Welch Group LLC Decreases Stock Holdings in The J. M. Smucker Company (NYSE:SJM)

Welch Group LLC trimmed its position in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 62.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,673 shares of the company's stock after selling 4,400 shares during the quarter. Welch Group LLC's holdings in J. M. Smucker were worth $324,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Resonant Capital Advisors LLC boosted its holdings in shares of J. M. Smucker by 0.7% during the 1st quarter. Resonant Capital Advisors LLC now owns 14,328 shares of the company's stock valued at $1,803,000 after acquiring an additional 93 shares during the last quarter. Probity Advisors Inc. boosted its holdings in shares of J. M. Smucker by 1.1% during the 3rd quarter. Probity Advisors Inc. now owns 8,791 shares of the company's stock valued at $1,065,000 after acquiring an additional 96 shares during the last quarter. Anchor Investment Management LLC boosted its holdings in shares of J. M. Smucker by 0.5% during the 2nd quarter. Anchor Investment Management LLC now owns 19,791 shares of the company's stock valued at $2,158,000 after acquiring an additional 99 shares during the last quarter. State of Michigan Retirement System boosted its holdings in shares of J. M. Smucker by 0.3% during the 2nd quarter. State of Michigan Retirement System now owns 33,561 shares of the company's stock valued at $3,659,000 after acquiring an additional 100 shares during the last quarter. Finally, Romano Brothers AND Company boosted its holdings in shares of J. M. Smucker by 3.5% in the third quarter. Romano Brothers AND Company now owns 2,987 shares of the company's stock worth $362,000 after buying an additional 100 shares during the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

J. M. Smucker Price Performance

Shares of SJM stock traded down $0.61 during mid-day trading on Monday, hitting $115.46. The company had a trading volume of 643,135 shares, compared to its average volume of 1,157,472. The J. M. Smucker Company has a 52-week low of $105.69 and a 52-week high of $134.62. The stock's 50 day moving average price is $118.88 and its 200-day moving average price is $115.62. 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 company has a market capitalization of $12.29 billion, a P/E ratio of 16.33, a P/E/G ratio of 3.32 and a beta of 0.24.

J. M. Smucker (NYSE:SJM - Get Free Report) last released its earnings results on Wednesday, August 28th. The company reported $2.44 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 firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the firm earned $2.21 earnings per share. The company's quarterly revenue was up 17.7% compared to the same quarter last year. Equities research analysts forecast that The J. M. Smucker Company will post 9.81 earnings per share for the current year.

J. M. Smucker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be given a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 3.74%. The ex-dividend date is Friday, November 15th. J. M. Smucker's dividend payout ratio is presently 61.10%.

Wall Street Analyst Weigh In

SJM has been the subject of several recent research reports. DA Davidson restated a "neutral" rating and set a $121.00 target price on shares of J. M. Smucker in a research report on Thursday, August 29th. Citigroup cut their target price on shares of 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. Barclays cut their target price 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. TD Cowen cut their target price on shares of 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. Finally, Stifel Nicolaus lowered shares of J. M. Smucker from a "buy" rating to a "hold" rating and cut their target price for the company from $135.00 to $125.00 in a research report on Friday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, J. M. Smucker presently has an average rating of "Hold" and a consensus price target 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.