J M Smucker (SJM) Raised to Hold at ValuEngine

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ValuEngine upgraded shares of J M Smucker (NYSE:SJM) from a sell rating to a hold rating in a research report sent to investors on Thursday.

A number of other analysts also recently issued reports on the company. Credit Suisse Group set a $95.00 price objective on J M Smucker and gave the stock a sell rating in a research note on Friday, September 21st. Wolfe Research downgraded J M Smucker from a peer perform rating to an underperform rating in a research note on Wednesday, September 26th. Zacks Investment Research raised J M Smucker from a sell rating to a hold rating in a research note on Tuesday, September 11th. Barclays reaffirmed a hold rating and issued a $103.00 price objective on shares of J M Smucker in a research note on Sunday, December 2nd. Finally, Bank of America reaffirmed a neutral rating and issued a $106.00 price objective on shares of J M Smucker in a research note on Wednesday, October 3rd. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. J M Smucker has an average rating of Hold and an average price target of $117.33.

Shares of SJM opened at $101.91 on Thursday. The company has a market cap of $11.59 billion, a P/E ratio of 12.80, a price-to-earnings-growth ratio of 2.14 and a beta of 0.38. J M Smucker has a 12-month low of $96.13 and a 12-month high of $133.38. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.57 and a current ratio of 1.25.

J M Smucker (NYSE:SJM) last issued its earnings results on Wednesday, November 28th. The company reported $2.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.29 by ($0.12). J M Smucker had a net margin of 17.59% and a return on equity of 12.03%. The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same period last year, the business posted $2.02 EPS. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, equities analysts expect that J M Smucker will post 7.99 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, December 3rd. Stockholders of record on Friday, November 16th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date was Thursday, November 15th. J M Smucker’s dividend payout ratio (DPR) is 42.71%.

In related news, Chairman Richard K. Smucker bought 20,000 shares of the company’s stock in a transaction dated Friday, November 30th. The stock was purchased at an average price of $103.09 per share, for a total transaction of $2,061,800.00. Following the acquisition, the chairman now owns 681,387 shares in the company, valued at $70,244,185.83. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 3.92% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in SJM. Schroder Investment Management Group boosted its holdings in shares of J M Smucker by 1,338.0% in the 2nd quarter. Schroder Investment Management Group now owns 639,900 shares of the company’s stock worth $69,781,000 after purchasing an additional 595,400 shares during the period. BlackRock Inc. boosted its holdings in shares of J M Smucker by 5.4% in the 2nd quarter. BlackRock Inc. now owns 9,452,323 shares of the company’s stock worth $1,015,934,000 after purchasing an additional 484,096 shares during the period. Renaissance Technologies LLC purchased a new position in shares of J M Smucker in the 2nd quarter worth approximately $51,752,000. Morgan Stanley boosted its holdings in shares of J M Smucker by 100.2% in the 3rd quarter. Morgan Stanley now owns 842,732 shares of the company’s stock worth $86,473,000 after purchasing an additional 421,792 shares during the period. Finally, Thompson Siegel & Walmsley LLC boosted its holdings in shares of J M Smucker by 88.0% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 700,106 shares of the company’s stock worth $75,248,000 after purchasing an additional 327,621 shares during the period. Hedge funds and other institutional investors own 79.33% of the company’s stock.

About J M Smucker

The J. M. Smucker Company manufactures and markets branded food and beverage products worldwide. It operates in four segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The company primarily offers coffee, pet food and pet snacks, peanut butter, fruit spreads, shortening and oils, baking mixes and ready-to-spread frostings, frozen sandwiches, flour and baking ingredients, juices and beverages, and portion control products.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for J M Smucker (NYSE:SJM)

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