Raymond James & Associates Acquires 18,767 Shares of The J. M. Smucker Company (NYSE:SJM)

Raymond James & Associates lifted its holdings in shares of The J. M. Smucker Company (NYSE:SJM) by 7.8% during the 3rd quarter, Holdings Channel reports. The firm owned 259,394 shares of the company’s stock after purchasing an additional 18,767 shares during the quarter. Raymond James & Associates’ holdings in J. M. Smucker were worth $31,413,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Studio Investment Management LLC bought a new position in shares of J. M. Smucker during the 2nd quarter worth approximately $26,000. Quarry LP lifted its position in shares of 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 acquiring an additional 219 shares during the period. Rothschild Investment LLC bought a new position in J. M. Smucker during the second quarter worth $42,000. Trivant Custom Portfolio Group LLC acquired a new stake in J. M. Smucker in the third quarter worth $42,000. Finally, Central Valley Advisors LLC bought a new stake in J. M. Smucker in the second quarter valued at $45,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

J. M. Smucker Stock Performance

Shares of J. M. Smucker stock opened at $117.70 on Thursday. The business’s fifty day simple moving average is $119.13 and its 200 day simple moving average is $115.57. The company has a current ratio of 0.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.87. The J. M. Smucker Company has a 12 month low of $105.69 and a 12 month high of $134.62. The firm has a market capitalization of $12.50 billion, a P/E ratio of 16.53, a price-to-earnings-growth ratio of 3.22 and a beta of 0.24.

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on SJM shares. Barclays reduced their target price on J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating for the company in a research note on Friday, August 30th. 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 shares of J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating for the company in a research 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. Finally, BNP Paribas raised shares of J. M. Smucker to a “strong sell” rating in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $127.25.

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.