Sanford C. Bernstein Upgrades J. M. Smucker (NYSE:SJM) to Outperform

J. M. Smucker (NYSE:SJM) was upgraded by equities research analysts at Sanford C. Bernstein from a “market perform” rating to an “outperform” rating in a report issued on Wednesday, MarketBeat reports. The firm currently has a $145.00 target price on the stock, up from their previous target price of $121.00. Sanford C. Bernstein’s price objective would indicate a potential upside of 36.65% from the company’s current price.

Several other equities analysts have also recently commented on SJM. Bank of America raised shares of J. M. Smucker from a “neutral” rating to a “buy” rating and set a $130.00 price target for the company in a research report on Monday, February 23rd. Barclays upped their price objective on J. M. Smucker from $105.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Monday, March 2nd. Morgan Stanley reiterated an “equal weight” rating and issued a $105.00 price objective (down from $115.00) on shares of J. M. Smucker in a research note on Friday, January 16th. Wall Street Zen lowered J. M. Smucker from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Finally, UBS Group lowered their target price on J. M. Smucker from $120.00 to $117.00 and set a “buy” rating for the company in a research note on Wednesday, November 26th. Nine investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, J. M. Smucker has an average rating of “Hold” and a consensus target price of $121.14.

J. M. Smucker Stock Down 1.4%

Shares of NYSE:SJM opened at $106.11 on Wednesday. The firm has a market capitalization of $11.32 billion, a PE ratio of -9.00, a price-to-earnings-growth ratio of 4.48 and a beta of 0.22. J. M. Smucker has a 1 year low of $93.30 and a 1 year high of $120.76. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.84 and a quick ratio of 0.35. The firm’s 50-day moving average is $106.25 and its two-hundred day moving average is $105.33.

J. M. Smucker (NYSE:SJM) last posted its quarterly earnings data on Thursday, February 26th. The company reported $2.38 EPS for the quarter, beating the consensus estimate of $2.27 by $0.11. The business had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.32 billion. J. M. Smucker had a negative net margin of 14.07% and a positive return on equity of 15.94%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.61 earnings per share. Analysts predict that J. M. Smucker will post 9.88 EPS for the current year.

Institutional Investors Weigh In On J. M. Smucker

Several institutional investors have recently modified their holdings of SJM. Garton & Associates Financial Advisors LLC purchased a new position in J. M. Smucker in the fourth quarter valued at $25,000. CYBER HORNET ETFs LLC purchased a new stake in J. M. Smucker during the 2nd quarter worth about $27,000. Elevation Point Wealth Partners LLC purchased a new stake in J. M. Smucker during the 2nd quarter worth about $28,000. Root Financial Partners LLC acquired a new position in shares of J. M. Smucker during the 3rd quarter worth about $29,000. Finally, MCF Advisors LLC increased its holdings in shares of J. M. Smucker by 68.1% in the 4th quarter. MCF Advisors LLC now owns 311 shares of the company’s stock valued at $30,000 after acquiring an additional 126 shares during the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

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.