucker’s payout ratio is currently 60.67%.

Insiders Place Their Bets

In other news, CEO Mark T. Smucker sold 10,000 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $110.16, for a total value of $1,101,600.00. Following the sale, the chief executive officer now directly owns 78,757 shares in the company, valued at $8,675,871.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On J. M. Smucker

A number of institutional investors have recently made changes to their positions in the stock. Wolverine Asset Management LLC increased its position in J. M. Smucker by 300.0% during the 4th quarter. Wolverine Asset Management LLC now owns 200 shares of the company’s stock worth $25,000 after purchasing an additional 150 shares in the last quarter. Advantage Trust Co acquired a new stake in shares of J. M. Smucker during the 4th quarter worth about $25,000. Studio Investment Management LLC purchased a new stake in shares of J. M. Smucker during the second quarter worth about $26,000. Cooksen Wealth LLC purchased a new stake in shares of J. M. Smucker during the fourth quarter worth about $33,000. Finally, Venturi Wealth Management LLC acquired a new position in shares of J. M. Smucker in the first quarter valued at approximately $35,000. 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.