Vestcor Inc Has $276,000 Stock Position in The J. M. Smucker Company (NYSE:SJM)

Vestcor Inc cut its position in shares of The J. M. Smucker Company (NYSE:SJM - Free Report) by 92.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,279 shares of the company's stock after selling 29,976 shares during the period. Vestcor Inc's holdings in J. M. Smucker were worth $276,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SJM. Studio Investment Management LLC bought a new stake in J. M. Smucker in the second quarter valued at approximately $26,000. Venturi Wealth Management LLC raised its stake in 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 acquiring an additional 226 shares during the period. Quarry LP lifted its holdings in 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 during the last quarter. Catalyst Capital Advisors LLC bought a new position in J. M. Smucker during the third quarter worth $39,000. Finally, Eastern Bank acquired a new position in shares of J. M. Smucker in the third quarter valued at $40,000. 81.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the stock. DA Davidson reaffirmed a "neutral" rating and set a $121.00 target price on shares of J. M. Smucker in a report on Thursday, August 29th. Wells Fargo & Company boosted their price target on J. M. Smucker from $130.00 to $135.00 and gave the company an "overweight" rating in a research note on Wednesday, November 27th. StockNews.com upgraded J. M. Smucker from a "sell" rating to a "hold" rating in a research report on Monday, September 30th. TD Cowen reduced 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 report on Thursday, August 29th. Finally, Bank of America lowered their price target on shares of J. M. Smucker from $130.00 to $122.00 and set a "neutral" rating on the stock in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $128.56.

J. M. Smucker Price Performance

Shares of J. M. Smucker stock traded up $0.01 on Friday, reaching $113.53. 1,083,608 shares of the stock were exchanged, compared to its average volume of 1,440,458. 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 firm has a market cap of $12.08 billion, a PE ratio of 22.98, a P/E/G ratio of 3.46 and a beta of 0.26. The firm's 50 day moving average is $115.68 and its 200-day moving average is $115.90. The J. M. Smucker Company has a one year low of $105.69 and a one year high of $134.62.

J. M. Smucker (NYSE:SJM - Get Free Report) last issued its quarterly earnings results on Tuesday, November 26th. The company reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.51 by $0.25. J. M. Smucker had a return on equity of 14.35% and a net margin of 5.96%. The company had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter last year, the company posted $2.59 EPS. The company's revenue for the quarter was up 17.2% compared to the same quarter last year. As a group, analysts anticipate that The J. M. Smucker Company will post 9.89 EPS for the current fiscal year.

J. M. Smucker Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were issued a $1.08 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.81%. J. M. Smucker's dividend payout ratio (DPR) is currently 87.45%.

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.