Credit Suisse Group Downgrades J M Smucker (NYSE:SJM) to Underperform

J M Smucker (NYSE:SJM) was downgraded by equities researchers at Credit Suisse Group from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Wednesday, The Fly reports. They presently have a $95.00 price objective on the stock, down from their prior price objective of $100.00. Credit Suisse Group’s target price would indicate a potential downside of 9.52% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Stifel Nicolaus lowered their price target on shares of J M Smucker from $120.00 to $110.00 and set a “hold” rating on the stock in a research report on Wednesday, August 28th. TheStreet cut shares of J M Smucker from a “b-” rating to a “c+” rating in a research report on Tuesday, August 6th. Bank of America decreased their target price on shares of J M Smucker from $128.00 to $122.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 28th. Wells Fargo & Co reaffirmed a “market perform” rating and issued a $107.00 target price (down previously from $114.00) on shares of J M Smucker in a research report on Wednesday, August 28th. Finally, Citigroup decreased their target price on shares of J M Smucker from $142.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. J M Smucker has an average rating of “Hold” and an average target price of $110.60.

Shares of SJM stock traded up $0.51 on Wednesday, hitting $105.00. 764,688 shares of the stock traded hands, compared to its average volume of 712,765. The firm’s 50-day moving average price is $107.19 and its two-hundred day moving average price is $114.34. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.26 and a current ratio of 0.70. The stock has a market capitalization of $12.06 billion, a PE ratio of 12.67, a PEG ratio of 3.41 and a beta of 0.41. J M Smucker has a twelve month low of $91.32 and a twelve month high of $128.43.

J M Smucker (NYSE:SJM) last announced its quarterly earnings results on Tuesday, August 27th. The company reported $1.58 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.17). The firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.88 billion. J M Smucker had a net margin of 6.95% and a return on equity of 11.49%. The company’s revenue was down 6.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.78 EPS. On average, equities research analysts anticipate that J M Smucker will post 8.29 EPS for the current fiscal year.

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In other news, SVP Kevin G. Jackson sold 487 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $108.70, for a total transaction of $52,936.90. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark R. Belgya sold 750 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $113.55, for a total transaction of $85,162.50. Following the sale, the insider now directly owns 54,192 shares in the company, valued at approximately $6,153,501.60. The disclosure for this sale can be found here. Insiders sold 1,987 shares of company stock worth $220,599 in the last ninety days. 3.70% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. 1 North Wealth Services LLC acquired a new stake in shares of J M Smucker during the third quarter worth about $28,000. Guinness Asset Management Ltd lifted its position in shares of J M Smucker by 52.7% during the second quarter. Guinness Asset Management Ltd now owns 258 shares of the company’s stock worth $30,000 after purchasing an additional 89 shares in the last quarter. Whitener Capital Management Inc. lifted its position in shares of J M Smucker by 52.4% during the second quarter. Whitener Capital Management Inc. now owns 291 shares of the company’s stock worth $33,000 after purchasing an additional 100 shares in the last quarter. Stonebridge Capital Advisors LLC acquired a new stake in shares of J M Smucker during the second quarter worth about $37,000. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of J M Smucker during the third quarter worth about $42,000. 77.56% of the stock is currently owned by institutional investors and hedge funds.

J M Smucker Company Profile

The J. M. Smucker Co engages in the manufacture and marketing of branded food and beverage products. It operates through the following segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The U. S. Retail Coffee segment includes the domestic sales of Folgers, Dunkin Donuts, and Cafe Bustelo branded coffee.

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Analyst Recommendations for J M Smucker (NYSE:SJM)

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