Quest Partners LLC boosted its position in The J. M. Smucker Company (NYSE:SJM - Free Report) by 1,868.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,188 shares of the company's stock after purchasing an additional 7,772 shares during the quarter. Quest Partners LLC's holdings in J. M. Smucker were worth $992,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Studio Investment Management LLC acquired a new position in shares of J. M. Smucker during the 2nd quarter worth $26,000. Venturi Wealth Management LLC grew its position in shares of J. M. Smucker by 1,329.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 243 shares of the company's stock valued at $29,000 after buying an additional 226 shares during the last quarter. Quarry LP boosted its position in shares of J. M. Smucker by 212.6% during the 2nd quarter. Quarry LP now owns 322 shares of the company's stock valued at $35,000 after purchasing an additional 219 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of J. M. Smucker during the 3rd quarter valued at about $39,000. Finally, Eastern Bank bought a new stake in shares of J. M. Smucker during the 3rd quarter valued at about $40,000. 81.66% of the stock is owned by institutional investors and hedge funds.
J. M. Smucker Price Performance
J. M. Smucker stock opened at $112.04 on Thursday. The J. M. Smucker Company has a one year low of $105.69 and a one year high of $134.62. The business has a fifty day moving average price of $116.80 and a 200-day moving average price of $115.53. 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 firm has a market capitalization of $11.92 billion, a P/E ratio of 15.85, a PEG ratio of 3.21 and a beta of 0.25.
J. M. Smucker (NYSE:SJM - Get Free Report) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $2.44 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period last year, the company earned $2.21 earnings per share. The business's revenue for the quarter was up 17.7% on a year-over-year basis. As a group, equities research analysts forecast that The J. M. Smucker Company will post 9.79 EPS for the current 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 dividend on an annualized basis and a dividend yield of 3.86%. J. M. Smucker's dividend payout ratio (DPR) is presently 61.10%.
Analysts Set New Price Targets
SJM has been the topic of a number of research reports. Bank of America dropped their price target on J. M. Smucker from $130.00 to $122.00 and set a "neutral" rating on the stock in a research note on Thursday, August 29th. Barclays lowered their price objective on J. M. Smucker from $123.00 to $121.00 and set an "equal weight" rating for the company in a research note on Friday, August 30th. StockNews.com raised J. M. Smucker from a "sell" rating to a "hold" rating in a research report on Monday, September 30th. TD Cowen decreased their price target on 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, Wells Fargo & Company decreased their price target on J. M. Smucker from $140.00 to $130.00 and set an "overweight" rating for the company in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $127.09.
Check Out Our Latest Analysis on SJM
About J. M. Smucker
(
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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