J. M. Smucker (NYSE:SJM) Price Target Raised to $110.00

J. M. Smucker (NYSE:SJM) had its price objective raised by Stifel Nicolaus from $106.00 to $110.00 in a report published on Tuesday morning,Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

A number of other equities research analysts also recently issued reports on SJM. Jefferies Financial Group raised shares of J. M. Smucker from a “hold” rating to a “buy” rating and reduced their price target for the company from $118.00 to $115.00 in a research note on Wednesday, June 11th. BNP Paribas raised J. M. Smucker from a “strong sell” rating to a “strong-buy” rating in a research report on Wednesday, July 9th. Bank of America lowered their price target on J. M. Smucker from $118.00 to $105.00 and set a “neutral” rating for the company in a research report on Wednesday, June 11th. Royal Bank Of Canada started coverage on J. M. Smucker in a report on Monday, July 7th. They issued an “outperform” rating and a $130.00 price objective on the stock. Finally, Wells Fargo & Company lowered their target price on J. M. Smucker from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, June 11th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, J. M. Smucker presently has an average rating of “Moderate Buy” and an average target price of $117.67.

J. M. Smucker Trading Down 1.7%

Shares of J. M. Smucker stock opened at $107.24 on Tuesday. The stock has a 50 day moving average of $104.67 and a 200 day moving average of $108.61. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.35 and a current ratio of 0.81. The firm has a market capitalization of $11.42 billion, a price-to-earnings ratio of -9.28, a PEG ratio of 8.29 and a beta of 0.31. J. M. Smucker has a fifty-two week low of $93.30 and a fifty-two week high of $125.42.

J. M. Smucker (NYSE:SJM) last announced its quarterly 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 business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.18 billion. J. M. Smucker had a positive return on equity of 15.20% and a negative net margin of 14.10%. The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.66 EPS. As a group, research analysts predict that J. M. Smucker will post 9.88 earnings per share for the current year.

J. M. Smucker Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th will be given a dividend of $1.10 per share. This is a boost from J. M. Smucker’s previous quarterly dividend of $1.08. This represents a $4.40 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Friday, August 15th. J. M. Smucker’s dividend payout ratio is presently -38.06%.

Insider Activity at J. M. Smucker

In other news, Director Tarang Amin bought 1,050 shares of J. M. Smucker stock in a transaction that occurred on Thursday, June 12th. The shares were purchased at an average price of $96.09 per share, with a total value of $100,894.50. Following the completion of the acquisition, the director directly owned 3,825 shares in the company, valued at $367,544.25. The trade was a 37.84% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.24% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tortoise Investment Management LLC grew its stake in shares of J. M. Smucker by 87.0% during the first quarter. Tortoise Investment Management LLC now owns 215 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares in the last quarter. Nova Wealth Management Inc. purchased a new stake in J. M. Smucker during the 2nd quarter worth about $25,000. AlphaQuest LLC acquired a new position in shares of J. M. Smucker during the 2nd quarter worth about $26,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of J. M. Smucker in the 4th quarter valued at about $27,000. Finally, Minot DeBlois Advisors LLC purchased a new position in shares of J. M. Smucker in the 4th quarter valued at about $28,000. 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.