The Manufacturers Life Insurance Company Acquires 15,092 Shares of The J. M. Smucker Company (NYSE:SJM)

The Manufacturers Life Insurance Company lifted its position in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 21.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,462 shares of the company's stock after acquiring an additional 15,092 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.08% of J. M. Smucker worth $10,228,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cetera Investment Advisers lifted its stake in J. M. Smucker by 62.0% in the first quarter. Cetera Investment Advisers now owns 24,174 shares of the company's stock valued at $3,043,000 after purchasing an additional 9,250 shares during the last quarter. Cetera Advisors LLC boosted its holdings in J. M. Smucker by 21.1% in the 1st quarter. Cetera Advisors LLC now owns 11,906 shares of the company's stock worth $1,499,000 after buying an additional 2,077 shares during the period. DNB Asset Management AS boosted its holdings in shares of J. M. Smucker by 5.4% during the 2nd quarter. DNB Asset Management AS now owns 22,476 shares of the company's stock valued at $2,451,000 after purchasing an additional 1,159 shares during the last quarter. Mather Group LLC. raised its position in shares of J. M. Smucker by 8.4% during the 2nd quarter. Mather Group LLC. now owns 2,583 shares of the company's stock valued at $282,000 after buying an additional 200 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC raised its position in J. M. Smucker by 7.4% in the 2nd quarter. Kohmann Bosshard Financial Services LLC now owns 2,219 shares of the company's stock worth $242,000 after purchasing an additional 153 shares during the period. 81.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Bank of America lowered their target price on shares of J. M. Smucker from $130.00 to $122.00 and set a "neutral" rating for the company in a research note on Thursday, August 29th. Wells Fargo & Company raised their target price on shares of J. M. Smucker from $130.00 to $135.00 and gave the stock an "overweight" rating in a report on Wednesday, November 27th. BNP Paribas upgraded shares of J. M. Smucker to a "strong sell" rating in a research report on Thursday, August 29th. StockNews.com upgraded shares of J. M. Smucker from a "sell" rating to a "hold" rating in a report on Monday, September 30th. Finally, DA Davidson reissued 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 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. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $127.73.

J. M. Smucker Price Performance

Shares of NYSE:SJM traded down $1.85 during trading hours on Wednesday, hitting $115.44. 1,438,791 shares of the company's stock traded hands, compared to its average volume of 1,180,933. The company has a market cap of $12.29 billion, a price-to-earnings ratio of 23.26, a price-to-earnings-growth ratio of 3.37 and a beta of 0.26. The company's fifty day simple moving average is $116.35 and its two-hundred day simple moving average is $115.69. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.27 and a current ratio of 0.58. The J. M. Smucker Company has a 52 week low of $105.69 and a 52 week high of $134.62.

J. M. Smucker (NYSE:SJM - Get Free Report) last released its quarterly earnings results on Tuesday, November 26th. The company reported $2.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.51 by $0.25. The business had revenue of $2.27 billion during the quarter, compared to analysts' expectations of $2.27 billion. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. The firm's revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.59 earnings per share. As a group, equities analysts anticipate that The J. M. Smucker Company will post 9.88 EPS for the current fiscal year.

J. M. Smucker Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date 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.