KBC Group NV Has $2.91 Million Position in The J. M. Smucker Company (NYSE:SJM)

KBC Group NV reduced its holdings in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 19.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,041 shares of the company's stock after selling 5,652 shares during the quarter. KBC Group NV's holdings in J. M. Smucker were worth $2,911,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of SJM. Boston Partners purchased a new position in shares of J. M. Smucker in the 1st quarter worth about $364,990,000. Bank of Montreal Can boosted its stake in J. M. Smucker by 186.3% in the second quarter. Bank of Montreal Can now owns 805,029 shares of the company's stock valued at $90,195,000 after acquiring an additional 523,803 shares during the last quarter. Ariel Investments LLC grew its position in shares of J. M. Smucker by 56.0% during the 2nd quarter. Ariel Investments LLC now owns 1,354,999 shares of the company's stock valued at $147,749,000 after acquiring an additional 486,624 shares during the period. Ilex Capital Partners UK LLP bought a new stake in shares of J. M. Smucker in the 1st quarter worth approximately $48,207,000. Finally, AMF Tjanstepension AB raised its holdings in shares of J. M. Smucker by 123.2% in the 2nd quarter. AMF Tjanstepension AB now owns 425,048 shares of the company's stock worth $46,378,000 after purchasing an additional 234,619 shares during the period. Hedge funds and other institutional investors own 81.66% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on SJM. Wells Fargo & Company cut their target price on shares of J. M. Smucker from $140.00 to $130.00 and set an "overweight" rating for the company in a research report on Thursday, August 29th. Stifel Nicolaus downgraded J. M. Smucker from a "buy" rating to a "hold" rating and cut their target price for the stock from $135.00 to $125.00 in a research note on Friday, October 25th. Barclays decreased their price target on J. M. Smucker from $123.00 to $121.00 and set an "equal weight" rating on the stock in a research report on Friday, August 30th. Bank of America cut their price objective on shares of J. M. Smucker from $130.00 to $122.00 and set a "neutral" rating for the company in a research report on Thursday, August 29th. Finally, StockNews.com raised shares of J. M. Smucker from a "sell" rating to a "hold" rating in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $127.09.

J. M. Smucker Price Performance

SJM traded up $3.28 during midday trading on Monday, hitting $110.20. 1,025,176 shares of the company traded hands, compared to its average volume of 1,155,805. The company has a market capitalization of $11.73 billion, a price-to-earnings ratio of 15.12, a PEG ratio of 3.06 and a beta of 0.25. 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 52-week low of $105.69 and a 52-week high of $134.62. The business has a 50 day simple moving average of $117.25 and a two-hundred day simple moving average of $115.58.

J. M. Smucker (NYSE:SJM - Get Free Report) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $2.44 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the firm earned $2.21 EPS. The company's revenue was up 17.7% compared to the same quarter last year. On average, equities analysts forecast that The J. M. Smucker Company will post 9.8 earnings per share for the current fiscal year.

J. M. Smucker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be issued 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 3.92%. J. M. Smucker's dividend payout ratio is presently 61.10%.

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.