Wells Fargo & Company Increases J. M. Smucker (NYSE:SJM) Price Target to $135.00

J. M. Smucker (NYSE:SJM) had its price objective upped by Wells Fargo & Company from $130.00 to $135.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

SJM has been the subject of a number of other reports. BNP Paribas raised J. M. Smucker to a “strong sell” rating in a research report on Thursday, August 29th. DA Davidson restated a “neutral” rating and issued a $121.00 price objective on shares of J. M. Smucker in a report on Thursday, August 29th. Bank of America dropped their target price 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, August 29th. Citigroup reduced their price target on shares of J. M. Smucker from $138.00 to $136.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Finally, Stifel Nicolaus downgraded shares of J. M. Smucker from a “buy” rating to a “hold” rating and dropped their price objective for the company from $135.00 to $125.00 in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, J. M. Smucker currently has a consensus rating of “Hold” and a consensus price target of $128.00.

J. M. Smucker Trading Up 0.0 %

NYSE SJM opened at $118.02 on Wednesday. The stock has a market cap of $12.56 billion, a PE ratio of 23.89, a PEG ratio of 3.29 and a beta of 0.25. J. M. Smucker has a 12 month low of $105.69 and a 12 month high of $134.62. The company’s 50-day moving average price is $116.36 and its 200-day moving average price is $115.62. The company has a current ratio of 0.58, a quick ratio of 0.25 and a debt-to-equity ratio of 0.89.

J. M. Smucker (NYSE:SJM) last issued its earnings results on Tuesday, November 26th. The company reported $2.76 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.27. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.35%. The business had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the prior year, the firm earned $2.59 EPS. The company’s revenue for the quarter was up 17.2% compared to the same quarter last year. Equities research analysts forecast that J. M. Smucker will post 9.85 earnings per share for the current year.

J. M. Smucker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be paid a $1.08 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.32 annualized dividend and a yield of 3.66%. J. M. Smucker’s dividend payout ratio (DPR) is 87.45%.

Hedge Funds Weigh In On J. M. Smucker

Large investors have recently made changes to their positions in the business. Studio Investment Management LLC purchased a new stake in J. M. Smucker in the second quarter valued at about $26,000. Venturi Wealth Management LLC raised its position in shares of J. M. Smucker by 1,329.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 243 shares of the company’s stock valued at $29,000 after purchasing an additional 226 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new stake in J. M. Smucker in the 3rd quarter worth approximately $39,000. Quarry LP grew its position in J. M. Smucker by 212.6% during the 2nd quarter. Quarry LP now owns 322 shares of the company’s stock worth $35,000 after purchasing an additional 219 shares during the last quarter. Finally, Eastern Bank acquired a new position in J. M. Smucker during the 3rd quarter valued at approximately $40,000. 81.66% of the stock is owned by institutional investors and hedge funds.

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.