J.M. Smucker Company (The) (SJM) Rating Increased to Long-term Buy at Hilliard Lyons

Hilliard Lyons upgraded shares of J.M. Smucker Company (The) (NYSE:SJM) from a neutral rating to a long-term buy rating in a research report report published on Tuesday, July 11th, MarketBeat reports. They currently have $140.00 target price on the stock. The analysts noted that the move was a valuation call.

A number of other equities research analysts have also recently issued reports on the stock. Credit Suisse Group reiterated a neutral rating and set a $120.00 target price (down previously from $126.00) on shares of J.M. Smucker Company (The) in a research report on Monday, July 3rd. They noted that the move was a valuation call. J P Morgan Chase & Co reiterated an overweight rating and set a $135.00 target price (down previously from $137.00) on shares of J.M. Smucker Company (The) in a research report on Wednesday, June 28th. Susquehanna Bancshares Inc set a $141.00 target price on shares of J.M. Smucker Company (The) and gave the stock a hold rating in a research report on Wednesday, June 7th. Zacks Investment Research upgraded shares of J.M. Smucker Company (The) from a sell rating to a hold rating in a research report on Friday, June 2nd. Finally, Citigroup Inc. dropped their target price on shares of J.M. Smucker Company (The) from $161.00 to $155.00 and set a buy rating for the company in a research report on Tuesday, May 9th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $132.82.

J.M. Smucker Company (NYSE SJM) traded up 0.46% on Tuesday, reaching $122.28. 448,769 shares of the company’s stock were exchanged. J.M. Smucker Company has a 12 month low of $114.31 and a 12 month high of $156.23. The firm has a market capitalization of $13.87 billion, a price-to-earnings ratio of 23.98 and a beta of 0.62. The firm has a 50-day moving average of $119.18 and a 200-day moving average of $128.73.

J.M. Smucker Company (The) (NYSE:SJM) last announced its quarterly earnings data on Thursday, June 8th. The company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.08. J.M. Smucker Company (The) had a net margin of 8.01% and a return on equity of 12.63%. The company had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the company posted $1.19 EPS. The business’s revenue was down 1.3% on a year-over-year basis. On average, equities analysts expect that J.M. Smucker Company will post $7.97 earnings per share for the current year.

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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 11th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Wednesday, August 9th. This is a positive change from J.M. Smucker Company (The)’s previous quarterly dividend of $0.75. J.M. Smucker Company (The)’s dividend payout ratio (DPR) is 61.18%.

In other news, SVP Jill R. Penrose sold 550 shares of the firm’s stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $120.09, for a total value of $66,049.50. Following the transaction, the senior vice president now owns 13,475 shares of the company’s stock, valued at approximately $1,618,212.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Barry C. Dunaway sold 9,433 shares of the firm’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $121.32, for a total transaction of $1,144,411.56. Following the completion of the transaction, the insider now directly owns 40,966 shares in the company, valued at approximately $4,969,995.12. The disclosure for this sale can be found here. Insiders sold a total of 16,030 shares of company stock worth $1,948,195 in the last ninety days. Insiders own 3.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cardinal Capital Management Inc. raised its position in J.M. Smucker Company (The) by 11.5% in the first quarter. Cardinal Capital Management Inc. now owns 99,665 shares of the company’s stock valued at $13,064,000 after buying an additional 10,260 shares during the last quarter. West Oak Capital LLC raised its position in J.M. Smucker Company (The) by 17.4% in the first quarter. West Oak Capital LLC now owns 8,105 shares of the company’s stock valued at $1,062,000 after buying an additional 1,200 shares during the last quarter. Smith Salley & Associates raised its position in J.M. Smucker Company (The) by 14.9% in the first quarter. Smith Salley & Associates now owns 1,992 shares of the company’s stock valued at $261,000 after buying an additional 259 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in J.M. Smucker Company (The) by 264.9% in the first quarter. BNP Paribas Arbitrage SA now owns 99,542 shares of the company’s stock valued at $13,048,000 after buying an additional 72,260 shares during the last quarter. Finally, Norinchukin Bank The raised its position in J.M. Smucker Company (The) by 7.1% in the first quarter. Norinchukin Bank The now owns 7,566 shares of the company’s stock valued at $992,000 after buying an additional 503 shares during the last quarter. 75.47% of the stock is currently owned by institutional investors and hedge funds.

About J.M. Smucker Company (The)

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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