Assenagon Asset Management S.A. cut its stake in The J. M. Smucker Company (NYSE:SJM - Free Report) by 8.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 145,881 shares of the company's stock after selling 13,992 shares during the quarter. Assenagon Asset Management S.A. owned about 0.14% of J. M. Smucker worth $17,666,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the stock. Studio Investment Management LLC purchased a new position in J. M. Smucker during the second quarter worth about $26,000. Quarry LP grew its stake in shares of J. M. Smucker by 212.6% in the 2nd quarter. Quarry LP now owns 322 shares of the company's stock valued at $35,000 after buying an additional 219 shares during the period. Eastern Bank acquired a new stake in shares of J. M. Smucker during the 3rd quarter worth approximately $40,000. Trivant Custom Portfolio Group LLC purchased a new stake in shares of J. M. Smucker during the 3rd quarter valued at approximately $42,000. Finally, Rothschild Investment LLC purchased a new position in J. M. Smucker in the second quarter worth approximately $42,000. Hedge funds and other institutional investors own 81.66% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have commented on SJM. TD Cowen reduced 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. Stifel Nicolaus cut shares of J. M. Smucker from a "buy" rating to a "hold" rating and decreased their target price for the company from $135.00 to $125.00 in a research report on Friday. DA Davidson reaffirmed a "neutral" rating and set a $121.00 target price on shares of J. M. Smucker in a research note on Thursday, August 29th. BNP Paribas raised shares of J. M. Smucker to a "strong sell" rating in a research note on Thursday, August 29th. Finally, Barclays lowered 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. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $126.42.
Read Our Latest Stock Analysis on SJM
J. M. Smucker Stock Down 0.8 %
Shares of NYSE SJM traded down $0.97 during mid-day trading on Friday, hitting $116.07. The company had a trading volume of 418,527 shares, compared to its average volume of 1,159,955. The J. M. Smucker Company has a 1-year low of $105.69 and a 1-year high of $134.62. The company has a market capitalization of $12.33 billion, a PE ratio of 16.30, a price-to-earnings-growth ratio of 3.12 and a beta of 0.24. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.55 and a quick ratio of 0.25. The business's 50-day simple moving average is $118.99 and its 200 day simple moving average is $115.60.
J. M. Smucker (NYSE:SJM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.27. J. M. Smucker had a return on equity of 14.22% and a net margin of 8.77%. The business had revenue of $2.13 billion during the quarter, compared to analysts' expectations of $2.13 billion. During the same quarter last year, the business posted $2.21 EPS. The business's quarterly revenue was up 17.7% compared to the same quarter last year. On average, analysts predict that The J. M. Smucker Company will post 9.82 earnings per share for the current year.
J. M. Smucker Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be given a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend is Friday, November 15th. J. M. Smucker's dividend payout ratio is presently 60.67%.
J. M. Smucker Profile
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Free Report)
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.
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