Bank of Montreal Can Cuts Stock Position in The J. M. Smucker Company (NYSE:SJM)

Bank of Montreal Can lessened its holdings in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 9.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 732,344 shares of the company's stock after selling 72,685 shares during the period. Bank of Montreal Can owned approximately 0.69% of J. M. Smucker worth $88,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SJM. Probity Advisors Inc. lifted 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 purchasing an additional 96 shares during the period. Anchor Investment Management LLC boosted its stake in shares of J. M. Smucker by 0.5% during the 2nd quarter. Anchor Investment Management LLC now owns 19,791 shares of the company's stock worth $2,158,000 after acquiring 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% during the 2nd quarter. State of Michigan Retirement System now owns 33,561 shares of the company's stock valued at $3,659,000 after acquiring an additional 100 shares during the period. Romano Brothers AND Company increased its stake in shares of J. M. Smucker by 3.5% in the 3rd quarter. Romano Brothers AND Company now owns 2,987 shares of the company's stock valued at $362,000 after purchasing an additional 100 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in J. M. Smucker by 11.0% in the 3rd quarter. Blue Trust Inc. now owns 1,032 shares of the company's stock worth $125,000 after purchasing an additional 102 shares during the period. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SJM has been the subject of a number of recent analyst reports. Bank of America cut their price objective on 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. Stifel Nicolaus cut shares of J. M. Smucker from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $135.00 to $125.00 in a research report on Friday, October 25th. BNP Paribas upgraded shares of J. M. Smucker to a "strong sell" rating in a research report on Thursday, August 29th. TD Cowen cut their target price on shares of J. M. Smucker from $135.00 to $132.00 and set a "buy" rating for the company in a research note on Thursday, August 29th. Finally, DA Davidson reaffirmed a "neutral" rating and issued a $121.00 price target on shares of J. M. Smucker in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $127.09.

J. M. Smucker Trading Down 0.4 %

J. M. Smucker stock traded down $0.49 during trading on Wednesday, reaching $119.60. 111,259 shares of the company were exchanged, compared to its average volume of 1,172,214. 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 market capitalization of $12.73 billion, a P/E ratio of 16.99, a PEG ratio of 3.19 and a beta of 0.25. The stock's 50 day simple moving average is $116.42 and its two-hundred day simple moving average is $115.55. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.55 and a quick ratio of 0.25.

J. M. Smucker (NYSE:SJM - Get Free Report) last posted its earnings results on Tuesday, November 26th. The company reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.27. The company had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.27 billion. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. J. M. Smucker's revenue was up 17.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.59 EPS. On average, equities research analysts expect that The J. M. Smucker Company will post 9.79 earnings per share for the current fiscal year.

J. M. Smucker Announces Dividend

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 given a $1.08 dividend. The ex-dividend date is Friday, November 15th. This represents a $4.32 dividend on an annualized basis and a yield of 3.61%. J. M. Smucker's dividend payout ratio is currently 61.10%.

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.