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

J. M. Smucker (NYSE:SJM) 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.

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:SJM) 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

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.