Barclays Forecasts Strong Price Appreciation for J. M. Smucker (NYSE:SJM) Stock

J. M. Smucker (NYSE:SJM) had its target price increased by research analysts at Barclays from $121.00 to $126.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price target points to a potential upside of 6.78% from the stock’s current price.

Several other research firms have also commented on SJM. TD Cowen reduced their price objective on shares of J. M. Smucker from $135.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. DA Davidson reaffirmed a “neutral” rating and issued a $121.00 price objective on shares of J. M. Smucker in a report on Thursday, August 29th. BNP Paribas raised shares of J. M. Smucker to a “strong sell” rating in a report on Thursday, August 29th. Bank of America lowered their price target on shares of J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Finally, Wells Fargo & Company upped their price objective on shares of J. M. Smucker from $130.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, J. M. Smucker currently has an average rating of “Hold” and an average target price of $128.00.

J. M. Smucker Stock Performance

SJM opened at $118.00 on Friday. J. M. Smucker has a fifty-two week low of $105.69 and a fifty-two week high of $134.62. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.25 and a current ratio of 0.58. The company has a fifty day moving average of $116.38 and a 200 day moving average of $115.60. The stock has a market capitalization of $12.56 billion, a price-to-earnings ratio of 23.89, a PEG ratio of 3.29 and a beta of 0.25.

J. M. Smucker (NYSE:SJM) last released its quarterly earnings results on Tuesday, November 26th. The company reported $2.76 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.27. The firm had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.27 billion. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.35%. The firm’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.59 EPS. As a group, sell-side analysts forecast that J. M. Smucker will post 9.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On J. M. Smucker

Hedge funds and other institutional investors have recently bought and sold shares of the company. Studio Investment Management LLC purchased a new stake in shares of J. M. Smucker in the second quarter valued at $26,000. Venturi Wealth Management LLC boosted its holdings in J. M. Smucker by 1,329.4% in the third quarter. Venturi Wealth Management LLC now owns 243 shares of the company’s stock valued at $29,000 after purchasing an additional 226 shares during the last quarter. Quarry LP lifted its holdings in J. M. Smucker by 212.6% during the 2nd quarter. Quarry LP now owns 322 shares of the company’s stock worth $35,000 after buying an additional 219 shares during the last quarter. Catalyst Capital Advisors LLC bought a new position in J. M. Smucker during the 3rd quarter worth approximately $39,000. Finally, Eastern Bank bought a new position in J. M. Smucker during the 3rd quarter worth approximately $40,000. 81.66% of the stock is owned by institutional investors and hedge funds.

J. M. Smucker Company Profile

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.