The J. M. Smucker Company (NYSE:SJM) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its stake in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 27.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,172 shares of the company's stock after selling 7,280 shares during the quarter. State of Alaska Department of Revenue's holdings in J. M. Smucker were worth $2,320,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Probity Advisors Inc. lifted its holdings in J. M. Smucker by 1.1% during the 3rd quarter. Probity Advisors Inc. now owns 8,791 shares of the company's stock worth $1,065,000 after buying an additional 96 shares during the last quarter. Anchor Investment Management LLC boosted its holdings in shares of J. M. Smucker by 0.5% in the 2nd quarter. Anchor Investment Management LLC now owns 19,791 shares of the company's stock valued at $2,158,000 after buying an additional 99 shares in the last quarter. State of Michigan Retirement System grew its position in shares of J. M. Smucker by 0.3% in the 2nd quarter. State of Michigan Retirement System now owns 33,561 shares of the company's stock valued at $3,659,000 after buying an additional 100 shares during the last quarter. Romano Brothers AND Company raised its stake in J. M. Smucker by 3.5% during the 3rd quarter. Romano Brothers AND Company now owns 2,987 shares of the company's stock worth $362,000 after acquiring an additional 100 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in J. M. Smucker by 11.0% in the third quarter. Blue Trust Inc. now owns 1,032 shares of the company's stock valued at $125,000 after acquiring an additional 102 shares during the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.

J. M. Smucker Price Performance

NYSE:SJM traded down $0.59 during trading hours on Friday, hitting $112.92. The company's stock had a trading volume of 767,001 shares, compared to its average volume of 701,153. 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 business's 50-day moving average is $118.25 and its two-hundred day moving average is $115.64. The company has a market capitalization of $12.02 billion, a PE ratio of 15.97, a PEG ratio of 3.24 and a beta of 0.25.

J. M. Smucker (NYSE:SJM - Get Free Report) last announced its quarterly 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 return on equity of 14.22% and a net margin of 8.77%. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the company earned $2.21 EPS. The company's quarterly revenue was up 17.7% on a year-over-year basis. As a group, research analysts anticipate that The J. M. Smucker Company will post 9.8 EPS for the current fiscal year.

J. M. Smucker Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.32 annualized dividend and a dividend yield of 3.83%. J. M. Smucker's dividend payout ratio is presently 61.10%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Bank of America cut their target price on J. M. Smucker from $130.00 to $122.00 and set a "neutral" rating on the stock in a research report on Thursday, August 29th. DA Davidson reaffirmed a "neutral" rating and set a $121.00 price target on shares of J. M. Smucker in a research report on Thursday, August 29th. Wells Fargo & Company decreased their price objective on J. M. Smucker from $140.00 to $130.00 and set an "overweight" rating for the company in a report on Thursday, August 29th. BNP Paribas upgraded shares of J. M. Smucker to a "strong sell" rating in a research report on Thursday, August 29th. Finally, TD Cowen lowered their price objective on shares of 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. 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 company. Based on data from MarketBeat.com, J. M. Smucker currently has a consensus rating of "Hold" and an average price target of $126.42.

J. M. Smucker 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.