J.M. Smucker Co. (SJM) PT Set at $134.00 by Credit Suisse Group AG
J.M. Smucker Co. (NYSE:SJM) received a $134.00 price target from equities researchers at Credit Suisse Group AG in a note issued to investors on Friday. The brokerage presently has a “hold” rating on the stock. Credit Suisse Group AG’s price target would suggest a potential upside of 5.96% from the stock’s current price.
The analysts wrote, “We expect retailers to increase their inventory on Smucker’s coffee brands and Nature’s Recipe in the back half of the fiscal year in response to these initiatives, but we do not think they will be enough to spur the 2-3% organic growth that management guidance implies. In addition, we fear that elasticity of demand in coffee and continued weakness in Smucker’s core pet brands will lead to weaker-than-expected growth in fiscal 2018. We are raising our fiscal 2017 EPS to $7.67 (from $7.64) because we think the company has sufficient cost savings for the year, but lowering our fiscal 2018 EPS estimate to $8.05 (compared to consensus of $8.17) and lowering our target price to $134/share (from $138).””
Several other research analysts also recently commented on SJM. Zacks Investment Research upgraded J.M. Smucker from a “sell” rating to a “hold” rating in a report on Wednesday, November 16th. Deutsche Bank AG reaffirmed a “buy” rating and set a $162.00 target price (up previously from $150.00) on shares of J.M. Smucker in a research report on Monday, November 14th. Morgan Stanley reaffirmed a “hold” rating and set a $142.00 target price on shares of J.M. Smucker in a research report on Wednesday, August 24th. Susquehanna reaffirmed a “hold” rating and set a $139.00 target price on shares of J.M. Smucker in a research report on Tuesday, September 6th. Finally, Jefferies Group dropped their target price on J.M. Smucker from $143.00 to $135.00 and set a “hold” rating on the stock in a research report on Wednesday, October 12th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. J.M. Smucker has an average rating of “Hold” and a consensus price target of $144.60.
Shares of J.M. Smucker (NYSE:SJM) opened at 126.46 on Friday. The company’s 50-day moving average price is $130.83 and its 200-day moving average price is $139.71. The stock has a market cap of $14.72 billion, a PE ratio of 20.62 and a beta of 0.56. J.M. Smucker has a 52-week low of $117.36 and a 52-week high of $157.31.
J.M. Smucker (NYSE:SJM) last released its quarterly earnings data on Thursday, November 17th. The company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.93 by $0.12. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $2 billion. J.M. Smucker had a return on equity of 12.41% and a net margin of 9.63%. J.M. Smucker’s quarterly revenue was down 7.9% on a year-over-year basis. During the same period last year, the business posted $1.62 EPS. On average, equities research analysts forecast that J.M. Smucker will post $7.69 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Friday, November 11th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $3.00 dividend on an annualized basis and a yield of 2.37%. J.M. Smucker’s dividend payout ratio is currently 48.86%.
A number of hedge funds have recently modified their holdings of the company. Kanawha Capital Management LLC boosted its stake in shares of J.M. Smucker by 0.4% in the second quarter. Kanawha Capital Management LLC now owns 2,008 shares of the company’s stock worth $306,000 after buying an additional 8 shares in the last quarter. Cypress Wealth Advisors LLC raised its position in J.M. Smucker by 0.5% in the second quarter. Cypress Wealth Advisors LLC now owns 2,072 shares of the company’s stock worth $316,000 after buying an additional 10 shares during the last quarter. Bbva Compass Bancshares Inc. raised its position in J.M. Smucker by 0.4% in the second quarter. Bbva Compass Bancshares Inc. now owns 3,196 shares of the company’s stock worth $487,000 after buying an additional 12 shares during the last quarter. Eqis Capital Management Inc. raised its position in J.M. Smucker by 0.4% in the second quarter. Eqis Capital Management Inc. now owns 4,166 shares of the company’s stock worth $635,000 after buying an additional 18 shares during the last quarter. Finally, OLD Dominion Capital Management Inc. raised its position in J.M. Smucker by 0.4% in the second quarter. OLD Dominion Capital Management Inc. now owns 5,914 shares of the company’s stock worth $901,000 after buying an additional 21 shares during the last quarter. 76.15% of the stock is owned by institutional investors.
About J.M. Smucker
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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