J.M. Smucker (NYSE:SJM) was downgraded by analysts at Goldman Sachs Group Inc. from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, Analyst Ratings Network reports. They currently have a $110.00 price target on the stock, down from their previous price target of $123.00. Goldman Sachs Group Inc.’s price objective would indicate a potential upside of 8.39% from the company’s current price.
The analysts wrote, “We are downgrading SJM to Neutral from Overweight and lowering our December 2014 price target to $110 from $123. We previously believed the tailwind of lower green coffee costs would more than offset top line issues, at least for the next few quarters, but we under-estimated the power of current revenue headwinds across packaged food. Thus, while we continue to view SJM as a well-managed company in solid categories, with center store trends struggling across food and Street earnings estimates perhaps too high, we think a Neutral rating is appropriate.”
Shares of J.M. Smucker (NYSE:SJM) opened at 101.49 on Thursday. J.M. Smucker has a 52 week low of $84.57 and a 52 week high of $114.72. The stock’s 50-day moving average is $108.1 and its 200-day moving average is $106.5. The company has a market cap of $10.669 billion and a P/E ratio of 19.53.
J.M. Smucker (NYSE:SJM) last released its earnings data on Wednesday, November 20th. The company reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by $0.08. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the company posted $1.45 earnings per share. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, analysts predict that J.M. Smucker will post $5.84 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, December 2nd. Shareholders of record on Friday, November 15th will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Wednesday, November 13th.
Several other analysts have also recently commented on the stock. Analysts at JPMorgan Chase & Co. downgraded shares of J.M. Smucker from an “overweight” rating to a “neutral” rating in a research note to investors on Thursday. Separately, analysts at Wells Fargo & Co. reiterated a “market perform” rating on shares of J.M. Smucker in a research note to investors on Wednesday. Finally, analysts at Credit Suisse initiated coverage on shares of J.M. Smucker in a research note to investors on Wednesday, November 13th. They set a “neutral” rating and a $115.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $113.78.
The J. M. Smucker Company operates principally in the manufacturing and marketing of branded food products on a worldwide basis.
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