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

TD Cowen downgraded shares of J. M. Smucker (NYSE:SJMFree Report) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning, Marketbeat reports. TD Cowen currently has $121.00 target price on the stock, down from their prior target price of $130.00.

A number of other research firms also recently commented on SJM. Wells Fargo & Company increased their price objective on J. M. Smucker from $130.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Barclays decreased their price target on J. M. Smucker from $126.00 to $123.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 4th. Stifel Nicolaus lowered J. M. Smucker from a “buy” rating to a “hold” rating and decreased their price objective for the company from $135.00 to $125.00 in a research report on Friday, October 25th. Finally, StockNews.com upgraded J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, J. M. Smucker has a consensus rating of “Hold” and an average price target of $127.33.

Check Out Our Latest Stock Report on J. M. Smucker

J. M. Smucker Stock Performance

NYSE:SJM opened at $105.36 on Wednesday. The company has a market capitalization of $11.21 billion, a P/E ratio of 21.33, a price-to-earnings-growth ratio of 3.46 and a beta of 0.28. J. M. Smucker has a twelve month low of $104.27 and a twelve month high of $134.62. The company has a current ratio of 0.58, a quick ratio of 0.27 and a debt-to-equity ratio of 0.89. The firm has a 50-day moving average price of $113.04 and a two-hundred day moving average price of $115.77.

J. M. Smucker (NYSE:SJMGet Free Report) last posted its earnings results on Tuesday, November 26th. The company reported $2.76 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.25. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.35%. The business had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same period in the previous year, the company posted $2.59 earnings per share. The business’s revenue for the quarter was up 17.2% compared to the same quarter last year. As a group, research analysts expect that J. M. Smucker will post 9.89 earnings per share for the current fiscal year.

J. M. Smucker Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were issued a dividend of $1.08 per share. The ex-dividend date was Friday, November 15th. This represents a $4.32 dividend on an annualized basis and a yield of 4.10%. J. M. Smucker’s dividend payout ratio is presently 87.45%.

Insider Buying and Selling

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

Hedge Funds Weigh In On J. M. Smucker

Large investors have recently made changes to their positions in the business. Studio Investment Management LLC acquired a new stake in J. M. Smucker during the 2nd quarter worth about $26,000. Venturi Wealth Management LLC raised its position in shares of J. M. Smucker by 1,329.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 243 shares of the company’s stock valued at $29,000 after buying an additional 226 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in J. M. Smucker in the 3rd quarter valued at approximately $39,000. Quarry LP grew its stake in shares of J. M. Smucker by 212.6% in the second 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. Finally, Eastern Bank acquired a new position in shares of J. M. Smucker in the third quarter worth $40,000. 81.66% of the stock is owned by institutional investors and hedge funds.

About J. M. Smucker

(Get Free Report)

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.

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Analyst Recommendations for J. M. Smucker (NYSE:SJM)

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