Barclays Lowers J. M. Smucker (NYSE:SJM) Price Target to $123.00

J. M. Smucker (NYSE:SJM) had its price target reduced by Barclays from $126.00 to $123.00 in a research report released on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other analysts have also commented on the stock. TD Cowen decreased their price target on shares of J. M. Smucker from $135.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Stifel Nicolaus lowered shares of J. M. Smucker from a “buy” rating to a “hold” rating and decreased their price target for the company from $135.00 to $125.00 in a research note on Friday, October 25th. Citigroup decreased their price target on shares of J. M. Smucker from $138.00 to $136.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. DA Davidson restated a “neutral” rating and set a $121.00 price target on shares of J. M. Smucker in a research note on Thursday, August 29th. Finally, Bank of America decreased their price target on shares of J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, J. M. Smucker presently has a consensus rating of “Hold” and an average price target of $127.73.

J. M. Smucker Stock Performance

NYSE:SJM opened at $115.44 on Wednesday. The company has a fifty day moving average of $116.35 and a 200-day moving average of $115.69. The firm has a market capitalization of $12.29 billion, a P/E ratio of 23.26, a P/E/G ratio of 3.37 and a beta of 0.26. The company has a quick ratio of 0.27, a current ratio of 0.58 and a debt-to-equity ratio of 0.89. J. M. Smucker has a twelve month low of $105.69 and a twelve month high of $134.62.

J. M. Smucker (NYSE:SJM) last released its quarterly earnings data on Tuesday, November 26th. The company reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.25. The company had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.27 billion. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.35%. J. M. Smucker’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.59 EPS. As a group, sell-side analysts anticipate that J. M. Smucker will post 9.88 EPS for the current year.

J. M. Smucker Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 15th were issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend was Friday, November 15th. J. M. Smucker’s dividend payout ratio (DPR) is currently 87.45%.

Hedge Funds Weigh In On J. M. Smucker

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Studio Investment Management LLC purchased a new position in shares of J. M. Smucker in the 2nd quarter worth about $26,000. Venturi Wealth Management LLC boosted its holdings in shares of J. M. Smucker by 1,329.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 243 shares of the company’s stock worth $29,000 after buying an additional 226 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of J. M. Smucker in the 3rd quarter worth about $39,000. Quarry LP raised its stake in J. M. Smucker by 212.6% in the 2nd quarter. Quarry LP now owns 322 shares of the company’s stock valued at $35,000 after acquiring an additional 219 shares during the period. Finally, Eastern Bank bought a new stake in J. M. Smucker in the 3rd quarter valued at about $40,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

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.