Creative Planning Cuts Position in The J. M. Smucker Company (NYSE:SJM)

Creative Planning cut its stake in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 24.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,342 shares of the company's stock after selling 12,161 shares during the period. Creative Planning's holdings in J. M. Smucker were worth $4,643,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Boston Partners bought a new position in J. M. Smucker in the 1st quarter worth about $364,990,000. Bank of Montreal Can raised 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 purchasing an additional 523,803 shares in the last quarter. Ariel Investments LLC lifted its position in J. M. Smucker by 56.0% during the second quarter. Ariel Investments LLC now owns 1,354,999 shares of the company's stock valued at $147,749,000 after purchasing an additional 486,624 shares during the last quarter. Ilex Capital Partners UK LLP purchased a new position in J. M. Smucker in the 1st quarter worth approximately $48,207,000. Finally, Champlain Investment Partners LLC increased its holdings in shares of J. M. Smucker by 29.0% in the 1st quarter. Champlain Investment Partners LLC now owns 1,457,995 shares of the company's stock worth $183,518,000 after buying an additional 327,680 shares during the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

J. M. Smucker Trading Down 0.8 %

Shares of J. M. Smucker stock traded down $0.97 during trading on Friday, reaching $116.07. 418,175 shares of the stock were exchanged, compared to its average volume of 1,159,955. 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 firm has a market cap of $12.33 billion, a price-to-earnings ratio of 16.41, a price-to-earnings-growth ratio of 3.12 and a beta of 0.24. The J. M. Smucker Company has a 1 year low of $105.69 and a 1 year high of $134.62. The stock's fifty day moving average is $119.04 and its 200 day moving average is $115.59.

J. M. Smucker (NYSE:SJM - Get Free Report) last released 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. The business had revenue of $2.13 billion during the quarter, compared to analysts' expectations of $2.13 billion. J. M. Smucker had a return on equity of 14.22% and a net margin of 8.77%. The business's revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the business posted $2.21 EPS. As a group, equities research analysts expect that The J. M. Smucker Company will post 9.82 earnings per share for the current fiscal year.

J. M. Smucker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be given a $1.08 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.32 annualized dividend and a dividend yield of 3.72%. J. M. Smucker's dividend payout ratio is 60.67%.

Wall Street Analysts Forecast Growth

SJM has been the subject of several research reports. Bank of America cut their target price 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. Citigroup decreased their price objective on J. M. Smucker from $138.00 to $136.00 and set a "buy" rating on the stock in a report on Thursday, August 29th. BNP Paribas raised J. M. Smucker to a "strong sell" rating in a research note on Thursday, August 29th. TD Cowen decreased their price target on shares of J. M. Smucker from $135.00 to $132.00 and set a "buy" rating on the stock in a research note on Thursday, August 29th. Finally, StockNews.com raised shares of J. M. Smucker from a "sell" rating to a "hold" rating in a research note on Monday, September 30th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $126.42.

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.