Janney Montgomery Scott LLC Buys 12,008 Shares of The J. M. Smucker Company (NYSE:SJM)

Janney Montgomery Scott LLC lifted its stake in The J. M. Smucker Company (NYSE:SJM - Free Report) by 10.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 124,280 shares of the company's stock after buying an additional 12,008 shares during the period. Janney Montgomery Scott LLC owned about 0.12% of J. M. Smucker worth $15,050,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Assenagon Asset Management S.A. raised its stake in shares of J. M. Smucker by 6,703.1% in the second quarter. Assenagon Asset Management S.A. now owns 159,873 shares of the company's stock valued at $17,433,000 after acquiring an additional 157,523 shares during the last quarter. Cetera Investment Advisers boosted its stake in J. M. Smucker by 62.0% in the first quarter. Cetera Investment Advisers now owns 24,174 shares of the company's stock worth $3,043,000 after purchasing an additional 9,250 shares in the last quarter. Swedbank AB grew its holdings in shares of J. M. Smucker by 14.1% during the second quarter. Swedbank AB now owns 127,618 shares of the company's stock worth $13,915,000 after purchasing an additional 15,792 shares during the last quarter. Westwood Holdings Group Inc. increased its stake in shares of J. M. Smucker by 25.7% in the first quarter. Westwood Holdings Group Inc. now owns 56,816 shares of the company's stock valued at $7,151,000 after buying an additional 11,622 shares in the last quarter. Finally, UniSuper Management Pty Ltd raised its holdings in shares of J. M. Smucker by 553.9% in the first quarter. UniSuper Management Pty Ltd now owns 8,874 shares of the company's stock valued at $1,117,000 after buying an additional 7,517 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company's stock.

J. M. Smucker Trading Down 0.7 %

Shares of NYSE:SJM traded down $0.77 during mid-day trading on Wednesday, reaching $115.62. The stock had a trading volume of 1,314,452 shares, compared to its average volume of 1,152,107. The firm has a market cap of $12.30 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 3.25 and a beta of 0.25. The firm has a 50 day simple moving average of $118.01 and a two-hundred day simple moving average of $115.75. The company has a current ratio of 0.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.87. The J. M. Smucker Company has a twelve month low of $105.69 and a twelve month high of $134.62.

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 for the quarter, topping analysts' consensus estimates of $2.17 by $0.27. The company had revenue of $2.13 billion for the quarter, compared to analysts' expectations of $2.13 billion. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. The business's quarterly revenue was up 17.7% compared to the same quarter last year. During the same period last year, the firm posted $2.21 earnings per share. On average, research analysts predict that The J. M. Smucker Company will post 9.8 EPS for the current fiscal year.

J. M. Smucker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend is Friday, November 15th. J. M. Smucker's dividend payout ratio is currently 61.10%.

Analyst Ratings Changes

A number of equities research analysts have commented on SJM shares. Barclays decreased their price objective on shares of J. M. Smucker from $123.00 to $121.00 and set an "equal weight" rating on the stock in a report on Friday, August 30th. Wells Fargo & Company lowered their price target 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. TD Cowen reduced their price objective on J. M. Smucker from $135.00 to $132.00 and set a "buy" rating on the stock in a report on Thursday, August 29th. StockNews.com raised J. M. Smucker from a "sell" rating to a "hold" rating in a research note on Monday, September 30th. Finally, Citigroup dropped their target price on J. M. Smucker from $138.00 to $136.00 and set a "buy" rating for the company in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $126.42.

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.