Tobam Sells 31,377 Shares of The J. M. Smucker Company (NYSE:SJM)

Tobam decreased its holdings in The J. M. Smucker Company (NYSE:SJM) by 27.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 82,867 shares of the company’s stock after selling 31,377 shares during the period. J. M. Smucker comprises approximately 1.9% of Tobam’s investment portfolio, making the stock its 16th biggest holding. Tobam’s holdings in J. M. Smucker were worth $10,035,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of J. M. Smucker by 4.0% during the fourth quarter. Vanguard Group Inc. now owns 13,471,395 shares of the company’s stock worth $1,702,515,000 after purchasing an additional 518,433 shares in the last quarter. AMF Tjanstepension AB acquired a new position in shares of J. M. Smucker in the 1st quarter valued at $23,990,000. Goldman Sachs Group Inc. increased its position in shares of J. M. Smucker by 23.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 419,134 shares of the company’s stock valued at $52,970,000 after acquiring an additional 78,807 shares during the period. Assenagon Asset Management S.A. increased its position in shares of J. M. Smucker by 6,703.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 159,873 shares of the company’s stock valued at $17,433,000 after acquiring an additional 157,523 shares during the period. Finally, Cetera Investment Advisers increased its position in shares of J. M. Smucker by 62.0% in the 1st quarter. Cetera Investment Advisers now owns 24,174 shares of the company’s stock valued at $3,043,000 after acquiring an additional 9,250 shares during the period. Institutional investors own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SJM. Bank of America cut their target price on 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. TD Cowen lowered their price target on shares of J. M. Smucker from $135.00 to $132.00 and set a “buy” rating on the stock in a report 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. Citigroup lowered their target price on shares of J. M. Smucker from $138.00 to $136.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, Wells Fargo & Company lowered their target price on shares of J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $127.25.

J. M. Smucker Price Performance

SJM traded down $0.66 during trading on Thursday, reaching $116.55. The company’s stock had a trading volume of 157,991 shares, compared to its average volume of 1,186,056. The company has a quick ratio of 0.25, a current ratio of 0.55 and a debt-to-equity ratio of 0.87. The firm has a fifty day simple moving average of $119.11 and a two-hundred day simple moving average of $115.83. 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 market cap of $12.38 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 3.11 and a beta of 0.24.

J. M. Smucker (NYSE:SJM) last released its earnings results on Wednesday, August 28th. The company reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.27. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period last year, the company posted $2.21 EPS. The business’s revenue was up 17.7% on a year-over-year basis. As a group, analysts anticipate that The J. M. Smucker Company will post 9.82 EPS for the current year.

J. M. Smucker Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th were given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend was Friday, August 16th. This is a positive change from J. M. Smucker’s previous quarterly dividend of $1.06. J. M. Smucker’s payout ratio is presently 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.