Geode Capital Management LLC Has $307.98 Million Stock Position in The J. M. Smucker Company (NYSE:SJM)

Geode Capital Management LLC trimmed its position in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 4.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,551,721 shares of the company's stock after selling 113,715 shares during the period. Geode Capital Management LLC owned approximately 2.40% of J. M. Smucker worth $307,978,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Probity Advisors Inc. lifted its position in shares of J. M. Smucker by 1.1% during the 3rd quarter. Probity Advisors Inc. now owns 8,791 shares of the company's stock worth $1,065,000 after buying an additional 96 shares during the last quarter. Anchor Investment Management LLC lifted its holdings in shares of J. M. Smucker by 0.5% in the second quarter. Anchor Investment Management LLC now owns 19,791 shares of the company's stock worth $2,158,000 after acquiring an additional 99 shares during the last quarter. State of Michigan Retirement System boosted its stake in shares of J. M. Smucker by 0.3% in the 2nd quarter. State of Michigan Retirement System now owns 33,561 shares of the company's stock valued at $3,659,000 after purchasing an additional 100 shares in the last quarter. Romano Brothers AND Company boosted its stake in shares of J. M. Smucker by 3.5% in the 3rd quarter. Romano Brothers AND Company now owns 2,987 shares of the company's stock valued at $362,000 after purchasing an additional 100 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of J. M. Smucker by 11.0% during the 3rd quarter. Blue Trust Inc. now owns 1,032 shares of the company's stock valued at $125,000 after purchasing an additional 102 shares during the last quarter. 81.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. StockNews.com upgraded shares of J. M. Smucker from a "sell" rating to a "hold" rating in a research report on Monday, September 30th. Stifel Nicolaus lowered J. M. Smucker from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $135.00 to $125.00 in a research report on Friday, October 25th. Citigroup lowered their target price on J. M. Smucker from $138.00 to $136.00 and set a "buy" rating for the company in a report on Thursday, August 29th. Bank of America cut their price target on J. M. Smucker from $130.00 to $122.00 and set a "neutral" rating on the stock in a research note on Thursday, August 29th. Finally, BNP Paribas raised J. M. Smucker to a "strong sell" rating in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $128.56.

J. M. Smucker Trading Up 0.0 %

Shares of J. M. Smucker stock traded up $0.01 during midday trading on Friday, reaching $113.53. The company had a trading volume of 1,083,608 shares, compared to its average volume of 1,440,458. The firm has a market cap of $12.08 billion, a PE ratio of 22.98, a P/E/G ratio of 3.46 and a beta of 0.26. The stock has a fifty day moving average price of $115.68 and a 200 day moving average price of $115.95. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.58 and a quick ratio of 0.27. The J. M. Smucker Company has a fifty-two week low of $105.69 and a fifty-two week high of $134.62.

J. M. Smucker (NYSE:SJM - Get Free Report) last issued its quarterly earnings results on Tuesday, November 26th. The company reported $2.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.51 by $0.25. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.35%. The firm had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the previous year, the company earned $2.59 EPS. The company's revenue for the quarter was up 17.2% on a year-over-year basis. On average, equities analysts anticipate that The J. M. Smucker Company will post 9.89 earnings per share for the current year.

J. M. Smucker Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were issued a $1.08 dividend. The ex-dividend date was Friday, November 15th. This represents a $4.32 dividend on an annualized basis and a yield of 3.81%. J. M. Smucker's payout ratio is currently 87.45%.

About J. M. Smucker

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.