J M Smucker (NYSE:SJM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm currently has a $137.00 price objective on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 10.72% from the company’s current price.
According to Zacks, “Smucker has been solidifying its brand portfolio through innovation and key partnerships. In this regard, the company’s recently enhanced alliance with KGM yield significant results in third-quarter fiscal 2018, wherein the company crushed its trend of posting year-over-year decline in earnings. In fact, both the top and bottom line rose year over year and beat estimates — helping it surpass the industry in the past three months. While earnings were fueled by sales and benefits from tax reforms, revenues were backed by growth across most core brands and categories. We also commend Smucker’s cost-saving efforts, which should help it achieve savings of $100 million in fiscal 2018. These factors, along with expected gains from tax reforms led to raised earnings and free cash flow views. However, escalated freight expenses are likely to remain a challenge in fiscal 2018. This also compelled management to cut gross margin outlook.”
A number of other equities analysts also recently commented on the stock. Deutsche Bank boosted their target price on shares of J M Smucker from $130.00 to $134.00 and gave the stock a “hold” rating in a research note on Tuesday. Jefferies Group reiterated a “buy” rating and set a $135.00 target price on shares of J M Smucker in a research note on Friday. Susquehanna Bancshares set a $148.00 target price on shares of J M Smucker and gave the stock a “buy” rating in a research note on Monday, February 12th. Credit Suisse Group set a $120.00 target price on shares of J M Smucker and gave the stock a “hold” rating in a research note on Wednesday, January 10th. Finally, Wells Fargo & Co set a $128.00 target price on shares of J M Smucker and gave the stock a “hold” rating in a research note on Thursday, January 4th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $128.54.
Shares of J M Smucker (SJM) traded down $0.73 during mid-day trading on Tuesday, hitting $123.73. 138,901 shares of the company were exchanged, compared to its average volume of 1,113,248. The company has a current ratio of 1.48, a quick ratio of 0.64 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $14,138.36, a P/E ratio of 11.14, a P/E/G ratio of 2.01 and a beta of 0.65. J M Smucker has a 12-month low of $99.57 and a 12-month high of $143.68.
J M Smucker (NYSE:SJM) last issued its earnings results on Friday, February 16th. The company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.34. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. J M Smucker had a net margin of 17.16% and a return on equity of 12.46%. The company’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.00 earnings per share. equities analysts expect that J M Smucker will post 8.25 earnings per share for the current fiscal year.
In other J M Smucker news, insider David J. Lemmon sold 1,205 shares of the company’s stock in a transaction on Friday, December 29th. The shares were sold at an average price of $124.54, for a total value of $150,070.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jeannette L. Knudsen sold 1,600 shares of the company’s stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $124.36, for a total transaction of $198,976.00. Following the completion of the transaction, the senior vice president now owns 23,452 shares of the company’s stock, valued at approximately $2,916,490.72. The disclosure for this sale can be found here. Insiders sold 5,610 shares of company stock valued at $698,093 in the last 90 days. 3.50% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the company. Flagship Harbor Advisors LLC purchased a new stake in shares of J M Smucker in the third quarter valued at about $201,000. Toronto Dominion Bank raised its holdings in shares of J M Smucker by 9.5% in the third quarter. Toronto Dominion Bank now owns 43,226 shares of the company’s stock valued at $4,535,000 after buying an additional 3,766 shares during the last quarter. Northern Oak Wealth Management Inc. raised its holdings in shares of J M Smucker by 98.4% in the third quarter. Northern Oak Wealth Management Inc. now owns 51,554 shares of the company’s stock valued at $5,410,000 after buying an additional 25,571 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of J M Smucker by 2.1% in the third quarter. Schwab Charles Investment Management Inc. now owns 407,057 shares of the company’s stock valued at $42,713,000 after buying an additional 8,475 shares during the last quarter. Finally, Sheets Smith Wealth Management raised its holdings in shares of J M Smucker by 35.9% in the fourth quarter. Sheets Smith Wealth Management now owns 17,018 shares of the company’s stock valued at $2,114,000 after buying an additional 4,500 shares during the last quarter. 75.62% of the stock is owned by institutional investors and hedge funds.
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About J M Smucker
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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