Wells Fargo & Company Issues Pessimistic Forecast for J. M. Smucker (NYSE:SJM) Stock Price

J. M. Smucker (NYSE:SJM - Get Free Report) had its price objective cut by Wells Fargo & Company from $135.00 to $115.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price target would suggest a potential upside of 18.18% from the company's current price.

Several other equities research analysts also recently commented on the company. Wall Street Zen raised J. M. Smucker from a "sell" rating to a "hold" rating in a report on Friday, March 28th. Stifel Nicolaus set a $120.00 price target on shares of J. M. Smucker in a research note on Tuesday. Jefferies Financial Group raised shares of J. M. Smucker from a "hold" rating to a "buy" rating and decreased their price objective for the company from $118.00 to $115.00 in a research report on Wednesday. UBS Group dropped their target price on shares of J. M. Smucker from $134.00 to $129.00 and set a "buy" rating on the stock in a report on Friday, June 6th. Finally, Barclays cut their target price on shares of J. M. Smucker from $123.00 to $119.00 and set an "equal weight" rating for the company in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, J. M. Smucker currently has an average rating of "Hold" and an average price target of $117.55.

J. M. Smucker Trading Up 1.5%

NYSE:SJM traded up $1.44 during trading hours on Wednesday, hitting $97.31. 3,783,852 shares of the stock were exchanged, compared to its average volume of 1,226,102. The company has a market capitalization of $10.36 billion, a P/E ratio of 19.70, a price-to-earnings-growth ratio of 3.91 and a beta of 0.35. The company has a quick ratio of 0.27, a current ratio of 0.58 and a debt-to-equity ratio of 0.89. The company's 50 day moving average is $112.57 and its two-hundred day moving average is $110.88. J. M. Smucker has a twelve month low of $93.93 and a twelve month high of $125.42.

J. M. Smucker (NYSE:SJM - Get Free Report) last issued its quarterly earnings results 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. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the prior year, the firm posted $2.66 earnings per share. The firm's revenue for the quarter was down 2.8% compared to the same quarter last year. On average, sell-side analysts anticipate that J. M. Smucker will post 9.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Tarang Amin bought 1,050 shares of the business's stock in a transaction on Thursday, June 12th. The stock was acquired at an average price of $96.09 per share, with a total value of $100,894.50. Following the completion of the purchase, the director now directly owns 3,825 shares in the company, valued at $367,544.25. This represents a 37.84% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jill R. Penrose sold 5,117 shares of the stock in a transaction on Friday, March 28th. The shares were sold at an average price of $116.26, for a total transaction of $594,902.42. Following the sale, the insider now directly owns 8,794 shares of the company's stock, valued at $1,022,390.44. The trade was a 36.78% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company's stock.

Institutional Trading of J. M. Smucker

Hedge funds have recently modified their holdings of the business. Sumitomo Mitsui Trust Group Inc. grew its position in J. M. Smucker by 3.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 324,381 shares of the company's stock valued at $35,721,000 after purchasing an additional 11,339 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of J. M. Smucker by 1.8% during the fourth quarter. Asset Management One Co. Ltd. now owns 73,222 shares of the company's stock valued at $8,100,000 after buying an additional 1,303 shares during the last quarter. Private Advisor Group LLC increased its position in shares of J. M. Smucker by 39.6% during the fourth quarter. Private Advisor Group LLC now owns 17,471 shares of the company's stock valued at $1,924,000 after acquiring an additional 4,960 shares in the last quarter. Sandy Spring Bank raised its holdings in J. M. Smucker by 1,365.5% in the 4th quarter. Sandy Spring Bank now owns 425 shares of the company's stock worth $47,000 after acquiring an additional 396 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its position in J. M. Smucker by 124.8% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 13,355 shares of the company's stock valued at $1,471,000 after acquiring an additional 7,414 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.