J. M. Smucker (NYSE:SJM) Stock Rating Upgraded by Sanford C. Bernstein

J. M. Smucker (NYSE:SJM) was upgraded by equities research analysts at Sanford C. Bernstein from a “market perform” rating to an “outperform” rating in a research note issued on Wednesday,Benzinga reports. The firm currently has a $145.00 price target on the stock, up from their prior price target of $121.00. Sanford C. Bernstein’s target price indicates a potential upside of 33.48% from the company’s previous close.

SJM has been the subject of a number of other reports. Barclays lifted their price target on shares of J. M. Smucker from $105.00 to $125.00 and gave the company an “equal weight” rating in a research report on Monday, March 2nd. Weiss Ratings reiterated a “sell (d)” rating on shares of J. M. Smucker in a report on Wednesday, January 21st. JPMorgan Chase & Co. boosted their target price on J. M. Smucker from $121.00 to $122.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. Wells Fargo & Company raised their price target on J. M. Smucker from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. Finally, UBS Group dropped their price objective on 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. Nine equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $121.14.

J. M. Smucker Price Performance

J. M. Smucker stock opened at $108.63 on Wednesday. The company has a current ratio of 0.84, a quick ratio of 0.35 and a debt-to-equity ratio of 1.31. The company has a 50-day moving average price of $105.89 and a 200 day moving average price of $105.31. J. M. Smucker has a 12-month low of $93.30 and a 12-month high of $120.76. The stock has a market cap of $11.59 billion, a P/E ratio of -9.21, a PEG ratio of 4.54 and a beta of 0.22.

J. M. Smucker (NYSE:SJM) last posted its quarterly earnings results on Thursday, February 26th. The company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.11. The business had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.32 billion. J. M. Smucker had a negative net margin of 14.07% and a positive return on equity of 15.94%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.61 EPS. Sell-side analysts anticipate that J. M. Smucker will post 9.88 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SJM. UBS Group AG grew its stake in J. M. Smucker by 238.7% during the 4th quarter. UBS Group AG now owns 3,924,282 shares of the company’s stock worth $383,834,000 after purchasing an additional 2,765,559 shares in the last quarter. Two Sigma Investments LP raised its position in J. M. Smucker by 6,854.4% in the 3rd quarter. Two Sigma Investments LP now owns 1,527,962 shares of the company’s stock valued at $165,937,000 after purchasing an additional 1,505,991 shares in the last quarter. National Bank of Canada FI raised its position in J. M. Smucker by 797.4% in the 3rd quarter. National Bank of Canada FI now owns 1,401,173 shares of the company’s stock valued at $152,167,000 after purchasing an additional 1,245,035 shares in the last quarter. Norges Bank acquired a new position in shares of J. M. Smucker during the second quarter worth about $112,829,000. Finally, Engineers Gate Manager LP purchased a new stake in shares of J. M. Smucker during the second quarter worth approximately $109,896,000. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

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.