Raymond James & Associates Purchases 18,767 Shares of The J. M. Smucker Company (NYSE:SJM)

Raymond James & Associates grew its holdings in The J. M. Smucker Company (NYSE:SJM - Free Report) by 7.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 259,394 shares of the company's stock after buying an additional 18,767 shares during the quarter. Raymond James & Associates owned approximately 0.24% of J. M. Smucker worth $31,413,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. AMF Tjanstepension AB purchased a new stake in J. M. Smucker in the 1st quarter worth approximately $23,990,000. Assenagon Asset Management S.A. lifted its holdings in J. M. Smucker by 6,703.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 159,873 shares of the company's stock worth $17,433,000 after buying an additional 157,523 shares during the period. Cetera Investment Advisers raised its position in shares of J. M. Smucker by 62.0% in the 1st quarter. Cetera Investment Advisers now owns 24,174 shares of the company's stock worth $3,043,000 after acquiring an additional 9,250 shares in the last quarter. Swedbank AB raised its position in shares of J. M. Smucker by 14.1% in the 2nd quarter. Swedbank AB now owns 127,618 shares of the company's stock worth $13,915,000 after acquiring an additional 15,792 shares in the last quarter. Finally, Westwood Holdings Group Inc. raised its position in shares of J. M. Smucker by 25.7% in the 1st quarter. Westwood Holdings Group Inc. now owns 56,816 shares of the company's stock worth $7,151,000 after acquiring an additional 11,622 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company's stock.

J. M. Smucker Stock Down 0.6 %

Shares of NYSE:SJM traded down $0.66 during trading on Thursday, reaching $117.04. 576,169 shares of the stock traded hands, compared to its average volume of 1,163,556. The stock has a 50-day moving average of $119.09 and a two-hundred day moving average of $115.58. The J. M. Smucker Company has a 52-week low of $105.69 and a 52-week 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. The stock has a market cap of $12.45 billion, a P/E ratio of 16.65, a price-to-earnings-growth ratio of 3.12 and a beta of 0.24.

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

J. M. Smucker Announces Dividend

The business also recently announced 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. This represents a $4.32 annualized dividend and a yield of 3.69%. J. M. Smucker's dividend payout ratio is currently 61.10%.

Analyst Ratings Changes

Several research analysts have recently issued reports on SJM shares. Citigroup decreased 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. BNP Paribas raised J. M. Smucker to a "strong sell" rating in a research report on Thursday, August 29th. Wells Fargo & Company decreased their target price 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. Bank of America decreased their target price on 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, TD Cowen reduced their price objective on J. M. Smucker from $135.00 to $132.00 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 issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, J. M. Smucker presently has a consensus rating of "Hold" and an average target price of $127.25.

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.