J. M. Smucker (NYSE:SJM) Given New $135.00 Price Target at Wells Fargo & Company

J. M. Smucker (NYSE:SJM) had its target price lifted by Wells Fargo & Company from $130.00 to $135.00 in a research note published on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other research firms also recently weighed in on SJM. BNP Paribas upgraded shares of J. M. Smucker to a “strong sell” rating in a research report on Thursday, August 29th. Barclays decreased their price objective on shares of J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating on the stock in a research note on Friday, August 30th. TD Cowen decreased their price objective on shares of J. M. Smucker from $135.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Stifel Nicolaus cut shares of J. M. Smucker from a “buy” rating to a “hold” rating and decreased their price objective for the company from $135.00 to $125.00 in a research note on Friday, October 25th. Finally, Bank of America decreased their price objective on shares of J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $127.55.

J. M. Smucker Stock Down 1.8 %

NYSE SJM opened at $117.97 on Wednesday. The company has a current ratio of 0.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.87. J. M. Smucker has a 1-year low of $105.69 and a 1-year high of $134.62. The company has a 50 day moving average of $116.43 and a 200-day moving average of $115.59. The company has a market cap of $12.55 billion, a price-to-earnings ratio of 16.69, a PEG ratio of 3.19 and a beta of 0.25.

J. M. Smucker (NYSE:SJM) last released its quarterly earnings results on Tuesday, November 26th. The company reported $2.76 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.27. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. The company had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the previous year, the business earned $2.59 earnings per share. The firm’s quarterly revenue was up 17.2% on a year-over-year basis. On average, equities research analysts expect that J. M. Smucker will post 9.79 earnings per share for the current fiscal year.

J. M. Smucker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be issued a dividend of $1.08 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.66%. J. M. Smucker’s dividend payout ratio (DPR) is presently 61.10%.

Hedge Funds Weigh In On J. M. Smucker

A number of hedge funds have recently modified their holdings of the business. Tidal Investments LLC lifted its holdings in shares of J. M. Smucker by 1.3% during the third quarter. Tidal Investments LLC now owns 15,038 shares of the company’s stock worth $1,821,000 after purchasing an additional 190 shares during the period. Wilmington Savings Fund Society FSB bought a new position in J. M. Smucker during the 3rd quarter worth approximately $682,000. Soltis Investment Advisors LLC bought a new position in J. M. Smucker during the 3rd quarter worth approximately $202,000. TD Private Client Wealth LLC lifted its position in shares of J. M. Smucker by 9.7% in the 3rd quarter. TD Private Client Wealth LLC now owns 3,768 shares of the company’s stock worth $456,000 after purchasing an additional 334 shares during the period. Finally, Coldstream Capital Management Inc. boosted its stake in shares of J. M. Smucker by 13.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 19,503 shares of the company’s stock valued at $2,357,000 after purchasing an additional 2,303 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.