J. M. Smucker (NYSE:SJM) Sets New 52-Week Low – Here’s Why

The J. M. Smucker Company (NYSE:SJM)’s share price reached a new 52-week low on Wednesday . The stock traded as low as $100.72 and last traded at $100.77, with a volume of 231617 shares. The stock had previously closed at $101.91.

Wall Street Analysts Forecast Growth

SJM has been the topic of several recent analyst reports. TD Cowen lowered shares of J. M. Smucker from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $130.00 to $121.00 in a research note on Wednesday, January 8th. StockNews.com raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Monday, September 30th. Stifel Nicolaus cut shares of J. M. Smucker from a “buy” rating to a “hold” rating and reduced their price target for the company from $135.00 to $125.00 in a report on Friday, October 25th. Barclays reduced their price target on shares of J. M. Smucker from $126.00 to $123.00 and set an “equal weight” rating for the company in a report on Wednesday, December 4th. Finally, Wells Fargo & Company upped their price target on shares of J. M. Smucker from $130.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $127.33.

J. M. Smucker Price Performance

The company’s fifty day moving average is $112.13 and its 200 day moving average is $115.64. The firm has a market cap of $10.75 billion, a price-to-earnings ratio of 20.45, a PEG ratio of 3.46 and a beta of 0.28. The company has a quick ratio of 0.27, a current ratio of 0.58 and a debt-to-equity ratio of 0.89.

J. M. Smucker (NYSE:SJM) last posted its quarterly earnings results on Tuesday, November 26th. The company reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.25. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.35%. The firm had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period in the prior year, the firm posted $2.59 earnings per share. The company’s quarterly revenue was up 17.2% compared to the same quarter last year. On average, equities research analysts predict that The J. M. Smucker Company will post 9.89 EPS for the current year.

J. M. Smucker Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 4.28%. The ex-dividend date was Friday, November 15th. J. M. Smucker’s dividend payout ratio (DPR) is currently 87.45%.

Insiders Place Their Bets

In other news, CFO Tucker H. Marshall sold 994 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $113.00, for a total value of $112,322.00. Following the transaction, the chief financial officer now directly owns 18,734 shares of the company’s stock, valued at $2,116,942. This represents a 5.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On J. M. Smucker

Several large investors have recently modified their holdings of SJM. Venturi Wealth Management LLC raised its position in shares of 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 period. Kieckhefer Group LLC bought a new position in shares of J. M. Smucker in the fourth quarter valued at about $33,000. Quarry LP raised its position in shares of J. M. Smucker by 212.6% in the second quarter. Quarry LP now owns 322 shares of the company’s stock valued at $35,000 after purchasing an additional 219 shares during the period. Catalyst Capital Advisors LLC bought a new position in shares of J. M. Smucker in the third quarter valued at about $39,000. Finally, Eastern Bank bought a new position in shares of J. M. Smucker in the third quarter valued at about $40,000. 81.66% of the stock is owned by institutional investors.

About J. M. Smucker

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.