Markets

J.M. Smucker’s Target Lowered at Citigroup (SJM)

Packaged foods maker The J.M. Smucker Company ( SJM ) on Friday saw its price target lowered by 5% by analysts at Citigroup.

The firm said it cut its target on SJM from $82 to $78, suggesting a smaller 11% upside to the stock's Thursday closing price of $70.02. Citigroup also maintained its "Hold" rating.

J.M. Smucker shares were unchanged in premarket trading Friday. The stock has risen around 6.7% year-to-date.

The Bottom Line

Shares of the J.M. Smucker Company ( SJM ) have a 2.74% dividend yield, based on last night's closing stock price of $70.02. The stock has technical support in the $67-$70 price area. If the shares can firm up, we see overhead resistance around the $75 price level.

The J.M. Smucker Company ( SJM ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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