Wells Fargo & Company Issues Positive Forecast for J. M. Smucker (NYSE:SJM) Stock Price

J. M. Smucker (NYSE:SJM) had its target price upped by Wells Fargo & Company from $130.00 to $135.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts have also recently issued reports on the company. DA Davidson restated a “neutral” rating and set a $121.00 price objective on shares of J. M. Smucker in a report on Thursday, August 29th. Barclays cut their target price on J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating on the stock in a research report on Friday, August 30th. Citigroup cut their price objective on J. M. Smucker from $138.00 to $136.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. StockNews.com raised J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Monday, September 30th. Finally, BNP Paribas raised J. M. Smucker to a “strong sell” rating in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $128.00.

J. M. Smucker Stock Performance

Shares of SJM stock opened at $117.79 on Wednesday. The company has a market cap of $12.54 billion, a price-to-earnings ratio of 23.89, a price-to-earnings-growth ratio of 3.29 and a beta of 0.25. The stock has a 50 day simple moving average of $116.34 and a 200-day simple moving average of $115.63. J. M. Smucker has a 12-month low of $105.69 and a 12-month high of $134.62. The company has a current ratio of 0.58, a quick ratio of 0.25 and a debt-to-equity ratio of 0.89.

J. M. Smucker (NYSE:SJM) last released its quarterly earnings results on Tuesday, November 26th. The company reported $2.76 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.27. The business had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.27 billion. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. The company’s revenue was up 17.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.59 EPS. On average, equities analysts forecast that J. M. Smucker will post 9.85 EPS for the current year.

J. M. Smucker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 3.67%. The ex-dividend date is Friday, November 15th. J. M. Smucker’s payout ratio is 87.45%.

Institutional Investors Weigh In On J. M. Smucker

Large investors have recently bought and sold shares of the business. Studio Investment Management LLC acquired a new position in J. M. Smucker during the 2nd quarter worth $26,000. Venturi Wealth Management LLC lifted its position in J. M. Smucker by 1,329.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 243 shares of the company’s stock worth $29,000 after acquiring an additional 226 shares during the last quarter. Quarry LP raised its position in shares of J. M. Smucker by 212.6% during the second quarter. Quarry LP now owns 322 shares of the company’s stock valued at $35,000 after buying an additional 219 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of J. M. Smucker during the third quarter valued at about $39,000. Finally, Eastern Bank acquired a new position in shares of J. M. Smucker during the third quarter valued at about $40,000. 81.66% of the stock is currently owned by 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.