J. M. Smucker (NYSE:SJM) Upgraded at BNP Paribas

BNP Paribas upgraded shares of J. M. Smucker (NYSE:SJM) from a strong sell rating to a strong-buy rating in a report released on Wednesday,Zacks.com reports.

Other analysts have also issued reports about the stock. Wall Street Zen raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Friday, March 28th. Bank of America decreased their price target on shares of J. M. Smucker from $118.00 to $105.00 and set a “neutral” rating for the company in a research report on Wednesday, June 11th. Jefferies Financial Group raised shares of J. M. Smucker from a “hold” rating to a “buy” rating and decreased their price target for the company from $118.00 to $115.00 in a research report on Wednesday, June 11th. Morgan Stanley restated an “overweight” rating and set a $124.00 price objective (up previously from $123.00) on shares of J. M. Smucker in a report on Friday, June 6th. Finally, Stifel Nicolaus cut their price objective on shares of J. M. Smucker from $120.00 to $106.00 and set a “hold” rating on the stock in a report on Wednesday, June 11th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, J. M. Smucker currently has an average rating of “Moderate Buy” and an average price target of $117.33.

J. M. Smucker Stock Up 0.1%

NYSE:SJM opened at $104.75 on Wednesday. J. M. Smucker has a 1-year low of $93.30 and a 1-year high of $125.42. The company has a 50-day moving average of $106.02 and a 200 day moving average of $108.66. The firm has a market cap of $11.16 billion, a PE ratio of -9.06, a price-to-earnings-growth ratio of 7.89 and a beta of 0.31. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.35.

J. M. Smucker (NYSE:SJM) last released its quarterly earnings data on Tuesday, June 10th. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.25 by $0.06. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.18 billion. J. M. Smucker had a negative net margin of 14.10% and a positive return on equity of 15.20%. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.66 earnings per share. As a group, research analysts anticipate that J. M. Smucker will post 9.88 EPS for the current fiscal year.

J. M. Smucker Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were issued a $1.08 dividend. The ex-dividend date was Friday, May 16th. This represents a $4.32 annualized dividend and a yield of 4.12%. J. M. Smucker’s dividend payout ratio (DPR) is presently -37.37%.

Insiders Place Their Bets

In other J. M. Smucker news, Director Tarang Amin purchased 1,050 shares of the business’s stock in a transaction that occurred on Thursday, June 12th. The shares were bought at an average price of $96.09 per share, for a total transaction of $100,894.50. Following the acquisition, the director owned 3,825 shares in the company, valued at $367,544.25. This represents a 37.84% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.24% of the company’s stock.

Hedge Funds Weigh In On J. M. Smucker

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC increased its holdings in J. M. Smucker by 107.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 6,054 shares of the company’s stock worth $594,000 after buying an additional 3,131 shares during the period. Silver Oak Securities Incorporated purchased a new stake in J. M. Smucker in the 2nd quarter worth approximately $304,000. Assenagon Asset Management S.A. boosted its position in J. M. Smucker by 58.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 100,894 shares of the company’s stock worth $9,908,000 after purchasing an additional 37,382 shares in the last quarter. IFM Investors Pty Ltd boosted its position in J. M. Smucker by 5.0% in the 2nd quarter. IFM Investors Pty Ltd now owns 21,970 shares of the company’s stock worth $2,157,000 after purchasing an additional 1,039 shares in the last quarter. Finally, Oliver Lagore Vanvalin Investment Group purchased a new stake in J. M. Smucker in the 2nd quarter worth approximately $39,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

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.