Barclays Issues Pessimistic Forecast for J. M. Smucker (NYSE:SJM) Stock Price

J. M. Smucker (NYSE:SJM) had its target price cut by analysts at Barclays from $119.00 to $105.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price objective suggests a potential upside of 7.90% from the company’s current price.

Several other research firms have also recently weighed in on SJM. Wells Fargo & Company cut their price objective on J. M. Smucker from $135.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday. Bank of America dropped their price target on J. M. Smucker from $118.00 to $105.00 and set a “neutral” rating on the stock in a research report on Wednesday. DA Davidson reduced their price objective on J. M. Smucker from $122.00 to $120.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Jefferies Financial Group upgraded shares of J. M. Smucker from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $118.00 to $115.00 in a research note on Wednesday. Finally, Wall Street Zen raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Friday, March 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $117.55.

J. M. Smucker Stock Performance

SJM opened at $97.31 on Wednesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.27 and a current ratio of 0.58. The company has a market cap of $10.36 billion, a PE ratio of 19.70, a price-to-earnings-growth ratio of 3.91 and a beta of 0.35. The stock has a 50-day moving average of $112.57 and a 200-day moving average of $110.88. J. M. Smucker has a 52-week low of $93.93 and a 52-week high of $125.42.

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

Insider Activity

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

Institutional Investors Weigh In On J. M. Smucker

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio acquired a new position in shares of J. M. Smucker during the first quarter worth approximately $2,243,000. Advisors Capital Management LLC increased its holdings in shares of J. M. Smucker by 7.4% in the first quarter. Advisors Capital Management LLC now owns 254,483 shares of the company’s stock valued at $30,133,000 after purchasing an additional 17,539 shares in the last quarter. Geneos Wealth Management Inc. raised its position in J. M. Smucker by 14.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,378 shares of the company’s stock worth $163,000 after purchasing an additional 179 shares during the last quarter. Ransom Advisory Ltd bought a new position in J. M. Smucker in the 1st quarter worth approximately $47,000. Finally, Anchor Investment Management LLC lifted its holdings in J. M. Smucker by 3.7% during the 1st quarter. Anchor Investment Management LLC now owns 17,037 shares of the company’s stock worth $2,017,000 after buying an additional 607 shares in 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.