Bank of America Issues Positive Forecast for J. M. Smucker (NYSE:SJM) Stock Price

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J. M. Smucker (NYSE:SJM - Get Free Report) had its price objective raised by equities research analysts at Bank of America from $105.00 to $120.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Bank of America's price target suggests a potential upside of 7.21% from the company's previous close.

SJM has been the topic of a number of other reports. Jefferies Financial Group upgraded shares of J. M. Smucker from a "hold" rating to a "buy" rating and cut their price target for the stock from $118.00 to $115.00 in a report on Wednesday, June 11th. UBS Group lowered their price objective on shares of J. M. Smucker from $134.00 to $129.00 and set a "buy" rating for the company in a research note on Friday, June 6th. Barclays lowered their price objective on shares of J. M. Smucker from $119.00 to $105.00 and set an "equal weight" rating for the company in a research note on Wednesday, June 11th. Zacks Research raised shares of J. M. Smucker to a "hold" rating in a research note on Monday, August 11th. Finally, Royal Bank Of Canada started coverage on shares of J. M. Smucker in a research note on Monday, July 7th. They issued an "outperform" rating and a $130.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $118.83.

J. M. Smucker Stock Up 0.4%

NYSE:SJM traded up $0.47 on Tuesday, reaching $111.94. 171,021 shares of the stock traded hands, compared to its average volume of 1,555,874. The company's fifty day simple moving average is $104.32 and its 200 day simple moving average is $109.24. The company has a current ratio of 0.81, a quick ratio of 0.35 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $11.92 billion, a price-to-earnings ratio of -9.63, a PEG ratio of 8.42 and a beta of 0.31. J. M. Smucker has a 12 month low of $93.30 and a 12 month high of $125.42.

J. M. Smucker (NYSE:SJM - Get Free Report) last released its quarterly earnings data on Tuesday, June 10th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.06. The firm had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.18 billion. J. M. Smucker had a negative net margin of 14.10% and a positive return on equity of 15.20%. The company's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.66 earnings per share. Equities analysts predict that J. M. Smucker will post 9.88 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Tarang Amin acquired 1,050 shares of the stock in a transaction on Thursday, June 12th. The stock was acquired at an average cost of $96.09 per share, for a total transaction of $100,894.50. Following the completion of the transaction, the director directly owned 3,825 shares in the company, valued at approximately $367,544.25. This trade represents a 37.84% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 2.24% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SJM. Merit Financial Group LLC bought a new stake in shares of J. M. Smucker during the 1st quarter valued at about $203,000. Farther Finance Advisors LLC boosted its position in shares of J. M. Smucker by 113.5% during the 1st quarter. Farther Finance Advisors LLC now owns 2,923 shares of the company's stock worth $346,000 after purchasing an additional 1,554 shares in the last quarter. Costello Asset Management INC bought a new position in shares of J. M. Smucker during the 1st quarter worth about $50,000. Schonfeld Strategic Advisors LLC boosted its position in shares of J. M. Smucker by 124.8% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 13,355 shares of the company's stock worth $1,471,000 after purchasing an additional 7,414 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its stake in J. M. Smucker by 1.6% in the 1st quarter. State of Alaska Department of Revenue now owns 20,968 shares of the company's stock valued at $2,482,000 after buying an additional 335 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

J. M. Smucker Company Profile

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.

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