Douglas Lane & Associates LLC Raises Stock Holdings in The J. M. Smucker Company (NYSE:SJM)

Douglas Lane & Associates LLC boosted its holdings in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 3.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 254,336 shares of the company's stock after purchasing an additional 7,359 shares during the quarter. Douglas Lane & Associates LLC owned approximately 0.24% of J. M. Smucker worth $30,800,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Studio Investment Management LLC bought a new position in shares of J. M. Smucker during the second quarter valued at approximately $26,000. Cooksen Wealth LLC acquired a new stake in J. M. Smucker in the fourth quarter worth $33,000. Quarry LP lifted its stake in J. M. Smucker by 212.6% in the second quarter. Quarry LP now owns 322 shares of the company's stock valued at $35,000 after buying an additional 219 shares during the last quarter. Rothschild Investment LLC bought a new position in shares of J. M. Smucker during the second quarter worth about $42,000. Finally, Trivant Custom Portfolio Group LLC acquired a new stake in shares of J. M. Smucker in the 3rd quarter worth about $42,000. 81.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SJM has been the subject of a number of research analyst reports. DA Davidson restated a "neutral" rating and set a $121.00 price objective on shares of J. M. Smucker in a research report on Thursday, August 29th. Barclays decreased their price target on shares of 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. Wells Fargo & Company cut their price objective on 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. TD Cowen cut their target price on J. M. Smucker from $135.00 to $132.00 and set a "buy" rating on the stock in a research report on Thursday, August 29th. Finally, Citigroup decreased their price target 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 research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $127.25.

J. M. Smucker Trading Down 0.2 %

NYSE:SJM traded down $0.20 during trading hours on Friday, hitting $116.82. The stock had a trading volume of 606,588 shares, compared to its average volume of 834,805. The business's 50 day moving average is $118.94 and its 200-day moving average is $115.67. The company has a market cap of $12.41 billion, a price-to-earnings ratio of 16.41, a P/E/G ratio of 3.10 and a beta of 0.24. 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 debt-to-equity ratio of 0.87, a quick ratio of 0.25 and a current ratio of 0.55.

J. M. Smucker (NYSE:SJM - Get Free Report) last posted its quarterly earnings data 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 previous year, the firm posted $2.21 EPS. The firm's revenue was up 17.7% compared to the same quarter last year. Sell-side analysts anticipate that The J. M. Smucker Company will post 9.82 EPS for the current fiscal year.

J. M. Smucker Company 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.