Code Waechter LLC Invests $593,000 in The J. M. Smucker Company (NYSE:SJM)

Code Waechter LLC purchased a new stake in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,899 shares of the company's stock, valued at approximately $593,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Studio Investment Management LLC acquired a new position in J. M. Smucker during the 2nd quarter worth $26,000. Cooksen Wealth LLC acquired a new position in J. M. Smucker during the 4th quarter worth $33,000. Quarry LP lifted its position in J. M. Smucker by 212.6% during the 2nd quarter. Quarry LP now owns 322 shares of the company's stock worth $35,000 after acquiring an additional 219 shares during the last quarter. Trivant Custom Portfolio Group LLC acquired a new position in shares of J. M. Smucker during the third quarter valued at about $42,000. Finally, Rothschild Investment LLC acquired a new position in shares of J. M. Smucker during the second quarter valued at about $42,000. Institutional investors own 81.66% of the company's stock.

J. M. Smucker Price Performance

Shares of SJM traded down $0.20 during mid-day trading on Friday, hitting $116.82. 606,588 shares of the company traded hands, compared to its average volume of 834,805. The J. M. Smucker Company has a one year low of $105.69 and a one year high of $134.62. 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 business has a 50-day moving average of $118.94 and a 200 day moving average of $115.79. The stock has a market capitalization of $12.43 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 3.10 and a beta of 0.24.

J. M. Smucker (NYSE:SJM - Get Free Report) last released its quarterly earnings results on Wednesday, August 28th. The company reported $2.44 EPS for the quarter, beating 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 for the quarter, compared to analysts' expectations of $2.13 billion. During the same period in the prior year, the firm earned $2.21 earnings per share. J. M. Smucker's revenue was up 17.7% compared to the same quarter last year. As a group, equities analysts expect that The J. M. Smucker Company will post 9.82 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on SJM shares. DA Davidson reaffirmed a "neutral" rating and set a $121.00 price objective on shares of J. M. Smucker in a research report on Thursday, August 29th. StockNews.com raised shares of J. M. Smucker from a "sell" rating to a "hold" rating in a research report on Monday, September 30th. BNP Paribas raised shares of J. M. Smucker to a "strong sell" rating in a research report on Thursday, August 29th. Barclays cut their price objective on shares of J. M. Smucker from $123.00 to $121.00 and set an "equal weight" rating for the company in a research report on Friday, August 30th. Finally, Bank of America lowered their target price on shares of 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, J. M. Smucker currently has an average rating of "Hold" and a consensus price target of $127.25.

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.