J. M. Smucker (NYSE:SJM) Upgraded to Buy at Bank of America

Bank of America upgraded shares of J. M. Smucker (NYSE:SJM) from a neutral rating to a buy rating in a research note released on Monday morning, MarketBeat Ratings reports. The brokerage currently has $130.00 target price on the stock.

Other equities research analysts have also issued reports about the company. Citigroup reaffirmed a “hold” rating on shares of J. M. Smucker in a report on Wednesday, November 26th. JPMorgan Chase & Co. reduced their price target on J. M. Smucker from $122.00 to $121.00 and set an “overweight” rating for the company in a research report on Wednesday, November 26th. Canaccord Genuity Group raised J. M. Smucker to a “buy” rating in a research note on Friday, January 16th. Sanford C. Bernstein boosted their price objective on J. M. Smucker from $110.00 to $113.00 and gave the company a “market perform” rating in a research note on Wednesday, November 26th. Finally, UBS Group decreased their target price on shares of J. M. Smucker from $120.00 to $117.00 and set a “buy” rating on the stock in a research note on Wednesday, November 26th. Eight analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $116.36.

J. M. Smucker Stock Performance

Shares of NYSE SJM opened at $110.89 on Monday. The firm has a 50 day moving average of $103.13 and a 200 day moving average of $105.32. The company has a current ratio of 0.89, a quick ratio of 0.37 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $11.83 billion, a price-to-earnings ratio of -9.88, a price-to-earnings-growth ratio of 6.74 and a beta of 0.23. J. M. Smucker has a 12-month low of $93.30 and a 12-month high of $121.48.

J. M. Smucker (NYSE:SJM) last released its quarterly earnings results on Tuesday, November 25th. The company reported $2.10 earnings per share for the quarter, missing the consensus estimate of $2.12 by ($0.02). The business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.32 billion. J. M. Smucker had a positive return on equity of 15.26% and a negative net margin of 13.61%.The firm’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.76 earnings per share. On average, research analysts anticipate that J. M. Smucker will post 9.88 earnings per share for the current year.

J. M. Smucker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Friday, February 13th will be given a dividend of $1.10 per share. The ex-dividend date is Friday, February 13th. This represents a $4.40 annualized dividend and a dividend yield of 4.0%. J. M. Smucker’s dividend payout ratio (DPR) is presently -39.22%.

Hedge Funds Weigh In On J. M. Smucker

Several institutional investors have recently bought and sold shares of SJM. Ashton Thomas Private Wealth LLC raised its holdings in shares of J. M. Smucker by 150.0% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 57,999 shares of the company’s stock worth $6,299,000 after acquiring an additional 34,800 shares in the last quarter. ProShare Advisors LLC increased its position in J. M. Smucker by 13.8% in the third quarter. ProShare Advisors LLC now owns 1,562,259 shares of the company’s stock worth $169,661,000 after purchasing an additional 188,868 shares during the last quarter. Ethic Inc. increased its position in J. M. Smucker by 28.8% in the third quarter. Ethic Inc. now owns 54,860 shares of the company’s stock worth $5,958,000 after purchasing an additional 12,279 shares during the last quarter. Thompson Investment Management Inc. purchased a new stake in J. M. Smucker during the third quarter valued at $5,464,000. Finally, Rakuten Investment Management Inc. bought a new position in J. M. Smucker during the third quarter valued at $12,278,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

About J. M. Smucker

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.