J. M. Smucker (NYSE:SJM) Price Target Raised to $122.00

J. M. Smucker (NYSE:SJM) had its price target upped by JPMorgan Chase & Co. from $121.00 to $122.00 in a research note published on Monday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also recently weighed in on the stock. Sanford C. Bernstein upped their price target on shares of J. M. Smucker from $110.00 to $113.00 and gave the stock a “market perform” rating in a report on Wednesday, November 26th. Morgan Stanley restated an “equal weight” rating and issued a $105.00 target price (down from $115.00) on shares of J. M. Smucker in a research note on Friday, January 16th. Canaccord Genuity Group upgraded J. M. Smucker to a “buy” rating in a research report on Friday, January 16th. TD Cowen upped their price objective on shares of J. M. Smucker from $105.00 to $112.00 and gave the stock a “hold” rating in a research report on Friday, February 20th. Finally, UBS Group cut their price target on shares of J. M. Smucker from $120.00 to $117.00 and set a “buy” rating for the company in a research note on Wednesday, November 26th. Eight analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, J. M. Smucker presently has a consensus rating of “Hold” and a consensus price target of $116.36.

J. M. Smucker Stock Down 2.6%

SJM stock opened at $106.49 on Monday. The stock has a 50-day simple moving average of $103.44 and a two-hundred day simple moving average of $105.32. J. M. Smucker has a twelve month low of $93.30 and a twelve month high of $121.48. The firm has a market capitalization of $11.36 billion, a PE ratio of -9.49, a PEG ratio of 6.68 and a beta of 0.23. The company has a quick ratio of 0.37, a current ratio of 0.89 and a debt-to-equity ratio of 1.16.

J. M. Smucker (NYSE:SJM) last announced its quarterly earnings results on Tuesday, November 25th. The company reported $2.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.12 by ($0.02). The firm had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.32 billion. J. M. Smucker had a positive return on equity of 15.26% and a negative net margin of 13.61%.The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.76 earnings per share. On average, equities analysts predict that J. M. Smucker will post 9.88 EPS for the current fiscal year.

J. M. Smucker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Friday, February 13th will be given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 4.1%. The ex-dividend date is Friday, February 13th. J. M. Smucker’s dividend payout ratio is presently -39.22%.

Institutional Investors Weigh In On J. M. Smucker

A number of hedge funds and other institutional investors have recently modified their holdings of SJM. Garton & Associates Financial Advisors LLC purchased a new position in J. M. Smucker in the 4th quarter worth approximately $25,000. AlphaQuest LLC bought a new position in shares of J. M. Smucker in the second quarter worth approximately $26,000. Bank of Jackson Hole Trust grew its holdings in shares of J. M. Smucker by 104.5% in the second quarter. Bank of Jackson Hole Trust now owns 274 shares of the company’s stock worth $27,000 after purchasing an additional 140 shares during the last quarter. CYBER HORNET ETFs LLC purchased a new position in shares of J. M. Smucker in the second quarter worth $27,000. Finally, Elevation Point Wealth Partners LLC bought a new stake in J. M. Smucker during the 2nd quarter valued at $28,000. Institutional investors own 81.66% of the company’s stock.

J. M. Smucker Company Profile

The J. M. Smucker Company is a diversified food and beverage manufacturer and marketer known for a portfolio of well-established consumer brands. The company’s main business activities include the production and distribution of fruit spreads, peanut butter, coffee and coffee filters, as well as pet food and pet snacks. Smucker’s core product lines serve both retail and foodservice customers through grocery chains, mass merchandisers, club stores, convenience outlets and e-commerce channels.

Among its leading brands are Smucker’s® fruit spreads, Jif® peanut butter, Folgers® and Dunkin’® coffees, and Café Bustelo® coffee.