Toronto Dominion Bank Cuts Stock Position in The J. M. Smucker Company (NYSE:SJM)

Toronto Dominion Bank trimmed its holdings in shares of The J. M. Smucker Company (NYSE:SJM) by 13.6% in the second quarter, Holdings Channel reports. The firm owned 51,799 shares of the company’s stock after selling 8,134 shares during the period. Toronto Dominion Bank’s holdings in J. M. Smucker were worth $5,648,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Tradition Wealth Management LLC grew its stake in shares of J. M. Smucker by 7.3% in the fourth quarter. Tradition Wealth Management LLC now owns 1,217 shares of the company’s stock valued at $154,000 after buying an additional 83 shares in the last quarter. Czech National Bank boosted its holdings in J. M. Smucker by 0.5% in the 1st quarter. Czech National Bank now owns 18,676 shares of the company’s stock worth $2,351,000 after acquiring an additional 88 shares during the period. Resonant Capital Advisors LLC grew its position in J. M. Smucker by 0.7% in the first quarter. Resonant Capital Advisors LLC now owns 14,328 shares of the company’s stock valued at $1,803,000 after acquiring an additional 93 shares in the last quarter. State of Michigan Retirement System raised its stake 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. Finally, PFG Investments LLC lifted its position in shares of J. M. Smucker by 5.9% during the second quarter. PFG Investments LLC now owns 1,959 shares of the company’s stock worth $214,000 after purchasing an additional 109 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SJM has been the subject of a number of recent analyst reports. TD Cowen lowered their price target on shares of J. M. Smucker from $135.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, August 29th. DA Davidson reaffirmed a “neutral” rating and set a $121.00 target price on shares of J. M. Smucker in a research report on Thursday, August 29th. Bank of America reduced their price target on J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Barclays dropped their price objective on J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating on the stock in a report on Friday, August 30th. Finally, BNP Paribas upgraded shares of J. M. Smucker to a “strong sell” rating in a research note on Thursday, August 29th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $127.25.

J. M. Smucker Trading Up 1.1 %

NYSE SJM opened at $121.15 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.25 and a current ratio of 0.55. The J. M. Smucker Company has a one year low of $105.69 and a one year high of $134.62. The company has a 50-day simple moving average of $118.93 and a 200-day simple moving average of $116.11. The firm has a market capitalization of $12.87 billion, a PE ratio of 17.02, a price-to-earnings-growth ratio of 3.11 and a beta of 0.24.

J. M. Smucker (NYSE:SJM) last issued its earnings results on Wednesday, August 28th. The company reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.17 by $0.27. The company had revenue of $2.13 billion during 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%. J. M. Smucker’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.21 earnings per share. On average, equities analysts forecast that The J. M. Smucker Company will post 9.82 earnings per share for the current year.

J. M. Smucker Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th were given a $1.08 dividend. The ex-dividend date was Friday, August 16th. This is a positive change from J. M. Smucker’s previous quarterly dividend of $1.06. This represents a $4.32 annualized dividend and a yield of 3.57%. J. M. Smucker’s dividend payout ratio (DPR) is currently 60.67%.

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.