J. M. Smucker (NYSE:SJM) Downgraded to Hold Rating by TD Cowen

TD Cowen cut shares of J. M. Smucker (NYSE:SJM) from a buy rating to a hold rating in a report issued on Wednesday, Marketbeat reports. TD Cowen currently has $121.00 price target on the stock, down from their prior price target of $130.00.

SJM has been the subject of a number of other research reports. Barclays cut their target price on shares of J. M. Smucker from $126.00 to $123.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 4th. Wells Fargo & Company raised their target price on J. M. Smucker from $130.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. StockNews.com raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a report on Monday, September 30th. Finally, Stifel Nicolaus downgraded J. M. Smucker from a “buy” rating to a “hold” rating and lowered their price target for the stock from $135.00 to $125.00 in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three 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 $127.33.

J. M. Smucker Stock Down 4.2 %

SJM stock opened at $101.02 on Wednesday. J. M. Smucker has a twelve month low of $100.77 and a twelve month high of $134.62. The firm has a market cap of $10.75 billion, a PE ratio of 20.45, a price-to-earnings-growth ratio of 3.46 and a beta of 0.28. The business has a 50 day moving average of $112.88 and a 200 day moving average of $115.70. 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 (NYSE:SJM) last issued its earnings results on Tuesday, November 26th. The company reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.25. The firm had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.27 billion. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.35%. The business’s revenue was up 17.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.59 earnings per share. On average, research analysts forecast that J. M. Smucker will post 9.89 EPS for the current fiscal year.

J. M. Smucker Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were given a $1.08 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $4.32 annualized dividend and a yield of 4.28%. J. M. Smucker’s dividend payout ratio is presently 87.45%.

Insider Buying and Selling

In related news, CFO Tucker H. Marshall sold 994 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $113.00, for a total value of $112,322.00. Following the completion of the transaction, the chief financial officer now directly owns 18,734 shares in the company, valued at approximately $2,116,942. This represents a 5.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 3.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. State Street Corp grew its position in shares of J. M. Smucker by 12.0% during the third quarter. State Street Corp now owns 7,111,023 shares of the company’s stock worth $861,145,000 after buying an additional 762,746 shares in the last quarter. FMR LLC lifted its stake in J. M. Smucker by 40.0% in the third quarter. FMR LLC now owns 3,353,996 shares of the company’s stock valued at $406,169,000 after buying an additional 958,142 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of J. M. Smucker by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,783,183 shares of the company’s stock worth $194,435,000 after acquiring an additional 135,158 shares during the last quarter. ProShare Advisors LLC increased its stake in J. M. Smucker by 14.4% in the second quarter. ProShare Advisors LLC now owns 1,526,074 shares of the company’s stock valued at $166,403,000 after purchasing an additional 192,075 shares during the period. Finally, Nordea Investment Management AB grew its holdings in shares of J. M. Smucker by 16.5% during the fourth quarter. Nordea Investment Management AB now owns 1,361,902 shares of the company’s stock worth $150,082,000 after buying an additional 192,748 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

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.