StockNews.com Downgrades J. M. Smucker (NYSE:SJM) to Sell

StockNews.com cut shares of J. M. Smucker (NYSE:SJM) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

SJM has been the subject of several other research reports. Bank of America cut their price objective on J. M. Smucker from $130.00 to $122.00 and set a neutral rating for the company in a report on Thursday, August 29th. DA Davidson reaffirmed a neutral rating and issued a $121.00 price objective on shares of J. M. Smucker in a report on Thursday, August 29th. Wells Fargo & Company cut their price objective on J. M. Smucker from $140.00 to $130.00 and set an overweight rating for the company in a report on Thursday, August 29th. Citigroup cut their price objective on J. M. Smucker from $138.00 to $136.00 and set a buy rating for the company in a report on Thursday, August 29th. Finally, Argus cut their price objective on J. M. Smucker from $150.00 to $135.00 and set a buy rating for the company in a report on Thursday, June 13th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $127.25.

J. M. Smucker Stock Down 1.0 %

J. M. Smucker stock opened at $119.71 on Friday. The firm has a market cap of $12.74 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 3.13 and a beta of 0.24. The stock has a fifty day simple moving average of $118.19 and a two-hundred day simple moving average of $116.18. J. M. Smucker has a 12 month low of $105.69 and a 12 month high of $134.62. 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 (NYSE:SJM) last posted its 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. J. M. Smucker had a return on equity of 14.22% and a net margin of 8.77%. The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the company earned $2.21 EPS. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. Equities analysts predict that J. M. Smucker will post 9.82 EPS for the current fiscal year.

J. M. Smucker Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th were paid a $1.08 dividend. This is a positive change from J. M. Smucker’s previous quarterly dividend of $1.06. The ex-dividend date of this dividend was Friday, August 16th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.61%. J. M. Smucker’s dividend payout ratio is 60.67%.

Insider Transactions at J. M. Smucker

In other news, CEO Mark T. Smucker sold 10,000 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $110.16, for a total value of $1,101,600.00. Following the completion of the transaction, the chief executive officer now owns 78,757 shares of the company’s stock, valued at $8,675,871.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On J. M. Smucker

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Studio Investment Management LLC bought a new position in J. M. Smucker during the second quarter valued at approximately $26,000. Cooksen Wealth LLC bought a new position in J. M. Smucker during the fourth quarter valued at approximately $33,000. Quarry LP boosted its stake in J. M. Smucker by 212.6% during the second quarter. Quarry LP now owns 322 shares of the company’s stock valued at $35,000 after buying an additional 219 shares during the last quarter. Principal Securities Inc. bought a new position in J. M. Smucker during the fourth quarter valued at approximately $43,000. Finally, Rothschild Investment LLC bought a new position in J. M. Smucker during the second quarter valued at approximately $42,000. 81.66% of the stock is owned by institutional investors.

About J. M. Smucker

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.