J.M. Smucker Company (The) (SJM) Hits New 52-Week Low at $102.83

J.M. Smucker Company (The) (NYSE:SJM) reached a new 52-week low on Monday . The company traded as low as $102.83 and last traded at $102.87, with a volume of 1,329,315 shares changing hands. The stock had previously closed at $104.24.

A number of research firms have recently weighed in on SJM. Citigroup Inc. lowered their target price on J.M. Smucker Company (The) from $155.00 to $133.00 and set a “buy” rating for the company in a research note on Friday, August 25th. Zacks Investment Research raised J.M. Smucker Company (The) from a “sell” rating to a “hold” rating in a research note on Friday, September 22nd. Susquehanna Bancshares Inc set a $131.00 target price on J.M. Smucker Company (The) and gave the company a “hold” rating in a research note on Wednesday, August 23rd. Deutsche Bank AG reissued a “hold” rating and issued a $131.00 target price (down previously from $135.00) on shares of J.M. Smucker Company (The) in a research note on Thursday, July 13th. Finally, Jefferies Group LLC raised J.M. Smucker Company (The) from a “hold” rating to a “buy” rating and boosted their target price for the company from $130.00 to $140.00 in a research note on Friday, July 28th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $126.73.

The company has a market capitalization of $11.78 billion, a P/E ratio of 21.78 and a beta of 0.62. The firm’s 50 day moving average price is $106.80 and its 200-day moving average price is $119.92.

J.M. Smucker Company (The) (NYSE:SJM) last announced its quarterly earnings results on Thursday, August 24th. The company reported $1.51 EPS for the quarter, missing the Zacks’ consensus estimate of $1.61 by ($0.10). J.M. Smucker Company (The) had a net margin of 7.50% and a return on equity of 12.06%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the previous year, the business posted $1.86 EPS. The firm’s revenue was down 3.7% on a year-over-year basis. On average, equities research analysts expect that J.M. Smucker Company will post $7.74 earnings per share for the current year.

In other news, insider Richard K. Smucker acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was acquired at an average price of $105.40 per share, with a total value of $1,054,000.00. Following the completion of the purchase, the insider now directly owns 652,168 shares in the company, valued at $68,738,507.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gary A. Oatey acquired 1,000 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was purchased at an average cost of $107.30 per share, with a total value of $107,300.00. The disclosure for this purchase can be found here. 3.50% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in SJM. Stifel Financial Corp lifted its stake in J.M. Smucker Company (The) by 13.1% in the first quarter. Stifel Financial Corp now owns 367,479 shares of the company’s stock worth $48,048,000 after purchasing an additional 42,464 shares during the last quarter. ARS Investment Partners LLC lifted its stake in J.M. Smucker Company (The) by 2.0% in the first quarter. ARS Investment Partners LLC now owns 7,382 shares of the company’s stock worth $968,000 after purchasing an additional 145 shares during the last quarter. Clinton Group Inc. lifted its stake in J.M. Smucker Company (The) by 1,778.1% in the first quarter. Clinton Group Inc. now owns 119,879 shares of the company’s stock worth $15,714,000 after purchasing an additional 113,496 shares during the last quarter. Hunter Associates Investment Management LLC lifted its stake in J.M. Smucker Company (The) by 30.7% in the first quarter. Hunter Associates Investment Management LLC now owns 2,343 shares of the company’s stock worth $307,000 after purchasing an additional 550 shares during the last quarter. Finally, Cipher Capital LP bought a new stake in J.M. Smucker Company (The) in the first quarter worth about $5,729,000. 73.37% of the stock is owned by institutional investors and hedge funds.

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J.M. Smucker Company (The) Company Profile

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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