Richard C. Young & CO. LTD. trimmed its holdings in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 46.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,615 shares of the company's stock after selling 7,397 shares during the quarter. Richard C. Young & CO. LTD.'s holdings in J. M. Smucker were worth $1,043,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Studio Investment Management LLC purchased a new stake in J. M. Smucker in the 2nd quarter valued at about $26,000. Venturi Wealth Management LLC boosted its holdings in shares of J. M. Smucker by 1,329.4% in the third quarter. Venturi Wealth Management LLC now owns 243 shares of the company's stock valued at $29,000 after purchasing an additional 226 shares during the period. Quarry LP grew its stake in J. M. Smucker by 212.6% in the second quarter. Quarry LP now owns 322 shares of the company's stock worth $35,000 after purchasing an additional 219 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in J. M. Smucker during the 3rd quarter worth $39,000. Finally, Eastern Bank bought a new stake in J. M. Smucker during the 3rd quarter valued at $40,000. 81.66% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities analysts have recently commented on the company. Barclays cut their price target on J. M. Smucker from $123.00 to $121.00 and set an "equal weight" rating on the stock in a research note on Friday, August 30th. Bank of America reduced their price target on shares of J. M. Smucker from $130.00 to $122.00 and set a "neutral" rating for the company in a report on Thursday, August 29th. Wells Fargo & Company cut their price objective 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. TD Cowen lowered their target price on J. M. Smucker from $135.00 to $132.00 and set a "buy" rating for the company in a report on Thursday, August 29th. Finally, Stifel Nicolaus downgraded J. M. Smucker from a "buy" rating to a "hold" rating and cut their price target for the company from $135.00 to $125.00 in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $127.09.
View Our Latest Report on SJM
J. M. Smucker Stock Performance
Shares of NYSE:SJM traded up $3.30 on Monday, hitting $110.22. 830,122 shares of the company were exchanged, compared to its average volume of 1,154,855. 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 stock's 50 day moving average price is $117.25 and its 200 day moving average price is $115.58. The J. M. Smucker Company has a 1-year low of $105.69 and a 1-year high of $134.62. The firm has a market capitalization of $11.73 billion, a P/E ratio of 15.12, a price-to-earnings-growth ratio of 3.06 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 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.27. The business had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. J. M. Smucker had a return on equity of 14.22% and a net margin of 8.77%. The company's quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.21 EPS. Sell-side analysts predict that The J. M. Smucker Company will post 9.8 EPS for the current year.
J. M. Smucker Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be issued 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 3.92%. J. M. Smucker's dividend payout ratio (DPR) is presently 61.10%.
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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