J.M. Smucker Company (The) (SJM) Upgraded to “Hold” by Zacks Investment Research
Zacks Investment Research upgraded shares of J.M. Smucker Company (The) (NYSE:SJM) from a sell rating to a hold rating in a research report sent to investors on Thursday morning.
According to Zacks, “Smucker’s shares have underperformed the industry on a year-to-date basis, due to unfavorable coffee volumes. Smucker also posted disappointing first-quarter fiscal 2018 results and slashed its earnings guidance for fiscal 2018. Both earnings and sales declined on a year over year basis due to lower coffee volumes, planned increases in commodity costs and higher marketing expense. In fact, the quarter marked the fifth straight quarter of sales decline in its coffee business. Heightened competition in the pet food business also remains a cause of concern. Nevertheless, the company has resorted to cost cuts amid the tough industry conditions to uplift its performance. Strong organic sales growth, product innovation and improving its position in the mainstream dog food category is driving volumes and is expected to drive profits.”
A number of other equities research analysts have also recently commented on the company. BidaskClub cut J.M. Smucker Company (The) from a sell rating to a strong sell rating in a research note on Saturday, August 26th. Citigroup Inc. decreased their price objective on J.M. Smucker Company (The) from $155.00 to $133.00 and set a buy rating for the company in a research note on Friday, August 25th. Morgan Stanley reaffirmed a sell rating and set a $108.00 price objective (down from $114.00) on shares of J.M. Smucker Company (The) in a research note on Friday, August 25th. Credit Suisse Group set a $110.00 price objective on J.M. Smucker Company (The) and gave the stock a hold rating in a research note on Friday, August 25th. Finally, J P Morgan Chase & Co cut J.M. Smucker Company (The) from an overweight rating to a neutral rating and decreased their price objective for the stock from $135.00 to $116.00 in a research note on Thursday, August 24th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $126.73.
Shares of J.M. Smucker Company (NYSE SJM) traded up 1.38% during midday trading on Thursday, hitting $109.99. The stock had a trading volume of 1,049,426 shares. The firm’s 50-day moving average price is $115.08 and its 200-day moving average price is $124.36. The firm has a market capitalization of $12.49 billion, a PE ratio of 23.10 and a beta of 0.62. J.M. Smucker Company has a one year low of $103.50 and a one year high of $143.68.
J.M. Smucker Company (The) (NYSE:SJM) last released its earnings results on Thursday, August 24th. The company reported $1.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.61 by ($0.10). The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.81 billion. J.M. Smucker Company (The) had a net margin of 7.50% and a return on equity of 12.06%. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period last year, the business posted $1.86 earnings per share. On average, equities analysts predict that J.M. Smucker Company will post $7.74 EPS for the current year.
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The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 11th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.88%. This is a boost from J.M. Smucker Company (The)’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Wednesday, August 9th. J.M. Smucker Company (The)’s payout ratio is presently 65.55%.
In other J.M. Smucker Company (The) news, Director Gary A. Oatey bought 1,000 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was purchased at an average cost of $107.30 per share, with a total value of $107,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven Oakland sold 6,047 shares of the business’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $122.00, for a total value of $737,734.00. Following the completion of the transaction, the insider now directly owns 47,667 shares of the company’s stock, valued at $5,815,374. The disclosure for this sale can be found here. Over the last three months, insiders acquired 11,250 shares of company stock valued at $1,191,453 and sold 16,030 shares valued at $1,948,195. 3.50% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the business. Aviva PLC grew its stake in J.M. Smucker Company (The) by 1.3% in the second quarter. Aviva PLC now owns 70,815 shares of the company’s stock valued at $8,380,000 after acquiring an additional 910 shares during the period. Smith Salley & Associates grew its stake in J.M. Smucker Company (The) by 14.9% in the first quarter. Smith Salley & Associates now owns 1,992 shares of the company’s stock valued at $261,000 after acquiring an additional 259 shares during the period. Bank of Nova Scotia grew its stake in J.M. Smucker Company (The) by 2,819.9% in the first quarter. Bank of Nova Scotia now owns 76,619 shares of the company’s stock valued at $10,044,000 after acquiring an additional 73,995 shares during the period. BNP Paribas Arbitrage SA grew its stake in J.M. Smucker Company (The) by 264.9% in the first quarter. BNP Paribas Arbitrage SA now owns 99,542 shares of the company’s stock valued at $13,048,000 after acquiring an additional 72,260 shares during the period. Finally, Norinchukin Bank The grew its stake in J.M. Smucker Company (The) by 7.1% in the first quarter. Norinchukin Bank The now owns 7,566 shares of the company’s stock valued at $992,000 after acquiring an additional 503 shares during the period. 73.46% of the stock is owned by hedge funds and other institutional investors.
J.M. Smucker Company (The) Company Profile
The J. M. Smucker Company is a manufacturer and marketer of branded food and beverage products and pet food and pet snacks in North America. The Company’s segments include U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Foodservice. The Company’s U.S. retail market segments consist of the sale of branded food products to consumers through retail outlets in North America.
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