Barclays Lowers J. M. Smucker (NYSE:SJM) Price Target to $123.00

J. M. Smucker (NYSE:SJMGet Free Report) had its price objective reduced by equities researchers at Barclays from $126.00 to $123.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective suggests a potential upside of 4.85% from the stock’s previous close.

Several other equities research analysts have also weighed in on the stock. StockNews.com upgraded shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Monday, September 30th. Stifel Nicolaus lowered shares of J. M. Smucker from a “buy” rating to a “hold” rating and dropped their price target for the company from $135.00 to $125.00 in a research note on Friday, October 25th. Citigroup dropped their price target on shares of J. M. Smucker from $138.00 to $136.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. TD Cowen dropped their price target 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. Finally, Bank of America dropped their price target 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 investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $127.73.

Read Our Latest Analysis on J. M. Smucker

J. M. Smucker Price Performance

SJM opened at $117.31 on Wednesday. The firm has a market cap of $12.48 billion, a price-to-earnings ratio of 23.75, a price-to-earnings-growth ratio of 3.37 and a beta of 0.26. J. M. Smucker has a fifty-two week low of $105.69 and a fifty-two week high of $134.62. The company’s 50-day moving average price is $116.35 and its 200 day moving average price is $115.69. The company has a quick ratio of 0.27, a current ratio of 0.58 and a debt-to-equity ratio of 0.89.

J. M. Smucker (NYSE:SJMGet Free Report) last released its quarterly earnings data on Tuesday, November 26th. The company reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.51 by $0.25. The firm had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.27 billion. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.35%. J. M. Smucker’s quarterly revenue was up 17.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.59 earnings per share. As a group, sell-side analysts expect that J. M. Smucker will post 9.88 earnings per share for the current year.

Hedge Funds Weigh In On J. M. Smucker

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SJM. FMR LLC boosted its stake in J. M. Smucker by 40.0% in the 3rd quarter. FMR LLC now owns 3,353,996 shares of the company’s stock worth $406,169,000 after purchasing an additional 958,142 shares during the period. State Street Corp boosted its stake in J. M. Smucker by 12.0% in the 3rd quarter. State Street Corp now owns 7,111,023 shares of the company’s stock worth $861,145,000 after purchasing an additional 762,746 shares during the period. Bank of Montreal Can boosted its stake in J. M. Smucker by 186.3% in the 2nd quarter. Bank of Montreal Can now owns 805,029 shares of the company’s stock worth $90,195,000 after purchasing an additional 523,803 shares during the period. Thrivent Financial for Lutherans boosted its stake in J. M. Smucker by 891.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 579,903 shares of the company’s stock worth $70,226,000 after purchasing an additional 521,404 shares during the period. Finally, Ariel Investments LLC lifted its position in J. M. Smucker by 56.0% in the 2nd quarter. Ariel Investments LLC now owns 1,354,999 shares of the company’s stock worth $147,749,000 after buying an additional 486,624 shares in the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

About J. M. Smucker

(Get Free Report)

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.

Further Reading

Analyst Recommendations for J. M. Smucker (NYSE:SJM)

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