JPMorgan Chase & Co. Lowers J. M. Smucker (NYSE:SJM) Price Target to $120.00

J. M. Smucker (NYSE:SJM) had its price objective dropped by equities researchers at JPMorgan Chase & Co. from $130.00 to $120.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 15.27% from the stock’s current price.

SJM has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft reduced their target price on shares of J. M. Smucker from $117.00 to $97.00 and set a “hold” rating for the company in a report on Monday, March 30th. Sanford C. Bernstein cut their price objective on shares of J. M. Smucker from $145.00 to $134.00 and set an “outperform” rating for the company in a research report on Monday, May 4th. Wells Fargo & Company reduced their price objective on J. M. Smucker from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. Evercore started coverage on J. M. Smucker in a research report on Friday. They issued an “outperform” rating and a $117.00 target price on the stock. Finally, BNP Paribas Exane set a $125.00 target price on J. M. Smucker in a research note on Thursday, April 9th. Eleven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, J. M. Smucker currently has an average rating of “Hold” and a consensus price target of $116.47.

J. M. Smucker Stock Performance

NYSE SJM traded up $0.46 during trading on Tuesday, reaching $104.10. 86,384 shares of the company’s stock were exchanged, compared to its average volume of 2,016,274. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.84 and a quick ratio of 0.35. The business has a 50 day moving average price of $98.21 and a 200-day moving average price of $102.07. The stock has a market capitalization of $11.10 billion, a P/E ratio of -8.84, a PEG ratio of 4.04 and a beta of 0.25. J. M. Smucker has a fifty-two week low of $88.25 and a fifty-two week high of $119.39.

J. M. Smucker (NYSE:SJM) last released its quarterly earnings data on Thursday, February 26th. The company reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.11. The company had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.32 billion. J. M. Smucker had a positive return on equity of 15.94% and a negative net margin of 14.07%.The business’s revenue was up 7.0% on a year-over-year basis. During the same period last year, the firm posted $2.61 earnings per share. Sell-side analysts forecast that J. M. Smucker will post 9.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On J. M. Smucker

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UBS Group AG grew its holdings in shares of J. M. Smucker by 238.7% during the 4th quarter. UBS Group AG now owns 3,924,282 shares of the company’s stock worth $383,834,000 after purchasing an additional 2,765,559 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in J. M. Smucker by 15.6% during the first quarter. Dimensional Fund Advisors LP now owns 3,920,718 shares of the company’s stock worth $378,102,000 after purchasing an additional 528,418 shares during the period. Invesco Ltd. grew its stake in J. M. Smucker by 5.8% during the fourth quarter. Invesco Ltd. now owns 2,783,272 shares of the company’s stock worth $272,232,000 after buying an additional 151,872 shares in the last quarter. Morgan Stanley grew its stake in J. M. Smucker by 16.8% during the fourth quarter. Morgan Stanley now owns 2,486,596 shares of the company’s stock worth $243,214,000 after buying an additional 357,253 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings in J. M. Smucker by 13.8% in the 3rd quarter. ProShare Advisors LLC now owns 1,562,259 shares of the company’s stock valued at $169,661,000 after buying an additional 188,868 shares during the period. 81.66% of the stock is owned by institutional investors and hedge funds.

J. M. Smucker Company Profile

The J. M. Smucker Company is a diversified food and beverage manufacturer and marketer known for a portfolio of well-established consumer brands. The company’s main business activities include the production and distribution of fruit spreads, peanut butter, coffee and coffee filters, as well as pet food and pet snacks. Smucker’s core product lines serve both retail and foodservice customers through grocery chains, mass merchandisers, club stores, convenience outlets and e-commerce channels.

Among its leading brands are Smucker’s® fruit spreads, Jif® peanut butter, Folgers® and Dunkin’® coffees, and Café Bustelo® coffee.