J. M. Smucker (NYSE:SJM) Given New $104.00 Price Target at Morgan Stanley

Key Points

• Morgan Stanley cut its price target on J.M. Smucker to $104 (from $118) and kept an "equal weight" rating, implying about a 9.7% upside from the stock's recent price (~$94.79).
• The street consensus is a Hold with an average target of $117.25, based on 10 Buy, 9 Hold and 1 Sell analyst ratings.
• Smucker beat quarterly estimates (EPS $2.38 vs. $2.27; revenue $2.34B vs. $2.32B) but still reported a negative net margin (-14.07%)

J. M. Smucker (NYSE:SJM - Get Free Report) had its target price cut by research analysts at Morgan Stanley from $118.00 to $104.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Morgan Stanley's price target would suggest a potential upside of 9.71% from the company's current price.

A number of other equities research analysts also recently issued reports on the stock. Weiss Ratings reissued a "sell (d)" rating on shares of J. M. Smucker in a research note on Monday. Wells Fargo & Company reduced their price target on shares of J. M. Smucker from $135.00 to $125.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 8th. BNP Paribas Exane set a $125.00 price target on shares of J. M. Smucker in a research note on Thursday, April 9th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of J. M. Smucker from $117.00 to $97.00 and set a "hold" rating on the stock in a research note on Monday, March 30th. Finally, Stifel Nicolaus reduced their price target on shares of J. M. Smucker from $120.00 to $100.00 and set a "hold" rating on the stock in a research note on Tuesday. Ten equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $117.25.

J. M. Smucker Price Performance

Shares of SJM stock opened at $94.79 on Thursday. 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 $102.23 and its two-hundred day moving average is $102.76. J. M. Smucker has a 12 month low of $88.25 and a 12 month high of $119.39. The company has a market capitalization of $10.11 billion, a PE ratio of -8.04, a price-to-earnings-growth ratio of 4.16 and a beta of 0.27.

J. M. Smucker (NYSE:SJM - Get Free Report) last issued its earnings results on Thursday, February 26th. The company reported $2.38 EPS for the quarter, topping analysts' consensus estimates of $2.27 by $0.11. The company had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.32 billion. J. M. Smucker had a negative net margin of 14.07% and a positive return on equity of 15.94%. J. M. Smucker's quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.61 earnings per share. Analysts predict that J. M. Smucker will post 9.05 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SJM. Garton & Associates Financial Advisors LLC acquired a new position in shares of J. M. Smucker in the fourth quarter valued at approximately $25,000. CYBER HORNET ETFs LLC acquired a new position in J. M. Smucker during the 2nd quarter worth approximately $27,000. Root Financial Partners LLC acquired a new position in J. M. Smucker during the 3rd quarter worth approximately $29,000. MCF Advisors LLC grew its holdings in J. M. Smucker by 68.1% during the 4th quarter. MCF Advisors LLC now owns 311 shares of the company's stock worth $30,000 after acquiring an additional 126 shares in the last quarter. Finally, MUFG Securities EMEA plc acquired a new position in J. M. Smucker during the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 81.66% of the company's stock.

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.

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