Los Angeles Capital Management LLC Reduces Stock Position in The J. M. Smucker Company (NYSE:SJM)

Los Angeles Capital Management LLC cut its position in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 82.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,026 shares of the company's stock after selling 46,441 shares during the quarter. Los Angeles Capital Management LLC's holdings in J. M. Smucker were worth $1,214,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Boston Partners bought a new position in J. M. Smucker during the 1st quarter valued at approximately $364,990,000. Bank of Montreal Can grew its stake in shares of J. M. Smucker by 186.3% in the second quarter. Bank of Montreal Can now owns 805,029 shares of the company's stock worth $90,195,000 after acquiring an additional 523,803 shares during the last quarter. Ariel Investments LLC lifted its stake in shares of J. M. Smucker by 56.0% in the second quarter. Ariel Investments LLC now owns 1,354,999 shares of the company's stock worth $147,749,000 after buying an additional 486,624 shares in the last quarter. Ilex Capital Partners UK LLP bought a new stake in shares of J. M. Smucker in the 1st quarter worth $48,207,000. Finally, Champlain Investment Partners LLC boosted its holdings in shares of J. M. Smucker by 29.0% during the 1st quarter. Champlain Investment Partners LLC now owns 1,457,995 shares of the company's stock valued at $183,518,000 after acquiring an additional 327,680 shares during the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the company. TD Cowen cut their price objective on J. M. Smucker from $135.00 to $132.00 and set a "buy" rating for the company in a report on Thursday, August 29th. Barclays dropped 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. DA Davidson reaffirmed a "neutral" rating and set a $121.00 target price on shares of J. M. Smucker in a report on Thursday, August 29th. Stifel Nicolaus downgraded shares of J. M. Smucker from a "buy" rating to a "hold" rating and cut their price objective for the company from $135.00 to $125.00 in a research report on Friday, October 25th. Finally, Wells Fargo & Company decreased their target price on J. M. Smucker from $140.00 to $130.00 and set an "overweight" rating on the stock in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $127.09.

J. M. Smucker Price Performance

SJM stock traded down $4.12 during midday trading on Friday, hitting $106.63. The company's stock had a trading volume of 1,248,283 shares, compared to its average volume of 1,153,452. The company has a quick ratio of 0.25, a current ratio of 0.55 and a debt-to-equity ratio of 0.87. The J. M. Smucker Company has a 12 month low of $105.69 and a 12 month high of $134.62. The company has a 50 day moving average of $117.52 and a two-hundred day moving average of $115.61. The firm has a market capitalization of $11.35 billion, a price-to-earnings ratio of 15.66, a price-to-earnings-growth ratio of 3.18 and a beta of 0.25.

J. M. Smucker (NYSE:SJM - Get Free Report) last posted its earnings results on Wednesday, August 28th. The company reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.27. The company had revenue of $2.13 billion during 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%. J. M. Smucker's quarterly revenue was up 17.7% on a year-over-year basis. During the same period last year, the company posted $2.21 earnings per share. On average, analysts expect that The J. M. Smucker Company will post 9.8 EPS for the current year.

J. M. Smucker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend is Friday, November 15th. J. M. Smucker's dividend payout ratio is presently 61.10%.

J. M. Smucker 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.