J. M. Smucker (NYSE:SJM) Given New $118.00 Price Target at Citigroup

J. M. Smucker (NYSE:SJMGet Free Report) had its target price decreased by stock analysts at Citigroup from $128.00 to $118.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price would suggest a potential upside of 21.26% from the stock’s current price.

A number of other analysts have also recently commented on SJM. Wells Fargo & Company dropped 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. Jefferies Financial Group raised shares of J. M. Smucker from a “hold” rating to a “buy” rating and decreased their price target for the stock from $118.00 to $115.00 in a research note on Wednesday. Stifel Nicolaus set a $120.00 price objective on shares of J. M. Smucker in a research report on Tuesday. Morgan Stanley reissued an “overweight” rating and issued a $124.00 price objective (up previously from $123.00) on shares of J. M. Smucker in a research report on Friday, June 6th. Finally, DA Davidson decreased their target price on shares of J. M. Smucker from $122.00 to $120.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $117.55.

Check Out Our Latest Report on J. M. Smucker

J. M. Smucker Stock Up 1.5%

Shares of NYSE SJM opened at $97.31 on Wednesday. The firm’s 50-day moving average is $112.57 and its two-hundred day moving average is $110.88. The company has a market capitalization 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. J. M. Smucker has a 12-month low of $93.93 and a 12-month high of $125.42. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.58 and a quick ratio of 0.27.

J. M. Smucker (NYSE:SJMGet Free Report) last posted its earnings results on Tuesday, June 10th. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.25 by $0.06. The firm had revenue of $2.14 billion for 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%. J. M. Smucker’s revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.66 EPS. Equities analysts anticipate that J. M. Smucker will post 9.88 EPS for the current fiscal year.

Insider Activity

In related news, insider Jill R. Penrose sold 5,117 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 8,794 shares in the company, valued at approximately $1,022,390.44. This trade represents a 36.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Tarang Amin purchased 1,050 shares of J. M. Smucker stock in a transaction on Thursday, June 12th. The shares were acquired at an average cost 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 of the company’s stock, valued at $367,544.25. This represents a 37.84% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On J. M. Smucker

Several large investors have recently made changes to their positions in the business. Strs Ohio purchased a new stake in J. M. Smucker during the 1st quarter worth $2,243,000. Advisors Capital Management LLC boosted its position 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 worth $30,133,000 after buying an additional 17,539 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of J. M. Smucker by 14.9% in the first quarter. Geneos Wealth Management Inc. now owns 1,378 shares of the company’s stock worth $163,000 after buying an additional 179 shares during the period. Ransom Advisory Ltd acquired a new stake in shares of J. M. Smucker in the first quarter valued at about $47,000. Finally, Anchor Investment Management LLC raised its holdings in shares of J. M. Smucker by 3.7% during the 1st quarter. Anchor Investment Management LLC now owns 17,037 shares of the company’s stock valued at $2,017,000 after buying an additional 607 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

About J. M. Smucker

(Get Free Report)

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.

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Analyst Recommendations for J. M. Smucker (NYSE:SJM)

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