J P Morgan Chase & Co downgraded shares of J.M. Smucker Company (The) (NYSE:SJM) from an overweight rating to a neutral rating in a research note released on Thursday. They currently have $116.00 price target on the stock, down from their previous price target of $135.00.
Several other equities analysts have also commented on SJM. Jefferies Group LLC restated a hold rating and issued a $130.00 price objective on shares of J.M. Smucker Company (The) in a report on Wednesday, April 26th. Zacks Investment Research lowered shares of J.M. Smucker Company (The) from a hold rating to a sell rating in a report on Monday, May 8th. Citigroup Inc. decreased their price objective on shares of J.M. Smucker Company (The) from $161.00 to $155.00 and set a buy rating on the stock in a report on Tuesday, May 9th. Credit Suisse Group restated a neutral rating and issued a $126.00 price objective (down from $138.00) on shares of J.M. Smucker Company (The) in a report on Friday, May 19th. Finally, Susquehanna Bancshares Inc reiterated a neutral rating and set a $128.00 target price (down from $132.00) on shares of J.M. Smucker Company (The) in a report on Wednesday, May 31st. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $126.73.
Shares of J.M. Smucker Company (NYSE:SJM) traded down 2.18% on Thursday, reaching $105.17. The company had a trading volume of 1,898,397 shares. The stock’s 50 day moving average is $119.46 and its 200 day moving average is $127.65. J.M. Smucker Company has a 52 week low of $105.05 and a 52 week high of $143.68. The firm has a market capitalization of $11.93 billion, a price-to-earnings ratio of 20.62 and a beta of 0.62.
J.M. Smucker Company (The) (NYSE:SJM) last issued its quarterly earnings data on Thursday, August 24th. The company reported $1.51 EPS for the quarter, missing the consensus estimate of $1.61 by $0.10. J.M. Smucker Company (The) had a return on equity of 12.63% and a net margin of 8.01%. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the prior year, the company posted $1.86 earnings per share. The business’s revenue was down 3.7% compared to the same quarter last year. On average, equities analysts anticipate that J.M. Smucker Company will post $7.86 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 11th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.90%. This is a positive change from J.M. Smucker Company (The)’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Wednesday, August 9th. J.M. Smucker Company (The)’s dividend payout ratio (DPR) is presently 61.18%.
In other news, insider Barry C. Dunaway sold 9,433 shares of the firm’s stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $121.32, for a total value of $1,144,411.56. Following the sale, the insider now directly owns 40,966 shares in the company, valued at approximately $4,969,995.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sandra Pianalto acquired 250 shares of J.M. Smucker Company (The) stock in a transaction dated Tuesday, June 27th. The stock was purchased at an average price of $120.61 per share, for a total transaction of $30,152.50. Following the completion of the acquisition, the director now directly owns 250 shares in the company, valued at approximately $30,152.50. The disclosure for this purchase can be found here. Insiders sold a total of 16,030 shares of company stock worth $1,948,195 over the last 90 days. Company insiders own 3.50% of the company’s stock.
Several large investors have recently made changes to their positions in SJM. Sun Life Financial INC raised its stake in shares of J.M. Smucker Company (The) by 10,512.5% in the second quarter. Sun Life Financial INC now owns 849 shares of the company’s stock worth $100,000 after buying an additional 841 shares during the last quarter. Harbour Capital Advisors LLC purchased a new stake in shares of J.M. Smucker Company (The) during the first quarter worth $126,000. Paradigm Asset Management Co. LLC raised its stake in shares of J.M. Smucker Company (The) by 4.5% in the second quarter. Paradigm Asset Management Co. LLC now owns 1,150 shares of the company’s stock worth $136,000 after buying an additional 50 shares during the last quarter. BT Investment Management Ltd purchased a new stake in shares of J.M. Smucker Company (The) during the second quarter worth $204,000. Finally, Allegis Investment Advisors LLC purchased a new stake in shares of J.M. Smucker Company (The) during the second quarter worth $205,000. Institutional investors and hedge funds own 75.09% of the company’s stock.
J.M. Smucker Company (The) Company Profile
The J. M. Smucker Company is a manufacturer and marketer of branded food and beverage products and pet food and pet snacks in North America. The Company’s segments include U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Foodservice. The Company’s U.S. retail market segments consist of the sale of branded food products to consumers through retail outlets in North America.
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