J M Smucker Co (SJM) Upgraded at Hilliard Lyons
J M Smucker Co (NYSE:SJM) was upgraded by equities research analysts at Hilliard Lyons from an “underperform” rating to a “neutral” rating in a report released on Thursday.
SJM has been the topic of several other reports. Citigroup Inc. reaffirmed a “buy” rating on shares of J M Smucker in a research note on Thursday, August 25th. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $158.00 price objective on shares of J M Smucker in a research note on Wednesday, August 24th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $143.00 price objective (up from $137.00) on shares of J M Smucker in a research note on Friday, June 3rd. Zacks Investment Research lowered J M Smucker from a “buy” rating to a “hold” rating in a research note on Wednesday, August 10th. Finally, Jefferies Group lowered J M Smucker from a “buy” rating to a “hold” rating and lifted their price objective for the company from $140.00 to $143.00 in a research note on Friday, June 10th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $148.10.
J M Smucker (NYSE:SJM) traded up 0.81% during midday trading on Thursday, hitting $137.43. The stock had a trading volume of 89,611 shares. The company has a market cap of $16.00 billion, a price-to-earnings ratio of 22.60 and a beta of 0.47. J M Smucker has a 12-month low of $106.87 and a 12-month high of $157.31. The company has a 50-day moving average price of $145.07 and a 200-day moving average price of $138.64.
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J M Smucker (NYSE:SJM) last released its quarterly earnings data on Tuesday, August 23rd. The company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.12. The business had revenue of $1.82 billion for the quarter. J M Smucker had a return on equity of 11.76% and a net margin of 9.41%. The business’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.32 earnings per share. Equities analysts anticipate that J M Smucker will post $7.69 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Friday, August 12th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Wednesday, August 10th. This is an increase from J M Smucker’s previous quarterly dividend of $0.67. This represents a $3.00 annualized dividend and a yield of 2.20%. J M Smucker’s payout ratio is currently 49.26%.
In other J M Smucker news, Director David J. West sold 865 shares of J M Smucker stock in a transaction that occurred on Friday, June 24th. The stock was sold at an average price of $145.65, for a total transaction of $125,987.25. Following the sale, the director now directly owns 206,790 shares in the company, valued at approximately $30,118,963.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.50% of the company’s stock.
Large investors have recently bought and sold shares of the company. Evercore Wealth Management LLC increased its stake in J M Smucker by 1.8% in the second quarter. Evercore Wealth Management LLC now owns 4,369 shares of the company’s stock valued at $666,000 after buying an additional 78 shares in the last quarter. Macquarie Group Ltd. increased its stake in shares of J M Smucker by 127.0% in the second quarter. Macquarie Group Ltd. now owns 31,029 shares of the company’s stock worth $4,729,000 after buying an additional 17,360 shares during the period. Williams Jones & Associates LLC increased its stake in shares of J M Smucker by 93.8% in the second quarter. Williams Jones & Associates LLC now owns 2,955 shares of the company’s stock worth $450,000 after buying an additional 1,430 shares during the period. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of J M Smucker during the second quarter worth $736,000. Finally, Kentucky Retirement Systems purchased a new stake in shares of J M Smucker during the second quarter worth $1,551,000. Institutional investors own 75.66% of the company’s stock.
About J M Smucker
The J. M. Smucker Company is a manufacturer and marketer of branded food and beverage products and pet food and pet snacks in North America. The Company’s segments include U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Foodservice. The Company’s U.S. retail market segments consist of the sale of branded food products to consumers through retail outlets in North America.
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