Morgan Stanley upgraded shares of J M Smucker (NYSE:SJM) from an underweight rating to an equal weight rating in a research report sent to investors on Thursday morning, Benzinga reports. Morgan Stanley currently has $117.00 price target on the stock, up from their previous price target of $104.00.
SJM has been the subject of several other research reports. Jefferies Financial Group set a $125.00 target price on J M Smucker and gave the stock a buy rating in a research report on Tuesday, February 26th. Credit Suisse Group set a $120.00 target price on J M Smucker and gave the stock a hold rating in a research report on Thursday, December 20th. Zacks Investment Research upgraded J M Smucker from a sell rating to a hold rating in a research report on Tuesday, February 12th. Argus began coverage on J M Smucker in a research report on Monday, April 1st. They set a hold rating for the company. Finally, Guggenheim began coverage on J M Smucker in a research report on Tuesday, January 22nd. They set a sell rating and a $85.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. J M Smucker currently has an average rating of Hold and an average price target of $116.09.
Shares of SJM opened at $120.70 on Thursday. The company has a market capitalization of $13.73 billion, a PE ratio of 15.16, a PEG ratio of 2.53 and a beta of 0.56. The company has a quick ratio of 0.44, a current ratio of 0.95 and a debt-to-equity ratio of 0.66. J M Smucker has a 52 week low of $91.32 and a 52 week high of $121.42.
J M Smucker (NYSE:SJM) last issued its earnings results on Tuesday, February 26th. The company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.03 by $0.23. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.99 billion. J M Smucker had a return on equity of 11.61% and a net margin of 8.15%. The business’s revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.50 EPS. Equities analysts expect that J M Smucker will post 8.16 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.82%. J M Smucker’s dividend payout ratio is currently 42.71%.
In related news, SVP Jeannette L. Knudsen sold 1,932 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $102.86, for a total transaction of $198,725.52. Following the completion of the transaction, the senior vice president now owns 24,292 shares in the company, valued at approximately $2,498,675.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.92% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Quantamental Technologies LLC bought a new stake in J M Smucker during the 4th quarter valued at $28,000. Howe & Rusling Inc. raised its stake in J M Smucker by 218.3% during the 4th quarter. Howe & Rusling Inc. now owns 296 shares of the company’s stock valued at $28,000 after acquiring an additional 203 shares in the last quarter. Pinnacle Bank bought a new stake in J M Smucker during the 4th quarter valued at $39,000. Meeder Asset Management Inc. bought a new stake in J M Smucker during the 4th quarter valued at $44,000. Finally, Private Capital Group LLC bought a new stake in J M Smucker during the 4th quarter valued at $50,000. 77.98% of the stock is currently owned by hedge funds and other institutional investors.
About J M Smucker
The J. M. Smucker Company manufactures and markets branded food and beverage products worldwide. It operates in four segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The company primarily offers coffee, pet food and pet snacks, peanut butter, fruit spreads, shortening and oils, baking mixes and ready-to-spread frostings, frozen sandwiches, flour and baking ingredients, juices and beverages, and portion control products.
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