Morgan Stanley Forecasts Strong Price Appreciation for J. M. Smucker (NYSE:SJM) Stock

J. M. Smucker (NYSE:SJM - Free Report) had its price objective raised by Morgan Stanley from $123.00 to $124.00 in a research report report published on Friday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

SJM has been the topic of several other reports. Wall Street Zen upgraded J. M. Smucker from a "sell" rating to a "hold" rating in a report on Friday, March 28th. Barclays reduced their price objective on J. M. Smucker from $123.00 to $119.00 and set an "equal weight" rating on the stock in a report on Monday, March 3rd. Citigroup cut their price target on J. M. Smucker from $129.00 to $128.00 and set a "buy" rating on the stock in a report on Monday, May 19th. Jefferies Financial Group reiterated a "hold" rating on shares of J. M. Smucker in a report on Wednesday, May 28th. Finally, UBS Group cut their price target on J. M. Smucker from $134.00 to $129.00 and set a "buy" rating on the stock in a report on Friday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, J. M. Smucker currently has an average rating of "Hold" and a consensus target price of $125.30.

J. M. Smucker Stock Performance

SJM traded down $0.42 during midday trading on Friday, reaching $110.62. The company had a trading volume of 1,532,504 shares, compared to its average volume of 1,141,383. The business has a 50-day moving average of $113.88 and a two-hundred day moving average of $111.24. The company has a quick ratio of 0.27, a current ratio of 0.58 and a debt-to-equity ratio of 0.89. J. M. Smucker has a 1 year low of $98.77 and a 1 year high of $125.42. The company has a market cap of $11.77 billion, a P/E ratio of 22.39, a P/E/G ratio of 3.91 and a beta of 0.35.

J. M. Smucker Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 3.91%. The ex-dividend date of this dividend was Friday, May 16th. J. M. Smucker's payout ratio is -179.25%.

Insiders Place Their Bets

In related news, CFO Tucker H. Marshall sold 5,028 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $113.36, for a total transaction of $569,974.08. Following the transaction, the chief financial officer now owns 13,263 shares of the company's stock, valued at $1,503,493.68. This trade represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jill R. Penrose sold 5,117 shares of J. M. Smucker stock in a transaction that occurred on Friday, March 28th. The shares were 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 position. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in J. M. Smucker by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 13,344,933 shares of the company's stock worth $1,469,544,000 after acquiring an additional 130,533 shares during the period. FMR LLC grew its stake in shares of J. M. Smucker by 11.3% during the 4th quarter. FMR LLC now owns 3,734,305 shares of the company's stock valued at $411,222,000 after buying an additional 380,309 shares during the period. Invesco Ltd. grew its stake in shares of J. M. Smucker by 8.6% during the 1st quarter. Invesco Ltd. now owns 2,623,254 shares of the company's stock valued at $310,620,000 after buying an additional 208,231 shares during the period. Geode Capital Management LLC grew its stake in shares of J. M. Smucker by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 2,609,952 shares of the company's stock valued at $286,664,000 after buying an additional 58,231 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of J. M. Smucker by 12.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,257,127 shares of the company's stock valued at $267,252,000 after buying an additional 248,110 shares during the period. 81.66% of the stock is currently owned by institutional investors and hedge funds.

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.