J M Smucker (NYSE:SJM) Raised to Sell at ValuEngine

ValuEngine upgraded shares of J M Smucker (NYSE:SJM) from a strong sell rating to a sell rating in a research report report published on Thursday, ValuEngine reports.

SJM has been the topic of a number of other reports. Bank of America dropped their price objective on shares of J M Smucker from $128.00 to $122.00 and set a neutral rating on the stock in a research report on Wednesday, August 28th. Citigroup lowered their target price on shares of J M Smucker from $142.00 to $132.00 and set a buy rating for the company in a report on Thursday, August 29th. Wells Fargo & Co restated a market perform rating and issued a $107.00 target price (down previously from $114.00) on shares of J M Smucker in a report on Wednesday, August 28th. Guggenheim lowered their target price on shares of J M Smucker from $99.00 to $93.00 and set a sell rating for the company in a report on Wednesday, August 28th. Finally, Stifel Nicolaus lowered their target price on shares of J M Smucker from $120.00 to $110.00 and set a hold rating for the company in a report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $116.70.

SJM traded down $0.12 during trading hours on Thursday, hitting $106.90. 419,207 shares of the company’s stock were exchanged, compared to its average volume of 608,311. J M Smucker has a 12-month low of $91.32 and a 12-month high of $128.43. The firm has a 50 day moving average of $107.41 and a 200 day moving average of $116.26. The firm has a market cap of $12.21 billion, a P/E ratio of 12.90, a price-to-earnings-growth ratio of 3.45 and a beta of 0.43. The company has a current ratio of 0.70, a quick ratio of 0.26 and a debt-to-equity ratio of 0.60.

J M Smucker (NYSE:SJM) last announced its quarterly earnings data on Tuesday, August 27th. The company reported $1.58 EPS for the quarter, missing the Zacks’ 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 during the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the prior year, the company posted $1.78 earnings per share. The company’s revenue for the quarter was down 6.5% on a year-over-year basis. As a group, research analysts expect that J M Smucker will post 8.37 EPS for the current fiscal year.

In other J M Smucker news, SVP Geoff E. Tanner purchased 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was purchased at an average price of $103.42 per share, for a total transaction of $103,420.00. Following the purchase, the senior vice president now directly owns 14,063 shares in the company, valued at $1,454,395.46. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kevin G. Jackson sold 487 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $108.70, for a total transaction of $52,936.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,937 shares of company stock valued at $554,775. Company insiders own 3.70% of the company’s stock.

A number of large investors have recently modified their holdings of SJM. Guinness Asset Management Ltd boosted its stake in J M Smucker by 52.7% during the 2nd quarter. Guinness Asset Management Ltd now owns 258 shares of the company’s stock worth $30,000 after purchasing an additional 89 shares during the period. Whitener Capital Management Inc. boosted its stake in J M Smucker by 52.4% during the 2nd quarter. Whitener Capital Management Inc. now owns 291 shares of the company’s stock worth $33,000 after purchasing an additional 100 shares during the period. Alera Investment Advisors LLC acquired a new stake in J M Smucker during the 1st quarter worth $35,000. Stonebridge Capital Advisors LLC acquired a new stake in J M Smucker during the 2nd quarter worth $37,000. Finally, Perkins Coie Trust Co acquired a new stake in J M Smucker during the 2nd quarter worth $45,000. Hedge funds and other institutional investors own 77.46% of the company’s stock.

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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