J. M. Smucker (NYSE:SJM) Price Target Cut to $105.00 by Analysts at Bank of America

J. M. Smucker (NYSE:SJM - Get Free Report) had its price objective reduced by equities research analysts at Bank of America from $118.00 to $105.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Bank of America's price objective points to a potential upside of 9.40% from the company's current price.

A number of other research firms have also recently issued reports on SJM. UBS Group reduced their price objective on J. M. Smucker from $134.00 to $129.00 and set a "buy" rating for the company in a research report on Friday, June 6th. Jefferies Financial Group upgraded J. M. Smucker from a "hold" rating to a "buy" rating and dropped their price objective for the stock from $118.00 to $115.00 in a research note on Wednesday. Barclays reduced their price target on shares of J. M. Smucker from $123.00 to $119.00 and set an "equal weight" rating for the company in a report on Monday, March 3rd. Morgan Stanley restated an "overweight" rating and set a $124.00 price objective (up from $123.00) on shares of J. M. Smucker in a research report on Friday, June 6th. Finally, Stifel Nicolaus set a $120.00 price objective on J. M. Smucker in a report on Tuesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $117.55.

J. M. Smucker Trading Up 0.1%

Shares of SJM traded up $0.11 during midday trading on Wednesday, hitting $95.98. The stock had a trading volume of 1,684,564 shares, compared to its average volume of 1,217,408. The business has a 50-day simple moving average of $112.89 and a two-hundred day simple moving average of $110.99. The firm has a market cap of $10.21 billion, a P/E ratio of 19.43, a price-to-earnings-growth ratio of 3.91 and a beta of 0.35. The company has a current ratio of 0.58, a quick ratio of 0.27 and a debt-to-equity ratio of 0.89. J. M. Smucker has a fifty-two week low of $93.93 and a fifty-two week high of $125.42.

J. M. Smucker (NYSE:SJM - Get Free Report) last posted its quarterly earnings data on Tuesday, June 10th. The company reported $2.31 earnings per share for the quarter, topping 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 net margin of 5.96% and a return on equity of 14.35%. The company's quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.66 EPS. As a group, equities analysts forecast that J. M. Smucker will post 9.88 EPS for the current year.

Insider Activity at J. M. Smucker

In other J. M. Smucker news, insider Jill R. Penrose sold 5,117 shares of the stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $116.26, for a total value of $594,902.42. Following the completion of the sale, the insider now directly owns 8,794 shares in the company, valued at $1,022,390.44. This represents a 36.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On J. M. Smucker

Large investors have recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of J. M. Smucker during the fourth quarter worth about $112,978,000. LSV Asset Management boosted its position in J. M. Smucker by 3,599.5% during the 4th quarter. LSV Asset Management now owns 929,400 shares of the company's stock worth $102,346,000 after acquiring an additional 904,278 shares during the last quarter. Maverick Capital Ltd. bought a new position in shares of J. M. Smucker during the 1st quarter worth approximately $64,125,000. Two Sigma Advisers LP raised its holdings in shares of J. M. Smucker by 76.7% in the fourth quarter. Two Sigma Advisers LP now owns 1,078,892 shares of the company's stock valued at $118,808,000 after purchasing an additional 468,200 shares during the last quarter. Finally, FIL Ltd lifted its position in shares of J. M. Smucker by 87.8% in the fourth quarter. FIL Ltd now owns 925,000 shares of the company's stock worth $101,861,000 after purchasing an additional 432,500 shares in the last quarter. Institutional investors own 81.66% of the company's stock.

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.