The J. M. Smucker Company (NYSE:SJM) Given Average Rating of “Reduce” by Analysts

Posted by Defense World Staff on Sep 15th, 2023

The J. M. Smucker Company (NYSE:SJM – Get Free Report) has been assigned an average rating of “Reduce” from the thirteen brokerages that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $149.93.

Several brokerages recently weighed in on SJM. Stifel Nicolaus cut their price objective on shares of J. M. Smucker from $160.00 to $150.00 and set a “hold” rating on the stock in a research report on Wednesday, August 30th. The Goldman Sachs Group raised their price objective on shares of J. M. Smucker from $129.00 to $130.00 in a research report on Tuesday, August 29th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of J. M. Smucker from $157.00 to $135.00 and set a “hold” rating on the stock in a research report on Tuesday. StockNews.com started coverage on shares of J. M. Smucker in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Barclays dropped their price target on shares of J. M. Smucker from $165.00 to $160.00 in a research report on Thursday, June 8th.

View Our Latest Research Report on SJM

J. M. Smucker Price Performance

Shares of SJM opened at $127.37 on Friday. The firm has a market cap of $13.01 billion, a PE ratio of -749.24, a PEG ratio of 2.42 and a beta of 0.23. The firm’s 50 day moving average price is $145.02 and its 200 day moving average price is $149.74. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.93 and a current ratio of 1.28. J. M. Smucker has a twelve month low of $126.25 and a twelve month high of $163.07.

J. M. Smucker (NYSE:SJM – Get Free Report) last issued its quarterly earnings data on Tuesday, August 29th. The company reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.19. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.84 billion. J. M. Smucker had a negative net margin of 0.21% and a positive return on equity of 12.96%. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.67 earnings per share. As a group, research analysts expect that J. M. Smucker will post 9.72 EPS for the current fiscal year.

J. M. Smucker Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 18th were issued a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a dividend yield of 3.33%. This is a boost from J. M. Smucker’s previous quarterly dividend of $1.02. The ex-dividend date was Thursday, August 17th. J. M. Smucker’s payout ratio is currently -2,494.12%.

Insider Activity at J. M. Smucker

In related news, insider Amy C. Held sold 9,917 shares of J. M. Smucker stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $143.80, for a total value of $1,426,064.60. Following the completion of the transaction, the insider now directly owns 5,972 shares of the company’s stock, valued at $858,773.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other J. M. Smucker news, insider Amy C. Held sold 9,917 shares of the business’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $143.80, for a total transaction of $1,426,064.60. Following the completion of the sale, the insider now directly owns 5,972 shares of the company’s stock, valued at approximately $858,773.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard K. Smucker sold 19,576 shares of the business’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $151.95, for a total value of $2,974,573.20. Following the sale, the director now directly owns 623,605 shares of the company’s stock, valued at $94,756,779.75. The disclosure for this sale can be found here. Insiders sold 39,465 shares of company stock valued at $5,919,283 over the last ninety days. 3.50% of the stock is owned by insiders.

Hedge Funds Weigh In On J. M. Smucker

Institutional investors have recently modified their holdings of the stock. Two Sigma Investments LP grew its position in shares of J. M. Smucker by 192.9% during the 4th quarter. Two Sigma Investments LP now owns 368,238 shares of the company’s stock worth $58,351,000 after buying an additional 242,517 shares during the period. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of J. M. Smucker during the 1st quarter worth about $597,000. O Shaughnessy Asset Management LLC grew its position in shares of J. M. Smucker by 4.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 15,770 shares of the company’s stock worth $2,499,000 after buying an additional 710 shares during the period. Impax Asset Management Group plc grew its position in shares of J. M. Smucker by 92.0% during the 1st quarter. Impax Asset Management Group plc now owns 5,141 shares of the company’s stock worth $809,000 after buying an additional 2,463 shares during the period. Finally, Vontobel Holding Ltd. grew its position in shares of J. M. Smucker by 89.3% during the 1st quarter. Vontobel Holding Ltd. now owns 102,430 shares of the company’s stock worth $16,119,000 after buying an additional 48,318 shares during the period. 79.08% of the stock is currently owned by institutional investors and hedge funds.

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.