Jefferies Group reiterated their buy rating on shares of J M Smucker (NYSE:SJM) in a research report report published on Friday morning. The brokerage currently has a $135.00 price objective on the stock.
“3Q18 operating results and implied guidance is in-line with consensus (slightly below our estimate). Sales were better than expected (in line with our BSM thesis) and EBIT was better than feared in light of the increases in freight costs that the industry is experiencing. At the segment level, Coffee was a positive stand-out, while Pet results disappointed.”,” Jefferies Group’s analyst commented.
SJM has been the topic of a number of other reports. Credit Suisse Group set a $120.00 price target on shares of J M Smucker and gave the stock a hold rating in a report on Wednesday, January 10th. UBS Group upgraded shares of J M Smucker from a neutral rating to a positive rating in a report on Monday, November 13th. Stifel Nicolaus upped their price target on shares of J M Smucker from $109.00 to $113.00 and gave the stock a hold rating in a report on Friday, November 17th. Susquehanna Bancshares restated a hold rating and issued a $110.00 price target on shares of J M Smucker in a report on Tuesday, November 7th. Finally, Zacks Investment Research upgraded shares of J M Smucker from a sell rating to a hold rating in a report on Wednesday, October 25th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. J M Smucker has an average rating of Hold and an average price target of $127.58.
J M Smucker (NYSE:SJM) last announced its earnings results on Friday, February 16th. The company reported $2.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.16 by $0.34. J M Smucker had a net margin of 7.72% and a return on equity of 11.98%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the firm posted $2.00 earnings per share. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. sell-side analysts expect that J M Smucker will post 8.25 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Friday, February 9th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Thursday, February 8th. J M Smucker’s payout ratio is 28.08%.
In other J M Smucker news, insider David J. Lemmon sold 1,205 shares of the stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $124.54, for a total transaction of $150,070.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Jeannette L. Knudsen sold 1,600 shares of the stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $124.36, for a total transaction of $198,976.00. Following the transaction, the senior vice president now owns 23,452 shares in the company, valued at $2,916,490.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,610 shares of company stock worth $698,093. 3.50% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the business. LSV Asset Management boosted its holdings in shares of J M Smucker by 44.8% in the 4th quarter. LSV Asset Management now owns 2,081,093 shares of the company’s stock valued at $258,554,000 after buying an additional 643,817 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of J M Smucker by 1.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,733,594 shares of the company’s stock valued at $181,908,000 after buying an additional 27,182 shares in the last quarter. Ariel Investments LLC boosted its holdings in shares of J M Smucker by 18.8% in the 4th quarter. Ariel Investments LLC now owns 1,611,582 shares of the company’s stock valued at $200,223,000 after buying an additional 254,864 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of J M Smucker by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 1,508,493 shares of the company’s stock valued at $187,100,000 after buying an additional 51,463 shares in the last quarter. Finally, Schroder Investment Management Group boosted its holdings in shares of J M Smucker by 4.4% in the 3rd quarter. Schroder Investment Management Group now owns 1,217,700 shares of the company’s stock valued at $128,005,000 after buying an additional 50,960 shares in the last quarter. Institutional investors own 76.10% of the company’s stock.
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J M Smucker 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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