Barclays Issues Pessimistic Forecast for J. M. Smucker (NYSE:SJM) Stock Price

J. M. Smucker (NYSE:SJM) had its target price cut by equities research analysts at Barclays from $119.00 to $105.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 11.35% from the stock’s current price.

SJM has been the subject of a number of other research reports. Morgan Stanley reaffirmed an “overweight” rating and set a $124.00 target price (up previously from $123.00) on shares of J. M. Smucker in a research report on Friday, June 6th. Jefferies Financial Group raised shares of J. M. Smucker from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $118.00 to $115.00 in a report on Wednesday. Wells Fargo & Company lowered their target price on shares of J. M. Smucker from $135.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday. Wall Street Zen raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Friday, March 28th. Finally, Bank of America decreased their price target on shares of J. M. Smucker from $118.00 to $105.00 and set a “neutral” rating for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $118.82.

J. M. Smucker Stock Down 0.1%

Shares of J. M. Smucker stock traded down $0.11 during midday trading on Wednesday, reaching $94.30. 1,788,305 shares of the company’s stock traded hands, compared to its average volume of 1,195,798. The company has a market cap of $10.03 billion, a price-to-earnings ratio of 19.09, a price-to-earnings-growth ratio of 3.91 and a beta of 0.35. J. M. Smucker has a 52 week low of $93.93 and a 52 week high of $125.42. The company’s 50 day simple moving average is $113.27 and its 200 day simple moving average is $111.09. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.27 and a current ratio of 0.58.

J. M. Smucker (NYSE:SJM) last posted its earnings results on Tuesday, June 10th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.25 by $0.06. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.18 billion. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. The business’s revenue was down 2.8% compared to the same quarter last year. During the same period last year, the company earned $2.66 earnings per share. Equities analysts expect that J. M. Smucker will post 9.88 earnings per share for the current fiscal year.

Insider Activity at J. M. Smucker

In other news, CFO Tucker H. Marshall sold 5,028 shares of J. M. Smucker stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $113.36, for a total transaction of $569,974.08. Following the sale, the chief financial officer now owns 13,263 shares of the company’s stock, valued at approximately $1,503,493.68. This trade represents a 27.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jill R. Penrose sold 5,117 shares of the business’s stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $116.26, for a total value of $594,902.42. Following the sale, the insider now owns 8,794 shares in the company, valued at approximately $1,022,390.44. This represents a 36.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of J. M. Smucker by 3.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 324,381 shares of the company’s stock worth $35,721,000 after acquiring an additional 11,339 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in J. M. Smucker by 2.1% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,340 shares of the company’s stock worth $1,249,000 after purchasing an additional 230 shares in the last quarter. Empowered Funds LLC raised its position in J. M. Smucker by 9.4% in the fourth quarter. Empowered Funds LLC now owns 10,103 shares of the company’s stock worth $1,113,000 after purchasing an additional 866 shares in the last quarter. Kestra Private Wealth Services LLC lifted its stake in J. M. Smucker by 7.9% during the fourth quarter. Kestra Private Wealth Services LLC now owns 25,708 shares of the company’s stock worth $2,831,000 after purchasing an additional 1,892 shares during the period. Finally, Kentucky Trust Co acquired a new stake in J. M. Smucker during the fourth quarter valued at approximately $28,000. 81.66% of the stock is owned by institutional investors.

About J. M. Smucker

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.