Bridgewater Associates LP Sells 92,524 Shares of The J. M. Smucker Company (NYSE:SJM)

Bridgewater Associates LP cut its position in The J. M. Smucker Company (NYSE:SJM - Free Report) by 48.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 97,318 shares of the company's stock after selling 92,524 shares during the quarter. Bridgewater Associates LP owned approximately 0.09% of J. M. Smucker worth $11,785,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of SJM. Studio Investment Management LLC bought a new stake in J. M. Smucker during the second quarter valued at about $26,000. Venturi Wealth Management LLC lifted its position in shares of J. M. Smucker by 1,329.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 243 shares of the company's stock worth $29,000 after purchasing an additional 226 shares during the last quarter. Quarry LP boosted its stake in J. M. Smucker by 212.6% during the 2nd 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 acquired a new stake in J. M. Smucker in the 3rd quarter valued at approximately $39,000. Finally, Eastern Bank bought a new position in J. M. Smucker in the 3rd quarter worth approximately $40,000. Institutional investors own 81.66% of the company's stock.

J. M. Smucker Price Performance

J. M. Smucker stock traded up $0.02 during mid-day trading on Friday, hitting $118.02. 1,000,903 shares of the company were exchanged, compared to its average volume of 1,178,594. The J. M. Smucker Company has a 1-year low of $105.69 and a 1-year high of $134.62. The company has a quick ratio of 0.25, a current ratio of 0.58 and a debt-to-equity ratio of 0.89. The business has a fifty day moving average of $116.36 and a 200 day moving average of $115.62. The company has a market capitalization of $12.56 billion, a PE ratio of 23.89, a price-to-earnings-growth ratio of 3.29 and a beta of 0.25.

J. M. Smucker (NYSE:SJM - Get Free Report) last announced its quarterly earnings results on Tuesday, November 26th. The company reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.27. The firm had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.27 billion. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.35%. The firm's quarterly revenue was up 17.2% on a year-over-year basis. During the same period last year, the firm posted $2.59 EPS. As a group, sell-side analysts expect that The J. M. Smucker Company will post 9.85 earnings per share for the current year.

J. M. Smucker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be given a $1.08 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.32 annualized dividend and a yield of 3.66%. J. M. Smucker's payout ratio is 87.45%.

Analyst Upgrades and Downgrades

SJM has been the subject of several research reports. Barclays increased their price objective on J. M. Smucker from $121.00 to $126.00 and gave the company an "equal weight" rating in a research report on Friday. DA Davidson restated a "neutral" rating and issued a $121.00 price target on shares of J. M. Smucker in a research report on Thursday, August 29th. TD Cowen dropped their price objective on shares of J. M. Smucker from $135.00 to $132.00 and set a "buy" rating on the stock in a report on Thursday, August 29th. Stifel Nicolaus cut shares of J. M. Smucker from a "buy" rating to a "hold" rating and reduced their target price for the company from $135.00 to $125.00 in a research note on Friday, October 25th. Finally, StockNews.com upgraded J. M. Smucker from a "sell" rating to a "hold" rating in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $128.00.

J. M. Smucker Company Profile

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.