TD Cowen Cuts J. M. Smucker (NYSE:SJM) Price Target to $113.00

J. M. Smucker (NYSE:SJM) had its price objective cut by TD Cowen from $124.00 to $113.00 in a report released on Thursday,Benzinga reports. They currently have a hold rating on the stock.

Several other research firms have also issued reports on SJM. JPMorgan Chase & Co. upped their target price on J. M. Smucker from $121.00 to $122.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. Canaccord Genuity Group upgraded J. M. Smucker to a “buy” rating in a research note on Friday, January 16th. Sanford C. Bernstein raised J. M. Smucker from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $121.00 to $145.00 in a research report on Wednesday, March 11th. Bank of America upgraded J. M. Smucker from a “neutral” rating to a “buy” rating and set a $130.00 price objective on the stock in a research note on Monday, February 23rd. Finally, Wall Street Zen downgraded J. M. Smucker from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Nine research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $121.21.

J. M. Smucker Stock Down 0.9%

J. M. Smucker stock opened at $99.50 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.35 and a debt-to-equity ratio of 1.31. J. M. Smucker has a 1-year low of $93.30 and a 1-year high of $120.76. The company has a fifty day simple moving average of $106.93 and a 200 day simple moving average of $105.02. The company has a market cap of $10.61 billion, a P/E ratio of -8.44, a price-to-earnings-growth ratio of 4.14 and a beta of 0.22.

J. M. Smucker (NYSE:SJM) last issued its quarterly earnings results on Thursday, February 26th. The company reported $2.38 EPS for the quarter, topping the consensus estimate of $2.27 by $0.11. J. M. Smucker had a negative net margin of 14.07% and a positive return on equity of 15.94%. The firm had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.32 billion. During the same period in the previous year, the firm posted $2.61 EPS. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. Research analysts anticipate that J. M. Smucker will post 9.88 earnings per share for the current fiscal year.

J. M. Smucker Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 13th were issued a dividend of $1.10 per share. The ex-dividend date was Friday, February 13th. This represents a $4.40 dividend on an annualized basis and a yield of 4.4%. J. M. Smucker’s dividend payout ratio (DPR) is presently -37.32%.

Institutional Trading of J. M. Smucker

Several institutional investors and hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in J. M. Smucker by 10.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,440 shares of the company’s stock valued at $2,286,000 after acquiring an additional 1,763 shares during the period. United Services Automobile Association acquired a new stake in J. M. Smucker during the 1st quarter valued at $253,000. Empowered Funds LLC boosted its position in J. M. Smucker by 28.6% during the first quarter. Empowered Funds LLC now owns 12,992 shares of the company’s stock worth $1,538,000 after purchasing an additional 2,889 shares during the period. Woodline Partners LP increased its holdings in shares of J. M. Smucker by 40.7% in the first quarter. Woodline Partners LP now owns 8,990 shares of the company’s stock valued at $1,065,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey increased its holdings in shares of J. M. Smucker by 4.8% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 15,683 shares of the company’s stock valued at $1,540,000 after purchasing an additional 722 shares during the last quarter. Institutional investors own 81.66% of the company’s stock.

J. M. Smucker Company Profile

The J. M. Smucker Company is a diversified food and beverage manufacturer and marketer known for a portfolio of well-established consumer brands. The company’s main business activities include the production and distribution of fruit spreads, peanut butter, coffee and coffee filters, as well as pet food and pet snacks. Smucker’s core product lines serve both retail and foodservice customers through grocery chains, mass merchandisers, club stores, convenience outlets and e-commerce channels.

Among its leading brands are Smucker’s® fruit spreads, Jif® peanut butter, Folgers® and Dunkin’® coffees, and Café Bustelo® coffee.