Bank of America Cuts J. M. Smucker (NYSE:SJM) Price Target to $105.00

J. M. Smucker (NYSE:SJM) had its price target cut by research analysts at Bank of America from $118.00 to $105.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Bank of America‘s price target indicates a potential upside of 7.90% from the company’s previous close.

A number of other equities research analysts have also recently commented on the company. Morgan Stanley restated an “overweight” rating and set a $124.00 target price (up from $123.00) on shares of J. M. Smucker in a research report on Friday, June 6th. Barclays lowered their price target on J. M. Smucker from $123.00 to $119.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. Stifel Nicolaus set a $120.00 price objective on J. M. Smucker in a report on Tuesday. Citigroup reduced their target price on J. M. Smucker from $129.00 to $128.00 and set a “buy” rating for the company in a research note on Monday, May 19th. Finally, Wall Street Zen upgraded J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $117.55.

J. M. Smucker Trading Up 1.5%

J. M. Smucker stock opened at $97.31 on Wednesday. The firm has a market cap of $10.36 billion, a PE ratio of 19.70, a P/E/G ratio of 3.91 and a beta of 0.35. J. M. Smucker has a 12 month low of $93.93 and a 12 month high of $125.42. The stock’s 50 day simple moving average is $112.57 and its two-hundred day simple moving average is $110.88. The company has a current ratio of 0.58, a quick ratio of 0.27 and a debt-to-equity ratio of 0.89.

J. M. Smucker (NYSE:SJM) last announced its quarterly earnings results on Tuesday, June 10th. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.25 by $0.06. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.18 billion. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.35%. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.66 earnings per share. Analysts anticipate that J. M. Smucker will post 9.88 earnings per share for the current year.

Insider Transactions at J. M. Smucker

In related news, Director Tarang Amin acquired 1,050 shares of J. M. Smucker stock in a transaction that occurred on Thursday, June 12th. The shares were purchased at an average price of $96.09 per share, for a total transaction of $100,894.50. Following the completion of the transaction, the director now owns 3,825 shares in the company, valued at $367,544.25. This represents a 37.84% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jill R. Penrose sold 5,117 shares of the business’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $116.26, for a total value of $594,902.42. Following the transaction, the insider now directly owns 8,794 shares in the company, valued at $1,022,390.44. This trade represents a 36.78% decrease in their position. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Utah Retirement Systems increased its position in J. M. Smucker by 0.6% during the fourth quarter. Utah Retirement Systems now owns 17,146 shares of the company’s stock worth $1,888,000 after purchasing an additional 100 shares during the last quarter. Wallace Capital Management Inc. grew its stake in shares of J. M. Smucker by 4.9% in the 4th quarter. Wallace Capital Management Inc. now owns 2,135 shares of the company’s stock valued at $235,000 after buying an additional 100 shares during the period. Tortoise Investment Management LLC increased its holdings in shares of J. M. Smucker by 87.0% during the 1st quarter. Tortoise Investment Management LLC now owns 215 shares of the company’s stock worth $25,000 after buying an additional 100 shares during the last quarter. Forum Financial Management LP raised its position in shares of J. M. Smucker by 3.9% during the 1st quarter. Forum Financial Management LP now owns 3,113 shares of the company’s stock valued at $369,000 after buying an additional 116 shares during the period. Finally, Mendel Money Management lifted its holdings in J. M. Smucker by 3.1% in the fourth quarter. Mendel Money Management now owns 3,933 shares of the company’s stock valued at $433,000 after acquiring an additional 117 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

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.