Bank of America Cuts J. M. Smucker (NYSE:SJM) Price Target to $122.00

J. M. Smucker (NYSE:SJM) had its price target trimmed by Bank of America from $130.00 to $122.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

Several other equities analysts also recently commented on SJM. TD Cowen decreased their price objective on shares of J. M. Smucker from $140.00 to $135.00 and set a buy rating on the stock in a report on Friday, June 7th. Citigroup decreased their price target on shares of J. M. Smucker from $139.00 to $138.00 and set a buy rating on the stock in a research note on Tuesday, August 20th. Barclays cut their price objective on shares of J. M. Smucker from $132.00 to $123.00 and set an equal weight rating for the company in a research report on Monday, June 10th. Argus decreased their target price on J. M. Smucker from $150.00 to $135.00 and set a buy rating on the stock in a research report on Thursday, June 13th. Finally, DA Davidson dropped their price target on J. M. Smucker from $132.00 to $126.00 and set a neutral rating for the company in a report on Monday, June 10th. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, J. M. Smucker currently has a consensus rating of Hold and an average price target of $129.31.

J. M. Smucker Price Performance

Shares of SJM opened at $114.68 on Thursday. The company has a market cap of $12.18 billion, a price-to-earnings ratio of 16.11, a PEG ratio of 2.42 and a beta of 0.25. The company’s fifty day simple moving average is $116.04 and its 200 day simple moving average is $116.61. J. M. Smucker has a 1-year low of $105.69 and a 1-year high of $146.29. The company has a current ratio of 0.52, a quick ratio of 0.25 and a debt-to-equity ratio of 0.88.

J. M. Smucker (NYSE:SJM) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.27. The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.13 billion. J. M. Smucker had a return on equity of 14.15% and a net margin of 9.10%. J. M. Smucker’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the company posted $2.21 earnings per share. On average, research analysts forecast that J. M. Smucker will post 10.05 earnings per share for the current fiscal year.

J. M. Smucker Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th will be issued a $1.08 dividend. The ex-dividend date is Friday, August 16th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.77%. This is a boost from J. M. Smucker’s previous quarterly dividend of $1.06. J. M. Smucker’s dividend payout ratio is 60.67%.

Insider Buying and Selling

In other news, CEO Mark T. Smucker sold 10,000 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $110.16, for a total transaction of $1,101,600.00. Following the completion of the transaction, the chief executive officer now directly owns 78,757 shares in the company, valued at $8,675,871.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SJM. Sound View Wealth Advisors Group LLC increased its position in J. M. Smucker by 1.6% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 5,281 shares of the company’s stock valued at $667,000 after acquiring an additional 81 shares during the period. Tradition Wealth Management LLC raised its position in J. M. Smucker by 7.3% during the 4th quarter. Tradition Wealth Management LLC now owns 1,217 shares of the company’s stock worth $154,000 after purchasing an additional 83 shares during the last quarter. Czech National Bank raised its position in J. M. Smucker by 0.5% during the 1st quarter. Czech National Bank now owns 18,676 shares of the company’s stock worth $2,351,000 after purchasing an additional 88 shares during the last quarter. Resonant Capital Advisors LLC lifted its stake in shares of J. M. Smucker by 0.7% in the first quarter. Resonant Capital Advisors LLC now owns 14,328 shares of the company’s stock worth $1,803,000 after acquiring an additional 93 shares during the period. Finally, First National Trust Co boosted its stake in shares of J. M. Smucker by 4.9% in the 4th quarter. First National Trust Co now owns 2,110 shares of the company’s stock valued at $267,000 after purchasing an additional 99 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

J. M. Smucker Company Profile

The J. M. Smucker Company manufactures and markets branded food and beverage products worldwide. It operates in three segments: U.S. Retail Pet Foods, U.S. Retail Coffee, and U.S. Retail Consumer Foods. The company offers mainstream roast, ground, single serve, and premium coffee; peanut butter and specialty spreads; fruit spreads, toppings, and syrups; jelly products; nut mix products; shortening and oils; frozen sandwiches and snacks; pet food and pet snacks; and foodservice hot beverage, foodservice portion control, and flour products, as well as dog and cat food, frozen handheld products, juices and beverages, and baking mixes and ingredients.