J M Smucker (NYSE:SJM) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Friday.
According to Zacks, “Shares of Smucker have underperformed the industry in the past three months, which can be blamed on its fourth-quarter fiscal 2018 results wherein both top and bottom line missed the Zacks Consensus Estimate. The results were impacted by higher freight costs, which may weigh on its margins in near future as the company expects freight headwinds to linger into 2019. Also, its coffee, and International and Away from Home segments sales were hurt by lower net price realization. Although the above-mentioned hurdles persist, the company’s Uncrustable brand and K-Cup business are performing well with significant sales growth. Smucker’s recent acquisition of Ainsworth is likely to strengthen its pet’s snacks portfolio. It is also taking restructuring actionsto improve its e-commerce channel. Additionally, Smucker remains on track with its cost-saving initiative with $80 million savings expected to be realized in 2019.”
SJM has been the subject of a number of other research reports. Wells Fargo & Co set a $100.00 price target on shares of J M Smucker and gave the company a “hold” rating in a research note on Tuesday, June 5th. Susquehanna Bancshares set a $159.00 target price on shares of J M Smucker and gave the stock a “buy” rating in a research note on Sunday, June 3rd. Credit Suisse Group cut shares of J M Smucker from a “neutral” rating to a “sell” rating and set a $110.00 target price for the company. in a research note on Monday, April 16th. Citigroup cut their target price on shares of J M Smucker from $155.00 to $127.00 and set a “buy” rating for the company in a research note on Friday, June 8th. Finally, Jefferies Financial Group restated a “buy” rating and set a $135.00 target price on shares of J M Smucker in a research note on Thursday, March 22nd. Seven investment analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. J M Smucker currently has an average rating of “Hold” and an average price target of $123.23.
Shares of SJM stock opened at $111.74 on Friday. The firm has a market capitalization of $12.56 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 1.74 and a beta of 0.63. The company has a quick ratio of 0.68, a current ratio of 1.50 and a debt-to-equity ratio of 0.59. J M Smucker has a one year low of $96.13 and a one year high of $133.38.
J M Smucker (NYSE:SJM) last announced its quarterly earnings results on Thursday, June 7th. The company reported $1.93 EPS for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.25). The firm had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.80 billion. J M Smucker had a net margin of 18.19% and a return on equity of 12.20%. The business’s revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.80 EPS. equities research analysts predict that J M Smucker will post 8.48 earnings per share for the current fiscal year.
In other J M Smucker news, Chairman Timothy P. Smucker acquired 5,000 shares of the company’s stock in a transaction on Wednesday, June 13th. The stock was acquired at an average price of $106.09 per share, for a total transaction of $530,450.00. Following the purchase, the chairman now directly owns 557,802 shares of the company’s stock, valued at $59,177,214.18. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Jill R. Penrose sold 518 shares of J M Smucker stock in a transaction dated Wednesday, June 20th. The stock was sold at an average price of $106.27, for a total transaction of $55,047.86. Following the completion of the sale, the senior vice president now owns 10,537 shares of the company’s stock, valued at approximately $1,119,766.99. The disclosure for this sale can be found here. Insiders sold a total of 17,842 shares of company stock valued at $1,909,911 in the last quarter. Corporate insiders own 3.50% of the company’s stock.
A number of institutional investors have recently modified their holdings of SJM. PNC Financial Services Group Inc. raised its stake in J M Smucker by 290.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 963,047 shares of the company’s stock worth $119,426,000 after purchasing an additional 716,707 shares in the last quarter. BlackRock Inc. raised its stake in J M Smucker by 8.2% in the 1st quarter. BlackRock Inc. now owns 8,968,227 shares of the company’s stock worth $1,112,150,000 after purchasing an additional 680,394 shares in the last quarter. Prudential Financial Inc. raised its stake in J M Smucker by 246.9% in the 1st quarter. Prudential Financial Inc. now owns 787,547 shares of the company’s stock worth $97,664,000 after purchasing an additional 560,502 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in J M Smucker by 16.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,897,699 shares of the company’s stock worth $483,354,000 after purchasing an additional 540,638 shares in the last quarter. Finally, LSV Asset Management raised its stake in J M Smucker by 24.7% in the 1st quarter. LSV Asset Management now owns 2,594,643 shares of the company’s stock worth $321,761,000 after purchasing an additional 513,550 shares in the last quarter. Institutional investors and hedge funds own 79.21% of the company’s stock.
J M Smucker Company Profile
The J. M. Smucker Company manufactures and markets branded food and beverage products worldwide. It operates through U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Foodservice segments. The company primarily offers coffee, pet food products, pet snacks, peanut butter, fruit spreads, shortening and oils, baking mixes and ready-to-spread frostings, frozen sandwiches, flour and baking ingredients, juices and beverages, and portion control products.
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