J M Smucker (NYSE:SJM) Cut to Underperform at Credit Suisse Group

Credit Suisse Group downgraded shares of J M Smucker (NYSE:SJM) from a neutral rating to an underperform rating in a research note published on Wednesday, The Fly reports. The brokerage currently has $95.00 price objective on the stock, down from their prior price objective of $100.00.

Several other equities analysts have also weighed in on SJM. Wells Fargo & Co reissued a market perform rating and set a $107.00 price objective (down from $114.00) on shares of J M Smucker in a report on Wednesday, August 28th. TheStreet lowered J M Smucker from a b- rating to a c+ rating in a report on Tuesday, August 6th. Stifel Nicolaus reduced their price objective on J M Smucker from $120.00 to $110.00 and set a hold rating for the company in a report on Wednesday, August 28th. ValuEngine raised J M Smucker from a strong sell rating to a sell rating in a report on Thursday, October 10th. Finally, Bank of America reduced their price objective on J M Smucker from $128.00 to $122.00 and set a neutral rating for the company in a report on Wednesday, August 28th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. J M Smucker has an average rating of Hold and an average price target of $110.60.

NYSE SJM traded up $0.51 on Wednesday, hitting $105.00. 764,688 shares of the stock traded hands, compared to its average volume of 712,765. The business’s fifty day moving average is $107.19 and its two-hundred day moving average is $114.34. J M Smucker has a 12 month low of $91.32 and a 12 month high of $128.43. The firm has a market capitalization of $12.06 billion, a price-to-earnings ratio of 12.67, a PEG ratio of 3.41 and a beta of 0.41. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.26 and a current ratio of 0.70.

J M Smucker (NYSE:SJM) last announced its quarterly earnings data on Tuesday, August 27th. The company reported $1.58 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.17). J M Smucker had a net margin of 6.95% and a return on equity of 11.49%. The firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period last year, the company posted $1.78 earnings per share. J M Smucker’s revenue for the quarter was down 6.5% on a year-over-year basis. Analysts expect that J M Smucker will post 8.29 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Thursday, November 14th. J M Smucker’s payout ratio is currently 42.46%.

In other news, SVP Kevin G. Jackson sold 487 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $108.70, for a total value of $52,936.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark R. Belgya sold 750 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $110.00, for a total value of $82,500.00. Following the completion of the transaction, the chief financial officer now directly owns 53,442 shares of the company’s stock, valued at $5,878,620. The disclosure for this sale can be found here. Insiders sold 1,987 shares of company stock valued at $220,599 over the last ninety days. Corporate insiders own 3.70% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. 1 North Wealth Services LLC bought a new position in shares of J M Smucker in the third quarter worth $28,000. Guinness Asset Management Ltd boosted its holdings in shares of J M Smucker by 52.7% in the second quarter. Guinness Asset Management Ltd now owns 258 shares of the company’s stock worth $30,000 after acquiring an additional 89 shares during the period. Whitener Capital Management Inc. boosted its holdings in shares of J M Smucker by 52.4% in the second quarter. Whitener Capital Management Inc. now owns 291 shares of the company’s stock worth $33,000 after acquiring an additional 100 shares during the period. Stonebridge Capital Advisors LLC bought a new position in shares of J M Smucker in the second quarter worth $37,000. Finally, Whittier Trust Co. of Nevada Inc. bought a new position in shares of J M Smucker in the third quarter worth $42,000. 77.56% of the stock is owned by hedge funds and other institutional investors.

About J M Smucker

The J. M. Smucker Co engages in the manufacture and marketing of branded food and beverage products. It operates through the following segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The U. S. Retail Coffee segment includes the domestic sales of Folgers, Dunkin Donuts, and Cafe Bustelo branded coffee.

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Analyst Recommendations for J M Smucker (NYSE:SJM)

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