Morgan Stanley Increases J. M. Smucker (NYSE:SJM) Price Target to $130.00

J. M. Smucker (NYSE:SJM) had its target price upped by Morgan Stanley from $125.00 to $130.00 in a research report sent to investors on Tuesday, The Fly reports. They currently have an underweight rating on the stock.

Other analysts have also issued reports about the stock. Stifel Nicolaus upped their price objective on shares of J. M. Smucker from $125.00 to $136.00 and gave the company a hold rating in a research note on Wednesday, November 24th. Citigroup lifted their price objective on shares of J. M. Smucker from $132.00 to $138.00 and gave the stock a neutral rating in a research report on Wednesday, November 24th. Barclays boosted their target price on shares of J. M. Smucker from $130.00 to $140.00 and gave the company an equal weight rating in a research note on Wednesday, November 24th. Zacks Investment Research raised shares of J. M. Smucker from a hold rating to a buy rating and set a $137.00 target price on the stock in a research note on Tuesday, November 30th. Finally, Credit Suisse Group boosted their target price on shares of J. M. Smucker from $125.00 to $130.00 and gave the company a neutral rating in a research note on Wednesday, November 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $134.91.

Shares of NYSE SJM opened at $145.15 on Tuesday. The company has a market cap of $15.73 billion, a PE ratio of 20.77 and a beta of 0.34. The stock has a 50 day simple moving average of $133.09 and a 200-day simple moving average of $128.39. J. M. Smucker has a 12-month low of $111.59 and a 12-month high of $145.49. The company has a current ratio of 1.06, a quick ratio of 0.48 and a debt-to-equity ratio of 0.52.

J. M. Smucker (NYSE:SJM) last posted its quarterly earnings results on Tuesday, November 23rd. The company reported $2.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.04 by $0.39. J. M. Smucker had a net margin of 9.72% and a return on equity of 11.60%. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the previous year, the business posted $2.39 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year. Sell-side analysts forecast that J. M. Smucker will post 8.6 earnings per share for the current fiscal year.

J. M. Smucker declared that its board has initiated a stock buyback program on Friday, October 22nd that allows the company to repurchase 5,000,000 shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 1st. Investors of record on Friday, November 12th were given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 2.73%. The ex-dividend date was Wednesday, November 10th. J. M. Smucker’s dividend payout ratio (DPR) is presently 56.65%.

In other news, insider Geoff E. Tanner sold 10,039 shares of the stock in a transaction on Friday, December 17th. The stock was sold at an average price of $138.23, for a total transaction of $1,387,690.97. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Tucker H. Marshall sold 10,000 shares of the stock in a transaction on Friday, December 17th. The stock was sold at an average price of $138.97, for a total value of $1,389,700.00. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of SJM. Belpointe Asset Management LLC lifted its stake in shares of J. M. Smucker by 30.1% during the second quarter. Belpointe Asset Management LLC now owns 1,310 shares of the company’s stock valued at $170,000 after acquiring an additional 303 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of J. M. Smucker by 8.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 20,244 shares of the company’s stock valued at $2,623,000 after acquiring an additional 1,532 shares during the period. WINTON GROUP Ltd acquired a new position in shares of J. M. Smucker during the second quarter valued at $1,119,000. Rockefeller Capital Management L.P. lifted its stake in J. M. Smucker by 115.0% in the second quarter. Rockefeller Capital Management L.P. now owns 11,881 shares of the company’s stock valued at $1,538,000 after buying an additional 6,356 shares during the period. Finally, Citigroup Inc. lifted its stake in J. M. Smucker by 40.9% in the second quarter. Citigroup Inc. now owns 166,012 shares of the company’s stock valued at $21,512,000 after buying an additional 48,207 shares during the period. 83.30% of the stock is currently owned by institutional investors and hedge funds.

J. M. Smucker Company Profile

The J. M. Smucker Co engages in the manufacture and marketing of food and beverage products. It operates through the following segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The U. S. Retail Coffee segment includes domestic sales of Folgers, Dunkin’ Donuts, and CafĂ© Bustelo branded coffee.

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