J. M. Smucker (NYSE:SJM) Price Target Lowered to $118.00 at Citigroup

J. M. Smucker (NYSE:SJM - Free Report) had its price objective lowered by Citigroup from $128.00 to $118.00 in a research note released on Wednesday,Benzinga reports. Citigroup currently has a buy rating on the stock.

Other research analysts also recently issued research reports about the company. Barclays lowered their target price on 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. Jefferies Financial Group upgraded shares of J. M. Smucker from a "hold" rating to a "buy" rating and lowered their price objective for the stock from $118.00 to $115.00 in a research report on Wednesday. Bank of America cut their target price on shares of J. M. Smucker from $118.00 to $105.00 and set a "neutral" rating on the stock in a research report on Wednesday. Wells Fargo & Company decreased their target price on shares of J. M. Smucker from $135.00 to $115.00 and set an "overweight" rating on the stock in a research note on Wednesday. Finally, Stifel Nicolaus set a $120.00 price target on shares of J. M. Smucker in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $117.55.

J. M. Smucker Price Performance

NYSE SJM traded up $0.34 on Wednesday, hitting $96.21. 2,138,824 shares of the company's stock were exchanged, compared to its average volume of 1,219,778. The stock has a 50-day moving average of $112.89 and a 200-day moving average of $110.99. 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 52 week low of $93.93 and a 52 week high of $125.42. The stock has a market cap of $10.24 billion, a price-to-earnings ratio of 19.48, a P/E/G ratio of 3.91 and a beta of 0.35.

J. M. Smucker (NYSE:SJM - Get Free Report) last posted its quarterly earnings results on Tuesday, June 10th. The company reported $2.31 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.18 billion. During the same quarter in the previous year, the firm earned $2.66 EPS. J. M. Smucker's revenue was down 2.8% on a year-over-year basis. Analysts expect that J. M. Smucker will post 9.88 earnings per share for the current year.

J. M. Smucker Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were issued a $1.08 dividend. The ex-dividend date was Friday, May 16th. This represents a $4.32 dividend on an annualized basis and a yield of 4.49%. J. M. Smucker's payout ratio is -179.25%.

Insider Buying and Selling

In related news, insider Jill R. Penrose sold 5,117 shares of the company's stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $116.26, for a total value of $594,902.42. Following 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 SEC, which is available at this hyperlink. 3.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On J. M. Smucker

A number of hedge funds have recently bought and sold shares of the company. Strs Ohio bought a new stake in shares of J. M. Smucker in the 1st quarter valued at $2,243,000. Advisors Capital Management LLC grew its holdings in J. M. Smucker by 7.4% in the first quarter. Advisors Capital Management LLC now owns 254,483 shares of the company's stock worth $30,133,000 after purchasing an additional 17,539 shares during the period. Geneos Wealth Management Inc. increased its stake in J. M. Smucker by 14.9% in the first quarter. Geneos Wealth Management Inc. now owns 1,378 shares of the company's stock valued at $163,000 after purchasing an additional 179 shares in the last quarter. Ransom Advisory Ltd bought a new stake in J. M. Smucker in the first quarter valued at $47,000. Finally, Anchor Investment Management LLC raised its holdings in shares of J. M. Smucker by 3.7% during the first quarter. Anchor Investment Management LLC now owns 17,037 shares of the company's stock valued at $2,017,000 after purchasing an additional 607 shares during the period. 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.