Principal Financial Group Inc. Increases Stake in The J. M. Smucker Company (NYSE:SJM)

Principal Financial Group Inc. boosted its position in The J. M. Smucker Company (NYSE:SJM - Free Report) by 4.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 135,465 shares of the company's stock after purchasing an additional 5,790 shares during the quarter. Principal Financial Group Inc. owned approximately 0.13% of J. M. Smucker worth $16,405,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. D.B. Root & Company LLC raised its stake in shares of J. M. Smucker by 13.2% during the 3rd quarter. D.B. Root & Company LLC now owns 9,307 shares of the company's stock worth $1,127,000 after buying an additional 1,085 shares during the period. Concurrent Investment Advisors LLC grew its stake in shares of J. M. Smucker by 18.5% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 13,490 shares of the company's stock valued at $1,634,000 after buying an additional 2,103 shares during the period. Radnor Capital Management LLC purchased a new stake in J. M. Smucker in the third quarter valued at $1,174,000. Catalyst Capital Advisors LLC acquired a new stake in shares of J. M. Smucker during the third quarter valued at about $39,000. Finally, Vestor Capital LLC purchased a new position in shares of J. M. Smucker during the 3rd quarter worth approximately $53,000. Hedge funds and other institutional investors own 81.66% of the company's stock.

J. M. Smucker Stock Performance

SJM stock traded down $2.72 during mid-day trading on Friday, hitting $106.92. 1,901,303 shares of the company were exchanged, compared to its average volume of 932,474. The company has a current ratio of 0.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.87. The business has a 50 day simple moving average of $117.25 and a 200-day simple moving average of $115.56. The J. M. Smucker Company has a 1-year low of $105.69 and a 1-year high of $134.62. The stock has a market capitalization of $11.38 billion, a PE ratio of 15.12, a price-to-earnings-growth ratio of 3.17 and a beta of 0.25.

J. M. Smucker (NYSE:SJM - Get Free Report) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $2.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the business earned $2.21 EPS. The firm's quarterly revenue was up 17.7% on a year-over-year basis. On average, equities analysts forecast that The J. M. Smucker Company will post 9.8 earnings per share for the current year.

J. M. Smucker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be issued a dividend of $1.08 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.32 dividend on an annualized basis and a yield of 4.04%. J. M. Smucker's payout ratio is 61.10%.

Analyst Ratings Changes

Several brokerages recently weighed in on SJM. Wells Fargo & Company reduced their target price on shares of J. M. Smucker from $140.00 to $130.00 and set an "overweight" rating on the stock in a report on Thursday, August 29th. Stifel Nicolaus cut shares of J. M. Smucker from a "buy" rating to a "hold" rating and lowered their price target for the stock from $135.00 to $125.00 in a research note on Friday, October 25th. Citigroup cut their price target on J. M. Smucker from $138.00 to $136.00 and set a "buy" rating for the company in a research note on Thursday, August 29th. Barclays lowered their target price on J. M. Smucker from $123.00 to $121.00 and set an "equal weight" rating on the stock in a report on Friday, August 30th. Finally, BNP Paribas upgraded shares of J. M. Smucker to a "strong sell" rating in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $127.09.

About J. M. Smucker

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.