J. M. Smucker (NYSE:SJM) Given New $136.00 Price Target at Citigroup

J. M. Smucker (NYSE:SJM) had its price target decreased by Citigroup from $138.00 to $136.00 in a report issued on Thursday, Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other analysts have also commented on the company. DA Davidson reaffirmed a neutral rating and issued a $121.00 target price on shares of J. M. Smucker in a research report on Thursday. TD Cowen lowered their price target on J. M. Smucker from $135.00 to $132.00 and set a buy rating for the company in a research report on Thursday. StockNews.com raised shares of J. M. Smucker from a sell rating to a hold rating in a research report on Thursday. Bank of America cut their price target on shares of J. M. Smucker from $130.00 to $122.00 and set a neutral rating on the stock in a report on Thursday. Finally, Wells Fargo & Company dropped their price objective on J. M. Smucker from $140.00 to $130.00 and set an overweight rating on the stock in a research note on Thursday. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Hold and a consensus price target of $129.46.

J. M. Smucker Price Performance

Shares of SJM opened at $113.79 on Thursday. The stock has a market cap of $12.08 billion, a PE ratio of 15.98, a PEG ratio of 2.42 and a beta of 0.25. The company has a quick ratio of 0.25, a current ratio of 0.52 and a debt-to-equity ratio of 0.88. The business has a 50-day simple moving average of $115.92 and a two-hundred day simple moving average of $116.80. J. M. Smucker has a 12-month low of $105.69 and a 12-month high of $146.29.

J. M. Smucker (NYSE:SJM) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.18 by $0.26. J. M. Smucker had a return on equity of 14.15% and a net margin of 9.10%. The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period last year, the company earned $2.21 earnings per share. The firm’s revenue was up 17.7% compared to the same quarter last year. Analysts anticipate that J. M. Smucker will post 10.05 earnings per share for the current fiscal year.

J. M. Smucker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 16th will be given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 3.80%. This is a boost from J. M. Smucker’s previous quarterly dividend of $1.06. The ex-dividend date of this dividend is Friday, August 16th. J. M. Smucker’s payout ratio is presently 60.67%.

Insider Buying and Selling

In other news, CEO Mark T. Smucker sold 10,000 shares of the stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $110.16, for a total transaction of $1,101,600.00. Following the transaction, the chief executive officer now directly owns 78,757 shares in the company, valued at approximately $8,675,871.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.40% of the stock is owned by company insiders.

Institutional Trading of J. M. Smucker

Several hedge funds have recently added to or reduced their stakes in the business. Sound View Wealth Advisors Group LLC increased its stake in J. M. Smucker by 1.6% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 5,281 shares of the company’s stock worth $667,000 after purchasing an additional 81 shares during the period. Tradition Wealth Management LLC lifted its position in shares of J. M. Smucker by 7.3% in the 4th quarter. Tradition Wealth Management LLC now owns 1,217 shares of the company’s stock worth $154,000 after purchasing an additional 83 shares during the period. Czech National Bank lifted its holdings in J. M. Smucker by 0.5% in the first quarter. Czech National Bank now owns 18,676 shares of the company’s stock worth $2,351,000 after buying an additional 88 shares during the period. Resonant Capital Advisors LLC lifted its stake in shares of J. M. Smucker by 0.7% in the 1st quarter. Resonant Capital Advisors LLC now owns 14,328 shares of the company’s stock valued at $1,803,000 after purchasing an additional 93 shares during the period. Finally, First National Trust Co boosted its holdings in shares of J. M. Smucker by 4.9% during the 4th quarter. First National Trust Co now owns 2,110 shares of the company’s stock valued at $267,000 after buying an additional 99 shares in the last quarter. 81.66% of the stock is 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.