J. M. Smucker (NYSE:SJM) Reaches New 12-Month Low - Here's What Happened

The J. M. Smucker Company (NYSE:SJM - Get Free Report) shares hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $93.93 and last traded at $94.32, with a volume of 13895947 shares traded. The stock had previously closed at $111.85.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. DA Davidson lowered their price target on J. M. Smucker from $122.00 to $120.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 11th. Barclays dropped their target price on shares of J. M. Smucker from $119.00 to $105.00 and set an "equal weight" rating for the company in a research report on Wednesday. Stifel Nicolaus reduced their price target on shares of J. M. Smucker from $120.00 to $106.00 and set a "hold" rating on the stock in a research report on Wednesday. Morgan Stanley reaffirmed an "overweight" rating and set a $124.00 price objective (up previously from $123.00) on shares of J. M. Smucker in a report on Friday, June 6th. Finally, Citigroup reduced their target price on J. M. Smucker from $128.00 to $118.00 and set a "buy" rating on the stock in a report on Wednesday. One research 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, J. M. Smucker has an average rating of "Hold" and a consensus target price of $117.55.

J. M. Smucker Stock Up 0.1%

The business's fifty day simple moving average is $112.89 and its 200 day simple moving average is $110.99. The stock has a market cap of $10.21 billion, a price-to-earnings ratio of 19.42, 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 (NYSE:SJM - Get Free Report) last released its quarterly earnings data on Tuesday, June 10th. The company reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.25 by $0.06. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.18 billion. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. The firm's revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.66 earnings per share. Equities analysts forecast that The J. M. Smucker Company will post 9.88 earnings per share for the current fiscal year.

J. M. Smucker Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were issued a $1.08 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $4.32 annualized dividend and a yield of 4.50%. J. M. Smucker's dividend payout ratio (DPR) is presently -179.25%.

Insider Activity

In other J. M. Smucker news, insider Jill R. Penrose sold 5,117 shares of the business's 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 transaction, the insider now directly owns 8,794 shares of the company's stock, valued at approximately $1,022,390.44. The trade was a 36.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On J. M. Smucker

Institutional investors have recently modified their holdings of the business. Sumitomo Mitsui Trust Group Inc. boosted its stake in J. M. Smucker by 3.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 324,381 shares of the company's stock worth $35,721,000 after purchasing an additional 11,339 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of J. M. Smucker by 2.1% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,340 shares of the company's stock worth $1,249,000 after buying an additional 230 shares during the period. Empowered Funds LLC grew its holdings in shares of J. M. Smucker by 9.4% during the fourth quarter. Empowered Funds LLC now owns 10,103 shares of the company's stock worth $1,113,000 after buying an additional 866 shares in the last quarter. Kestra Private Wealth Services LLC lifted its stake in J. M. Smucker by 7.9% in the 4th quarter. Kestra Private Wealth Services LLC now owns 25,708 shares of the company's stock valued at $2,831,000 after acquiring an additional 1,892 shares in the last quarter. Finally, Kentucky Trust Co acquired a new position in J. M. Smucker during the 4th quarter worth approximately $28,000. 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.