J M Smucker (SJM) Earns Buy Rating from Jefferies Financial Group
Jefferies Financial Group reissued their buy rating on shares of J M Smucker (NYSE:SJM) in a research note issued to investors on Friday morning. The firm currently has a $125.00 price objective on the stock.
“We are updating our model to reflect 2Q results. Recall 2Q results missed expectations and the FY19 guidance was lowered (from an already lowered base). Although we have lower conviction in our positive thesis, we are maintaining our Buy rating as we believe the depressed valuation discounts most of our concerns and that some of the issues driving the negative earnings revisions are transitory.”,” the firm’s analyst wrote.
SJM has been the topic of several other research reports. Zacks Investment Research upgraded shares of J M Smucker from a sell rating to a hold rating in a research note on Wednesday, November 21st. Credit Suisse Group upgraded shares of J M Smucker to a hold rating and set a $94.00 target price for the company in a research report on Thursday, November 29th. Wolfe Research cut shares of J M Smucker from a peer perform rating to an underperform rating in a research report on Wednesday, September 26th. ValuEngine cut shares of J M Smucker from a hold rating to a sell rating in a research report on Wednesday, January 2nd. Finally, Barclays restated a hold rating and issued a $103.00 target price on shares of J M Smucker in a research report on Sunday, December 2nd. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. J M Smucker currently has an average rating of Hold and a consensus target price of $119.50.
J M Smucker (NYSE:SJM) last released its quarterly earnings data on Wednesday, November 28th. The company reported $2.17 earnings per share for the quarter, missing the consensus estimate of $2.29 by ($0.12). The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.05 billion. J M Smucker had a return on equity of 12.03% and a net margin of 17.59%. J M Smucker’s revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.02 EPS. Sell-side analysts forecast that J M Smucker will post 8.03 earnings per share for the current year.
In other J M Smucker news, Director Kathryn W. Dindo bought 500 shares of the business’s stock in a transaction that occurred on Thursday, December 27th. The stock was acquired at an average cost of $92.20 per share, with a total value of $46,100.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David J. Lemmon sold 1,017 shares of the stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $92.99, for a total transaction of $94,570.83. The disclosure for this sale can be found here. Insiders bought 32,000 shares of company stock valued at $3,234,860 over the last quarter. Insiders own 3.92% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Auxier Asset Management lifted its position in shares of J M Smucker by 1.2% in the 3rd quarter. Auxier Asset Management now owns 12,808 shares of the company’s stock valued at $1,314,000 after acquiring an additional 150 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of J M Smucker by 5.4% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 10,221 shares of the company’s stock valued at $1,114,000 after acquiring an additional 520 shares in the last quarter. WINTON GROUP Ltd lifted its position in shares of J M Smucker by 25.2% in the 3rd quarter. WINTON GROUP Ltd now owns 2,724 shares of the company’s stock valued at $280,000 after acquiring an additional 548 shares in the last quarter. Farmers Trust Co. lifted its position in shares of J M Smucker by 1.3% in the 3rd quarter. Farmers Trust Co. now owns 43,125 shares of the company’s stock valued at $4,425,000 after acquiring an additional 558 shares in the last quarter. Finally, Smith Moore & CO. lifted its position in shares of J M Smucker by 10.1% in the 3rd quarter. Smith Moore & CO. now owns 6,234 shares of the company’s stock valued at $640,000 after acquiring an additional 571 shares in the last quarter. 79.30% of the stock is owned by institutional investors and hedge funds.
About J M Smucker
The J. M. Smucker Company manufactures and markets branded food and beverage products worldwide. It operates in four segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The company primarily offers coffee, pet food and pet snacks, peanut butter, fruit spreads, shortening and oils, baking mixes and ready-to-spread frostings, frozen sandwiches, flour and baking ingredients, juices and beverages, and portion control products.
Read More: Derivative
Receive News & Ratings for J M Smucker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for J M Smucker and related companies with MarketBeat.com's FREE daily email newsletter.