J M Smucker’s (SJM) Neutral Rating Reiterated at Credit Suisse Group AG
J M Smucker Co (NYSE:SJM)‘s stock had its “neutral” rating reissued by equities research analysts at Credit Suisse Group AG in a report issued on Friday. They presently have a $126.00 price objective on the stock, down from their prior price objective of $138.00. Credit Suisse Group AG’s target price suggests a potential upside of 0.08% from the stock’s current price.
Other equities research analysts also recently issued reports about the stock. Susquehanna Bancshares Inc reissued a “neutral” rating and set a $132.00 target price (down from $135.00) on shares of J M Smucker in a research report on Tuesday, April 25th. Zacks Investment Research downgraded shares of J M Smucker from a “hold” rating to a “sell” rating in a research report on Monday, May 8th. Morgan Stanley downgraded shares of J M Smucker from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $132.00 to $126.00 in a research report on Monday, April 10th. Jefferies Group LLC reissued a “hold” rating and set a $130.00 target price on shares of J M Smucker in a research report on Wednesday, April 26th. Finally, Citigroup Inc decreased their target price on shares of J M Smucker from $161.00 to $155.00 and set a “buy” rating for the company in a research report on Tuesday, May 9th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $136.27.
J M Smucker (NYSE:SJM) opened at 126.01 on Friday. The stock’s 50 day moving average is $127.03 and its 200-day moving average is $131.39. The firm has a market capitalization of $14.67 billion, a P/E ratio of 21.94 and a beta of 0.54. J M Smucker has a 1-year low of $122.05 and a 1-year high of $157.31.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Friday, May 12th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is Wednesday, May 10th. J M Smucker’s dividend payout ratio (DPR) is presently 48.86%.
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In other news, Director Jay L. Henderson purchased 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 7th. The shares were acquired at an average cost of $139.87 per share, for a total transaction of $419,610.00. Following the completion of the acquisition, the director now owns 3,000 shares in the company, valued at $419,610. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.50% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in J M Smucker by 2,899.4% in the first quarter. BlackRock Inc. now owns 7,583,056 shares of the company’s stock worth $993,987,000 after buying an additional 7,330,233 shares during the last quarter. Norges Bank bought a new position in J M Smucker during the fourth quarter worth $138,979,000. FMR LLC boosted its position in J M Smucker by 49.4% in the first quarter. FMR LLC now owns 2,009,137 shares of the company’s stock worth $263,357,000 after buying an additional 664,514 shares during the last quarter. Vanguard Group Inc. boosted its position in J M Smucker by 3.7% in the first quarter. Vanguard Group Inc. now owns 11,943,550 shares of the company’s stock worth $1,565,560,000 after buying an additional 420,604 shares during the last quarter. Finally, Seizert Capital Partners LLC bought a new position in J M Smucker during the first quarter worth $50,982,000. Hedge funds and other institutional investors own 75.27% 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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