Barclays Cuts J. M. Smucker (NYSE:SJM) Price Target to $105.00

J. M. Smucker (NYSE:SJM) had its target price cut by Barclays from $119.00 to $105.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

SJM has been the subject of a number of other research reports. Wells Fargo & Company dropped their price objective on shares of J. M. Smucker from $135.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday. Bank of America dropped their price objective on shares of J. M. Smucker from $118.00 to $105.00 and set a “neutral” rating for the company in a research note on Wednesday. Stifel Nicolaus set a $120.00 price objective on shares of J. M. Smucker in a research note on Tuesday. DA Davidson lowered their target price on shares of J. M. Smucker from $122.00 to $120.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Finally, Jefferies Financial Group raised shares of J. M. Smucker from a “hold” rating to a “buy” rating and lowered their target price for the stock from $118.00 to $115.00 in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $115.80.

J. M. Smucker Stock Down 1.7%

J. M. Smucker stock opened at $95.73 on Wednesday. The firm has a market cap of $10.19 billion, a price-to-earnings ratio of 19.38, a P/E/G ratio of 3.91 and a beta of 0.35. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.58 and a quick ratio of 0.27. J. M. Smucker has a fifty-two week low of $93.93 and a fifty-two week high of $125.42. The firm has a fifty day moving average price of $112.29 and a two-hundred day moving average price of $110.71.

J. M. Smucker (NYSE:SJM) last released its earnings results on Tuesday, June 10th. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.25 by $0.06. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.18 billion. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.35%. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.66 EPS. As a group, analysts forecast that J. M. Smucker will post 9.88 earnings per share for the current year.

J. M. Smucker Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were paid a dividend of $1.08 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $4.32 dividend on an annualized basis and a yield of 4.51%. J. M. Smucker’s payout ratio is -37.37%.

Insider Buying and Selling

In related news, insider Jill R. Penrose sold 5,117 shares of the stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $116.26, for a total transaction of $594,902.42. Following the completion of the sale, the insider now directly owns 8,794 shares of the company’s stock, valued at approximately $1,022,390.44. This represents a 36.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Tarang Amin bought 1,050 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were acquired at an average cost of $96.09 per share, with a total value of $100,894.50. Following the completion of the purchase, the director now owns 3,825 shares in the company, valued at $367,544.25. This represents a 37.84% increase in their position. The disclosure for this purchase can be found here. 3.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On J. M. Smucker

Several hedge funds have recently made changes to their positions in SJM. Capital Advisors Ltd. LLC grew its stake in shares of J. M. Smucker by 188.8% during the 4th quarter. Capital Advisors Ltd. LLC now owns 231 shares of the company’s stock worth $25,000 after acquiring an additional 151 shares in the last quarter. Tortoise Investment Management LLC grew its stake in shares of J. M. Smucker by 87.0% during the 1st quarter. Tortoise Investment Management LLC now owns 215 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares in the last quarter. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of J. M. Smucker during the 4th quarter worth approximately $27,000. Kentucky Trust Co bought a new position in shares of J. M. Smucker during the 4th quarter worth approximately $28,000. Finally, Minot DeBlois Advisors LLC bought a new position in shares of J. M. Smucker during the 4th quarter worth approximately $28,000. 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.