J. M. Smucker (NYSE:SJM) Given New $100.00 Price Target at Stifel Nicolaus

J. M. Smucker (NYSE:SJM) had its price objective trimmed by Stifel Nicolaus from $120.00 to $100.00 in a report issued on Tuesday, MarketBeat Ratings reports. The brokerage currently has a hold rating on the stock.

SJM has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft cut their price target on J. M. Smucker from $117.00 to $97.00 and set a “hold” rating on the stock in a research note on Monday, March 30th. Canaccord Genuity Group raised J. M. Smucker to a “buy” rating in a research note on Friday, January 16th. Barclays cut their target price on J. M. Smucker from $125.00 to $103.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 14th. BTIG Research started coverage on J. M. Smucker in a research note on Monday, April 13th. They issued a “buy” rating and a $120.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their target price on J. M. Smucker from $121.00 to $122.00 and gave the company an “overweight” rating in a research note on Monday, February 23rd. Ten equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, J. M. Smucker has an average rating of “Hold” and a consensus target price of $117.31.

J. M. Smucker Trading Down 0.4%

Shares of SJM opened at $95.77 on Tuesday. The company has a quick ratio of 0.35, a current ratio of 0.84 and a debt-to-equity ratio of 1.31. J. M. Smucker has a 12-month low of $88.25 and a 12-month high of $119.39. The firm has a market capitalization of $10.21 billion, a PE ratio of -8.12, a price-to-earnings-growth ratio of 4.17 and a beta of 0.27. The stock’s fifty day simple moving average is $102.55 and its 200-day simple moving average is $102.81.

J. M. Smucker (NYSE:SJM) last issued its quarterly earnings results on Thursday, February 26th. The company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.11. J. M. Smucker had a positive return on equity of 15.94% and a negative net margin of 14.07%.The business had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the prior year, the firm posted $2.61 earnings per share. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, research analysts predict that J. M. Smucker will post 9.05 earnings per share for the current year.

J. M. Smucker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be paid a $1.10 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $4.40 annualized dividend and a yield of 4.6%. J. M. Smucker’s dividend payout ratio is presently -37.32%.

Hedge Funds Weigh In On J. M. Smucker

Several hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of J. M. Smucker by 10.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,440 shares of the company’s stock worth $2,286,000 after acquiring an additional 1,763 shares in the last quarter. United Services Automobile Association bought a new stake in shares of J. M. Smucker in the first quarter worth about $253,000. Empowered Funds LLC increased its holdings in shares of J. M. Smucker by 28.6% in the first quarter. Empowered Funds LLC now owns 12,992 shares of the company’s stock worth $1,538,000 after acquiring an additional 2,889 shares in the last quarter. 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 worth $1,065,000 after acquiring an additional 2,600 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of J. M. Smucker by 6.7% in the second quarter. American Century Companies Inc. now owns 2,209 shares of the company’s stock worth $217,000 after acquiring an additional 138 shares in the last quarter. Institutional investors and hedge funds 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.