State Street Corp Grows Stock Holdings in The J. M. Smucker Company (NYSE:SJM)

State Street Corp boosted its holdings in The J. M. Smucker Company (NYSE:SJM - Free Report) by 12.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,111,023 shares of the company's stock after purchasing an additional 762,746 shares during the quarter. State Street Corp owned about 6.68% of J. M. Smucker worth $861,145,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Probity Advisors Inc. increased its stake in shares of J. M. Smucker by 1.1% in 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 in the last quarter. Anchor Investment Management LLC increased its stake in J. M. Smucker by 0.5% in the second quarter. Anchor Investment Management LLC now owns 19,791 shares of the company's stock valued at $2,158,000 after purchasing an additional 99 shares in the last quarter. State of Michigan Retirement System raised its holdings in shares of J. M. Smucker by 0.3% during the second quarter. State of Michigan Retirement System now owns 33,561 shares of the company's stock valued at $3,659,000 after purchasing an additional 100 shares during the period. Romano Brothers AND Company boosted its position in shares of 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 purchasing an additional 100 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of J. M. Smucker by 11.0% in the 3rd quarter. Blue Trust Inc. now owns 1,032 shares of the company's stock valued at $125,000 after buying an additional 102 shares during the period. 81.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SJM shares. StockNews.com raised J. M. Smucker from a "sell" rating to a "hold" rating in a research note on Monday, September 30th. BNP Paribas raised J. M. Smucker to a "strong sell" rating in a research report on Thursday, August 29th. 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 research report on Thursday, August 29th. 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 report on Thursday, August 29th. Finally, Stifel Nicolaus cut shares of J. M. Smucker from a "buy" rating to a "hold" rating and reduced their price objective 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, six have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $128.56.

J. M. Smucker Stock Down 0.2 %

Shares of SJM traded down $0.21 during trading hours on Friday, reaching $116.46. 1,103,530 shares of the stock traded hands, compared to its average volume of 1,424,732. 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 current ratio of 0.58, a quick ratio of 0.27 and a debt-to-equity ratio of 0.89. The stock has a fifty day simple moving average of $116.14 and a 200 day simple moving average of $115.74. The company has a market cap of $12.39 billion, a price-to-earnings ratio of 23.57, a PEG ratio of 3.27 and a beta of 0.26.

J. M. Smucker (NYSE:SJM - Get Free Report) last posted its earnings results on Tuesday, November 26th. The company reported $2.76 EPS for the quarter, topping the consensus estimate of $2.51 by $0.25. The firm had revenue of $2.27 billion for the quarter, compared to analysts' expectations of $2.27 billion. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.35%. The company's quarterly revenue was up 17.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.59 EPS. On average, equities analysts forecast that The J. M. Smucker Company will post 9.9 EPS for the current year.

J. M. Smucker Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend was Friday, November 15th. J. M. Smucker's dividend payout ratio is currently 87.45%.

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.