“We are updating our model to reflect 2Q results. Recall 2Q results missed expectations and the FY19 guidance was lowered (from an already lowered base). Although we have lower conviction in our positive thesis, we are maintaining our Buy rating as we believe the depressed valuation discounts most of our concerns and that some of the issues driving the negative earnings revisions are transitory.”,” the firm’s analyst wrote.
SJM has been the topic of a number of other reports. ValuEngine upgraded shares of J M Smucker from a sell rating to a hold rating in a research note on Monday, October 22nd. Credit Suisse Group set a $120.00 target price on shares of J M Smucker and gave the company a hold rating in a research note on Thursday, December 20th. Bank of America reiterated a neutral rating and issued a $106.00 target price on shares of J M Smucker in a research note on Wednesday, October 3rd. Barclays reiterated a hold rating and issued a $103.00 target price on shares of J M Smucker in a research note on Sunday, December 2nd. Finally, Zacks Investment Research lowered shares of J M Smucker from a hold rating to a sell rating in a research note on Wednesday, December 12th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. J M Smucker has a consensus rating of Hold and a consensus target price of $119.50.
J M Smucker (NYSE:SJM) last posted its earnings results on Wednesday, November 28th. The company reported $2.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the previous year, the business posted $2.02 earnings per share. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. Equities research analysts forecast that J M Smucker will post 8.03 earnings per share for the current fiscal year.
In related news, Director Timothy P. Smucker purchased 11,000 shares of the firm’s stock in a transaction on Wednesday, December 19th. The shares were bought at an average cost of $98.26 per share, for a total transaction of $1,080,860.00. Following the transaction, the director now directly owns 579,652 shares of the company’s stock, valued at approximately $56,956,605.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Richard K. Smucker purchased 20,000 shares of the firm’s stock in a transaction on Friday, November 30th. The stock was bought at an average price of $103.09 per share, for a total transaction of $2,061,800.00. Following the completion of the transaction, the chairman now directly owns 681,387 shares in the company, valued at $70,244,185.83. The disclosure for this purchase can be found here. Insiders acquired a total of 32,000 shares of company stock worth $3,234,860 over the last 90 days. Company insiders own 3.92% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of SJM. State of Alaska Department of Revenue lifted its holdings in J M Smucker by 6.4% during the 4th quarter. State of Alaska Department of Revenue now owns 28,330 shares of the company’s stock valued at $2,648,000 after purchasing an additional 1,692 shares during the last quarter. USS Investment Management Ltd acquired a new stake in J M Smucker in the 4th quarter valued at about $22,072,000. CenturyLink Investment Management Co acquired a new stake in J M Smucker in the 4th quarter valued at about $1,242,000. Private Trust Co. NA acquired a new stake in J M Smucker in the 4th quarter valued at about $234,000. Finally, Auxier Asset Management increased its position in J M Smucker by 1.2% in the 3rd quarter. Auxier Asset Management now owns 12,808 shares of the company’s stock valued at $1,314,000 after acquiring an additional 150 shares in the last quarter. Institutional investors own 79.30% 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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