J. M. Smucker (NYSE:SJM) Earns “Neutral” Rating from DA Davidson

DA Davidson restated their neutral rating on shares of J. M. Smucker (NYSE:SJM) in a research report sent to investors on Thursday, Benzinga reports. They currently have a $121.00 price objective on the stock.

SJM has been the topic of a number of other reports. Wells Fargo & Company lowered their price target on shares of J. M. Smucker from $140.00 to $130.00 and set an overweight rating on the stock in a research report on Thursday. Citigroup lowered their target price on shares of J. M. Smucker from $139.00 to $138.00 and set a buy rating on the stock in a report on Tuesday, August 20th. TD Cowen cut their price target on J. M. Smucker from $140.00 to $135.00 and set a buy rating for the company in a research note on Friday, June 7th. Barclays reduced their price target on J. M. Smucker from $132.00 to $123.00 and set an equal weight rating on the stock in a research report on Monday, June 10th. Finally, Bank of America dropped their price objective on J. M. Smucker from $130.00 to $122.00 and set a neutral rating for the company in a report on Thursday. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $129.46.

J. M. Smucker Stock Down 0.8 %

J. M. Smucker stock opened at $113.79 on Thursday. The company’s 50-day moving average price is $115.92 and its two-hundred day moving average price is $116.80. The company has a quick ratio of 0.25, a current ratio of 0.52 and a debt-to-equity ratio of 0.88. The stock has a market cap of $12.08 billion, a P/E ratio of 15.98, a P/E/G ratio of 2.42 and a beta of 0.25. J. M. Smucker has a twelve month low of $105.69 and a twelve month high of $146.29.

J. M. Smucker (NYSE:SJM) last announced its earnings results on Wednesday, August 28th. The company reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.18 by $0.26. The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. J. M. Smucker had a return on equity of 14.15% and a net margin of 9.10%. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.21 earnings per share. As a group, analysts expect that J. M. Smucker will post 10.05 EPS for the current year.

J. M. Smucker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 16th will be issued a dividend of $1.08 per share. The ex-dividend date is Friday, August 16th. This is a positive change from J. M. Smucker’s previous quarterly dividend of $1.06. This represents a $4.32 annualized dividend and a dividend yield of 3.80%. J. M. Smucker’s payout ratio is 60.67%.

Insider Buying and Selling

In related news, CEO Mark T. Smucker sold 10,000 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $110.16, for a total transaction of $1,101,600.00. Following the sale, the chief executive officer now owns 78,757 shares in the company, valued at approximately $8,675,871.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Advantage Trust Co acquired a new position in shares of J. M. Smucker in the fourth quarter worth approximately $25,000. Studio Investment Management LLC bought a new position in J. M. Smucker during the second quarter worth $26,000. Cooksen Wealth LLC acquired a new position in J. M. Smucker in the fourth quarter valued at $33,000. Venturi Wealth Management LLC bought a new stake in J. M. Smucker during the first quarter valued at $35,000. Finally, Quarry LP raised its position in shares of J. M. Smucker by 212.6% in the 2nd quarter. Quarry LP now owns 322 shares of the company’s stock worth $35,000 after acquiring an additional 219 shares in the last quarter. 81.66% of the stock is 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.