J. M. Smucker (NYSE:SJM) Given New $110.00 Price Target at Stifel Nicolaus

Key Points

• Stifel Nicolaus has raised its price target for J. M. Smucker from $106.00 to $110.00, maintaining a "hold" rating, indicating a potential upside of 0.60% from the current stock price.
• Multiple firms have adjusted their ratings on J. M. Smucker, with BNP Paribas raising it to "outperform" with a target price of $120.00, while Wells Fargo & Company lowered its target from $135.00 to $115.00.
• The company's quarterly earnings report showed an EPS of $2.31, surpassing estimates, despite a decline in revenue and a negative net margin of 14.10% year-over-year.

J. M. Smucker (NYSE:SJM - Get Free Report) had its price target hoisted by analysts at Stifel Nicolaus from $106.00 to $110.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a "hold" rating on the stock. Stifel Nicolaus' price target points to a potential upside of 1.70% from the stock's previous close.

Other equities analysts also recently issued research reports about the company. Royal Bank Of Canada initiated coverage on J. M. Smucker in a research report on Monday, July 7th. They set an "outperform" rating and a $130.00 target price for the company. Morgan Stanley restated an "overweight" rating and set a $124.00 target price (up previously from $123.00) on shares of J. M. Smucker in a research report on Friday, June 6th. BNP Paribas upgraded J. M. Smucker from a "strong sell" rating to a "strong-buy" rating in a research report on Wednesday, July 9th. Barclays cut their target price on J. M. Smucker from $119.00 to $105.00 and set an "equal weight" rating for the company in a research report on Wednesday, June 11th. Finally, UBS Group dropped their price target on J. M. Smucker from $134.00 to $129.00 and set a "buy" rating for the company in a report on Friday, June 6th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $117.67.

J. M. Smucker Stock Performance

NYSE:SJM traded up $0.82 during mid-day trading on Tuesday, hitting $108.16. 1,592,962 shares of the company's stock traded hands, compared to its average volume of 1,583,774. The firm has a 50 day moving average of $104.67 and a two-hundred day moving average of $108.61. J. M. Smucker has a 12 month low of $93.30 and a 12 month high of $125.42. The firm has a market capitalization of $11.52 billion, a price-to-earnings ratio of -9.36, a price-to-earnings-growth ratio of 8.29 and a beta of 0.31. The company has a current ratio of 0.81, a quick ratio of 0.35 and a debt-to-equity ratio of 1.16.

J. M. Smucker (NYSE:SJM - Get Free Report) last announced its earnings results on Tuesday, June 10th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.25 by $0.06. J. M. Smucker had a positive return on equity of 15.20% and a negative net margin of 14.10%. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the prior year, the company earned $2.66 EPS. The firm's revenue for the quarter was down 2.8% compared to the same quarter last year. On average, equities analysts forecast that J. M. Smucker will post 9.88 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Tarang Amin purchased 1,050 shares of J. M. Smucker stock in a transaction dated Thursday, June 12th. The shares were acquired at an average cost of $96.09 per share, for a total transaction of $100,894.50. Following the transaction, the director directly owned 3,825 shares of the company's stock, valued at approximately $367,544.25. This trade represents a 37.84% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.24% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SJM. Tortoise Investment Management LLC boosted its position in shares of J. M. Smucker by 87.0% in the 1st quarter. Tortoise Investment Management LLC now owns 215 shares of the company's stock worth $25,000 after purchasing an additional 100 shares during the last quarter. Nova Wealth Management Inc. bought a new position in J. M. Smucker during the second quarter worth about $25,000. AlphaQuest LLC bought a new position in J. M. Smucker during the second quarter worth about $26,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in J. M. Smucker during the fourth quarter worth about $27,000. Finally, Bank of Jackson Hole Trust lifted its holdings in J. M. Smucker by 104.5% during the second quarter. Bank of Jackson Hole Trust now owns 274 shares of the company's stock worth $27,000 after acquiring an additional 140 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors.

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.