Wealth Enhancement Advisory Services LLC Increases Stake in The J. M. Smucker Company (NYSE:SJM)

Wealth Enhancement Advisory Services LLC raised its stake in The J. M. Smucker Company (NYSE:SJM) by 23.6% in the third quarter, HoldingsChannel reports. The fund owned 20,421 shares of the company’s stock after purchasing an additional 3,899 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in J. M. Smucker were worth $2,473,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. 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 increased its holdings 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 buying an additional 99 shares in the last quarter. State of Michigan Retirement System raised its position in shares of J. M. Smucker by 0.3% in the second quarter. State of Michigan Retirement System now owns 33,561 shares of the company’s stock worth $3,659,000 after acquiring an additional 100 shares during the period. Romano Brothers AND Company boosted its stake 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 acquiring an additional 100 shares in the last quarter. Finally, Blue Trust Inc. grew its position in shares of J. M. Smucker by 11.0% during the 3rd quarter. Blue Trust Inc. now owns 1,032 shares of the company’s stock valued at $125,000 after acquiring an additional 102 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

J. M. Smucker Trading Down 0.5 %

SJM opened at $112.92 on Friday. The firm has a market capitalization of $12.02 billion, a price-to-earnings ratio of 15.97, a price-to-earnings-growth ratio of 3.24 and a beta of 0.25. The company’s 50 day simple moving average is $118.25 and its two-hundred day simple moving average is $115.64. The J. M. Smucker Company has a 1-year low of $105.69 and a 1-year high of $134.62. 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) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.27. The firm 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 firm’s revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.21 earnings per share. Analysts expect that The J. M. Smucker Company will post 9.8 EPS for the current fiscal year.

J. M. Smucker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend is Friday, November 15th. J. M. Smucker’s dividend payout ratio is currently 61.10%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SJM shares. BNP Paribas raised J. M. Smucker to a “strong sell” rating in a report on Thursday, August 29th. TD Cowen reduced their target price on 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. StockNews.com raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Monday, September 30th. DA Davidson restated a “neutral” rating and set a $121.00 price objective on shares of J. M. Smucker in a research report on Thursday, August 29th. Finally, Citigroup decreased their price objective on shares of J. M. Smucker from $138.00 to $136.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $126.42.

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.