Credit Suisse Downgrades J M Smucker Co to Neutral with Price Target $145.00

Brokerage firm Credit Suisse Downgrades its rating on J M Smucker Co(NYSE:SJM). In a research note issued to the investors, the brokerage major Lowers the price-target to $145.00 per share. The shares have been rated Neutral. Previously, the analysts had a Outperform rating on the shares. The rating by Credit Suisse was issued on Sep 27, 2016.

In a different note, On Aug 18, 2016, Deutsche Bank said it Maintains its rating on J M Smucker Co. In the research note, the firm Raises the price-target to $162.00 per share. The shares have been rated ‘Buy’ by the firm.

J M Smucker Co (SJM) made into the market gainers list on Fridays trading session with the shares advancing 0.57% or 0.77 points. Due to strong positive momentum, the stock ended at $135.54, which is also near the day’s high of $136.06. The stock began the session at $135.27 and the volume stood at 7,03,069 shares. The 52-week high of the shares is $157.309 and the 52 week low is $106.87. The company has a current market capitalization of $15,779 M and it has 11,64,17,978 shares in outstanding.

J M Smucker Co(SJM) last announced its earnings results on Aug 23, 2016 for Fiscal Year 2017 and Q1.Company reported revenue of $1.82B. Analysts had an estimated revenue of $1.90B. Earnings per share were $1.86. Analysts had estimated an EPS of $1.74.

Several Insider Transactions has been reported to the SEC. On Jun 27, 2016, David J West (director) sold 865 shares at $145.65 per share price.Also, On Jun 27, 2016, Jill R Penrose (SVP, Human Resources) sold 519 shares at $146.96 per share price.On Jun 27, 2016, Kathryn W Dindo (director) sold 1,466 shares at $146.50 per share price, according to the Form-4 filing with the securities and exchange commission.

The J. M. Smucker Company is a manufacturer and marketer of consumer food and beverage products and pet food and pet snacks in North America. The Company has four segments: U.S. Retail Coffee U.S. Retail Consumer Foods U.S. Retail Pet Foods and International Foodservice and Natural Foods. The Company’s U.S. retail market segments consist of the sale of branded food products to consumers through retail outlets in North America. The Company’s International Foodservice and Natural Foods segment represents sales outside of the U.S. retail market segments. The Company’s principal consumer food and beverage products are coffee peanut butter fruit spreads shortening and oils baking mixes and ready-to-spread frostings canned milk flour and baking ingredients juices and beverages frozen sandwiches toppings syrups pickles condiments grain products and nut mix products. The Company’s pet products consist of dry and wet dog food dry and wet cat food dog snacks and cat snacks.

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