J. M. Smucker (NYSE:SJM) Rating Lowered to Hold at TD Cowen

J. M. Smucker (NYSE:SJM) was downgraded by TD Cowen from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, Marketbeat reports. They presently have a $121.00 target price on the stock, down from their previous target price of $130.00. TD Cowen’s price objective would suggest a potential upside of 14.84% from the company’s previous close.

Several other brokerages also recently weighed in on SJM. Barclays lowered their price target on shares of J. M. Smucker from $126.00 to $123.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 4th. StockNews.com upgraded shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Monday, September 30th. Stifel Nicolaus cut J. M. Smucker from a “buy” rating to a “hold” rating and decreased their price target for the company from $135.00 to $125.00 in a report on Friday, October 25th. Finally, Wells Fargo & Company boosted their price objective on J. M. Smucker from $130.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, J. M. Smucker presently has a consensus rating of “Hold” and an average target price of $127.33.

J. M. Smucker Trading Down 2.0 %

NYSE:SJM opened at $105.36 on Wednesday. J. M. Smucker has a one year low of $104.27 and a one year high of $134.62. The business has a fifty day moving average price of $112.88 and a 200-day moving average price of $115.70. The firm has a market capitalization of $11.21 billion, a price-to-earnings ratio of 21.33, a price-to-earnings-growth ratio of 3.46 and a beta of 0.28. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.58 and a quick ratio of 0.27.

J. M. Smucker (NYSE:SJM) last issued its quarterly earnings results on Tuesday, November 26th. The company reported $2.76 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.25. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. The business had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the prior year, the business posted $2.59 earnings per share. The business’s quarterly revenue was up 17.2% on a year-over-year basis. Sell-side analysts forecast that J. M. Smucker will post 9.89 EPS for the current year.

Insider Activity at J. M. Smucker

In other J. M. Smucker news, CFO Tucker H. Marshall sold 994 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $113.00, for a total transaction of $112,322.00. Following the sale, the chief financial officer now directly owns 18,734 shares in the company, valued at $2,116,942. This represents a 5.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 3.40% of the stock is owned by insiders.

Hedge Funds Weigh In On J. M. Smucker

Several large investors have recently modified their holdings of SJM. Studio Investment Management LLC bought a new stake in J. M. Smucker in the second quarter worth $26,000. Venturi Wealth Management LLC raised its stake in shares of J. M. Smucker by 1,329.4% in the third quarter. Venturi Wealth Management LLC now owns 243 shares of the company’s stock valued at $29,000 after acquiring an additional 226 shares during the period. Quarry LP raised its stake in shares of J. M. Smucker by 212.6% in the second quarter. Quarry LP now owns 322 shares of the company’s stock valued at $35,000 after acquiring an additional 219 shares during the period. Catalyst Capital Advisors LLC bought a new stake in shares of J. M. Smucker in the 3rd quarter worth about $39,000. Finally, Eastern Bank purchased a new position in shares of J. M. Smucker during the 3rd quarter worth about $40,000. Institutional investors 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.