J.M. Smucker Company (The) (NYSE:SJM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday, October 25th.
According to Zacks, “Smucker’s has underperformed the industry in the past six months due to unfavorable coffee volumes. Evidently, lower coffee volumes and increases in commodity costs and higher marketing expense marred the company’s first-quarter fiscal 2018 results, wherein both earnings and sales declined year over year. Also, management slashed its view for fiscal 2018, which raises concerns. However, the company has resorted to cost cuts amid the tough industry conditions to uplift its performance. It has also been undertaking strategic partnerships and acquisitions to boost its market share. Further, Smucker remains focused on making efforts to expand its e-commerce capabilities in its pet business. Though the company remains keen on improving the performance of the mainstream dog and cat brands, stiff competition in the pet food business remains a hurdle. Nonetheless, estimates have trended upward lately, ahead of Smucker’s earnings.”
Other equities research analysts also recently issued reports about the company. Morgan Stanley reiterated an “underweight” rating and issued a $114.00 price objective (down from $126.00) on shares of J.M. Smucker Company (The) in a report on Tuesday, July 18th. Deutsche Bank AG reiterated a “hold” rating and issued a $131.00 price objective (down from $135.00) on shares of J.M. Smucker Company (The) in a report on Thursday, July 13th. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $135.00 price objective (down from $137.00) on shares of J.M. Smucker Company (The) in a report on Wednesday, June 28th. Stephens downgraded J.M. Smucker Company (The) from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $165.00 to $125.00 in a report on Wednesday, July 19th. Finally, BidaskClub upgraded J.M. Smucker Company (The) from a “strong sell” rating to a “sell” rating in a report on Saturday, August 12th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. J.M. Smucker Company (The) currently has a consensus rating of “Hold” and a consensus target price of $123.73.
J.M. Smucker Company (NYSE SJM) traded up $1.52 on Wednesday, hitting $104.12. The stock had a trading volume of 901,100 shares, compared to its average volume of 1,099,477. The company has a current ratio of 0.97, a quick ratio of 0.41 and a debt-to-equity ratio of 0.64. The stock has a market cap of $11,653.78, a price-to-earnings ratio of 13.94, a PEG ratio of 2.01 and a beta of 0.62. J.M. Smucker Company has a 12-month low of $99.57 and a 12-month high of $143.68.
J.M. Smucker Company (The) (NYSE:SJM) last posted its quarterly earnings results on Thursday, August 24th. The company reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.61 by ($0.10). J.M. Smucker Company (The) had a return on equity of 12.06% and a net margin of 7.50%. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same period in the prior year, the firm earned $1.86 EPS. J.M. Smucker Company (The)’s revenue for the quarter was down 3.7% compared to the same quarter last year. equities analysts anticipate that J.M. Smucker Company will post 7.75 EPS for the current fiscal year.
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In related news, Director Gary A. Oatey acquired 1,000 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was bought at an average cost of $107.30 per share, for a total transaction of $107,300.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Richard K. Smucker acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The shares were bought at an average price of $105.40 per share, with a total value of $1,054,000.00. Following the completion of the purchase, the insider now owns 652,168 shares in the company, valued at approximately $68,738,507.20. The disclosure for this purchase can be found here. Insiders own 3.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of SJM. Sun Life Financial INC lifted its holdings in J.M. Smucker Company (The) by 10,512.5% in the 2nd quarter. Sun Life Financial INC now owns 849 shares of the company’s stock worth $100,000 after purchasing an additional 841 shares in the last quarter. Harbour Capital Advisors LLC purchased a new position in J.M. Smucker Company (The) in the 1st quarter worth approximately $126,000. Paradigm Asset Management Co. LLC lifted its holdings in J.M. Smucker Company (The) by 4.5% in the 2nd quarter. Paradigm Asset Management Co. LLC now owns 1,150 shares of the company’s stock worth $136,000 after purchasing an additional 50 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new position in J.M. Smucker Company (The) in the 3rd quarter worth approximately $201,000. Finally, Well Done LLC purchased a new position in J.M. Smucker Company (The) in the 3rd quarter worth approximately $201,000. 72.88% of the stock is currently owned by institutional investors.
About J.M. Smucker Company (The)
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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