Foster & Motley Inc. decreased its holdings in The J. M. Smucker Company (NYSE:SJM - Free Report) by 37.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,829 shares of the company's stock after selling 9,371 shares during the quarter. Foster & Motley Inc.'s holdings in J. M. Smucker were worth $1,917,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in SJM. Studio Investment Management LLC purchased a new position in shares of J. M. Smucker in the 2nd quarter worth about $26,000. Catalyst Capital Advisors LLC bought a new position in J. M. Smucker during the third quarter valued at $39,000. Quarry LP increased its position in J. M. Smucker by 212.6% in the second quarter. Quarry LP now owns 322 shares of the company's stock worth $35,000 after buying an additional 219 shares during the last quarter. Eastern Bank purchased a new stake in J. M. Smucker in the 3rd quarter worth about $40,000. Finally, Trivant Custom Portfolio Group LLC bought a new stake in shares of J. M. Smucker in the third quarter valued at approximately $42,000. Institutional investors and hedge funds own 81.66% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have issued reports on SJM shares. Citigroup lowered their target price on shares of J. M. Smucker from $138.00 to $136.00 and set a "buy" rating on the stock in a research note on Thursday, August 29th. TD Cowen lowered their price objective on shares of J. M. Smucker from $135.00 to $132.00 and set a "buy" rating for the company in a research note on Thursday, August 29th. Bank of America dropped their price target on J. M. Smucker from $130.00 to $122.00 and set a "neutral" rating for the company in a research note on Thursday, August 29th. 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 research report on Friday, October 25th. Finally, Wells Fargo & Company lowered their price objective on shares of J. M. Smucker from $140.00 to $130.00 and set an "overweight" rating for the company in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $126.42.
Check Out Our Latest Stock Analysis on J. M. Smucker
J. M. Smucker Stock Down 0.4 %
NYSE SJM traded down $0.51 during mid-day trading on Thursday, reaching $115.11. The stock had a trading volume of 493,394 shares, compared to its average volume of 1,149,057. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.55 and a quick ratio of 0.25. The J. M. Smucker Company has a 1 year low of $105.69 and a 1 year high of $134.62. The stock has a market cap of $12.25 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 3.25 and a beta of 0.25. The company has a fifty day moving average price of $118.03 and a 200 day moving average price of $115.75.
J. M. Smucker (NYSE:SJM - Get Free Report) last announced its quarterly earnings results on Wednesday, August 28th. The company reported $2.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.17 by $0.27. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter last year, the firm posted $2.21 EPS. The business's quarterly revenue was up 17.7% compared to the same quarter last year. On average, research analysts expect that The J. M. Smucker Company will post 9.8 earnings per share for the current year.
J. M. Smucker Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend is Friday, November 15th. J. M. Smucker's payout ratio is 61.10%.
About J. M. Smucker
(
Free Report)
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.
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