J. M. Smucker (NYSE:SJM) Given New $115.00 Price Target at Wells Fargo & Company

J. M. Smucker (NYSE:SJM) had its price target reduced by equities researchers at Wells Fargo & Company from $135.00 to $115.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 21.93% from the company’s current price.

Several other equities analysts also recently commented on SJM. Barclays lowered their price objective on shares of J. M. Smucker from $123.00 to $119.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. Stifel Nicolaus set a $120.00 price objective on shares of J. M. Smucker in a research report on Tuesday. Wall Street Zen raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Friday, March 28th. UBS Group decreased their target price on J. M. Smucker from $134.00 to $129.00 and set a “buy” rating for the company in a research report on Friday, June 6th. Finally, DA Davidson lowered their price objective on J. M. Smucker from $122.00 to $120.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $122.55.

J. M. Smucker Stock Performance

Shares of NYSE SJM opened at $94.32 on Wednesday. The stock’s 50-day moving average is $113.27 and its 200 day moving average is $111.09. The stock has a market cap of $10.04 billion, a price-to-earnings ratio of 19.09, a P/E/G ratio of 3.91 and a beta of 0.35. J. M. Smucker has a 1-year low of $93.93 and a 1-year high of $125.42. The company has a current ratio of 0.58, a quick ratio of 0.27 and a debt-to-equity ratio of 0.89.

J. M. Smucker (NYSE:SJM) last posted its quarterly earnings results on Tuesday, June 10th. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.25 by $0.06. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.35%. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same period last year, the firm posted $2.66 earnings per share. The business’s revenue was down 2.8% compared to the same quarter last year. On average, sell-side analysts anticipate that J. M. Smucker will post 9.88 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Tucker H. Marshall sold 5,028 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $113.36, for a total transaction of $569,974.08. Following the transaction, the chief financial officer now owns 13,263 shares in the company, valued at $1,503,493.68. This represents a 27.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jill R. Penrose sold 5,117 shares of J. M. Smucker stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $116.26, for a total transaction of $594,902.42. Following the completion of the sale, the insider now directly owns 8,794 shares of the company’s stock, valued at approximately $1,022,390.44. This trade represents a 36.78% decrease in their position. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On J. M. Smucker

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in J. M. Smucker by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 13,344,933 shares of the company’s stock valued at $1,469,544,000 after acquiring an additional 130,533 shares during the period. FMR LLC increased its position in shares of J. M. Smucker by 11.3% during the 4th quarter. FMR LLC now owns 3,734,305 shares of the company’s stock valued at $411,222,000 after purchasing an additional 380,309 shares during the last quarter. Invesco Ltd. lifted its stake in shares of J. M. Smucker by 8.6% in the 1st quarter. Invesco Ltd. now owns 2,623,254 shares of the company’s stock worth $310,620,000 after purchasing an additional 208,231 shares during the period. Geode Capital Management LLC lifted its stake in shares of J. M. Smucker by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 2,609,952 shares of the company’s stock worth $286,664,000 after purchasing an additional 58,231 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of J. M. Smucker by 12.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,257,127 shares of the company’s stock worth $267,252,000 after buying an additional 248,110 shares during the last quarter. 81.66% of the stock is owned by institutional investors.

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.