William Blair analyst Jon Andersen has maintained their neutral stance on SJM stock, giving a Hold rating today.
Jon Andersen has given his Hold rating due to a combination of factors influencing JM Smucker’s recent performance. The company reported earnings per share of $2.61, which exceeded both his estimate of $2.38 and the consensus of $2.37. However, the quality of earnings was mixed as sales figures were lower than expected, though this was somewhat offset by a higher gross margin and better-than-forecasted operating expense ratio.
Despite the positive earnings per share, management’s decision to lower sales guidance while only slightly raising the midpoint of its EPS guidance suggests caution. These mixed signals indicate a balanced outlook, leading Andersen to recommend holding the stock rather than buying or selling at this time.
In another report released today, Barclays also maintained a Hold rating on the stock with a $123.00 price target.
Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SJM in relation to earlier this year.