J. M. Smucker (NYSE:SJM) Given New $121.00 Price Target at Barclays

J. M. Smucker (NYSE:SJM) had its price objective decreased by Barclays from $123.00 to $121.00 in a research note issued to investors on Friday, Benzinga reports. Barclays currently has an equal weight rating on the stock.

Other equities research analysts have also issued research reports about the stock. Citigroup decreased their price objective on shares of J. M. Smucker from $138.00 to $136.00 and set a buy rating on the stock in a report on Thursday. DA Davidson restated a neutral rating and issued a $121.00 price objective on shares of J. M. Smucker in a research report on Thursday. Bank of America lowered their target price on J. M. Smucker from $130.00 to $122.00 and set a neutral rating for the company in a research note on Thursday. TD Cowen dropped their price objective on J. M. Smucker from $135.00 to $132.00 and set a buy rating for the company in a report on Thursday. Finally, Argus reduced their target price on shares of J. M. Smucker from $150.00 to $135.00 and set a buy rating on the stock in a research note on Thursday, June 13th. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $129.31.

J. M. Smucker Stock Up 0.8 %

SJM opened at $114.68 on Friday. J. M. Smucker has a twelve month low of $105.69 and a twelve month high of $146.29. The firm has a market cap of $12.18 billion, a price-to-earnings ratio of 16.11, a PEG ratio of 2.42 and a beta of 0.25. The firm’s 50-day simple moving average is $116.04 and its 200-day simple moving average is $116.69. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.25 and a current ratio of 0.52.

J. M. Smucker (NYSE:SJM) last announced its earnings results on Wednesday, August 28th. The company reported $2.44 EPS for the quarter, topping the consensus estimate of $2.17 by $0.27. J. M. Smucker had a return on equity of 14.15% and a net margin of 9.10%. The business had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the business earned $2.21 EPS. J. M. Smucker’s revenue was up 17.7% compared to the same quarter last year. Equities research analysts anticipate that J. M. Smucker will post 10.05 EPS for the current fiscal year.

J. M. Smucker Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th will be paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.77%. This is an increase from J. M. Smucker’s previous quarterly dividend of $1.06. The ex-dividend date is Friday, August 16th. J. M. Smucker’s dividend payout ratio is currently 60.67%.

Insider Buying and Selling at J. M. Smucker

In other news, CEO Mark T. Smucker sold 10,000 shares of J. M. Smucker stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 78,757 shares of the company’s stock, valued at approximately $8,675,871.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. lifted its stake in shares of J. M. Smucker by 71.7% during the 4th quarter. Russell Investments Group Ltd. now owns 163,176 shares of the company’s stock worth $20,620,000 after buying an additional 68,160 shares during the last quarter. Retirement Systems of Alabama raised its position in shares of J. M. Smucker by 1.3% in the fourth quarter. Retirement Systems of Alabama now owns 23,390 shares of the company’s stock valued at $2,956,000 after buying an additional 302 shares in the last quarter. Van ECK Associates Corp grew its position in J. M. Smucker by 12.8% during the fourth quarter. Van ECK Associates Corp now owns 2,976 shares of the company’s stock worth $376,000 after buying an additional 337 shares in the last quarter. New York Life Investment Management LLC increased its stake in J. M. Smucker by 4.3% during the 4th quarter. New York Life Investment Management LLC now owns 17,217 shares of the company’s stock worth $2,176,000 after acquiring an additional 711 shares during the period. Finally, Great Valley Advisor Group Inc. bought a new stake in shares of J. M. Smucker during the 4th quarter valued at $1,322,000. 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.