CENTRAL TRUST Co Sells 1,293 Shares of The J. M. Smucker Company (NYSE:SJM)

CENTRAL TRUST Co reduced its position in shares of The J. M. Smucker Company (NYSE:SJM) by 29.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 3,056 shares of the company’s stock after selling 1,293 shares during the quarter. CENTRAL TRUST Co’s holdings in J. M. Smucker were worth $370,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Studio Investment Management LLC bought a new position in J. M. Smucker during the second quarter valued at $26,000. Quarry LP lifted its holdings in shares of J. M. Smucker by 212.6% in 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 last quarter. Eastern Bank purchased a new position in J. M. Smucker in the third quarter worth about $40,000. Rothschild Investment LLC bought a new stake in J. M. Smucker during the second quarter worth approximately $42,000. Finally, Trivant Custom Portfolio Group LLC purchased a new stake in J. M. Smucker during the third quarter valued at approximately $42,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SJM has been the subject of a number of recent research reports. DA Davidson reiterated a “neutral” rating and issued a $121.00 target price on shares of J. M. Smucker in a report on Thursday, August 29th. Barclays dropped their price objective on shares of 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. Bank of America reduced their target price on shares of J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Wells Fargo & Company dropped their price target on shares of J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, August 29th. Finally, Citigroup cut their price target 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 issued a buy rating to the company. According to MarketBeat.com, J. M. Smucker presently has a consensus rating of “Hold” and an average target price of $126.42.

J. M. Smucker Stock Performance

J. M. Smucker stock opened at $116.07 on Friday. The J. M. Smucker Company has a fifty-two week low of $105.69 and a fifty-two week high of $134.62. The company has a market capitalization of $12.33 billion, a PE ratio of 16.30, a P/E/G ratio of 3.12 and a beta of 0.24. The company has a 50 day moving average price of $118.99 and a 200-day moving average price of $115.58. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.25 and a current ratio of 0.55.

J. M. Smucker (NYSE:SJM) last posted 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 business had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.21 EPS. As a group, equities analysts forecast that The J. M. Smucker Company will post 9.82 earnings per share for the current year.

J. M. Smucker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend is Friday, November 15th. J. M. Smucker’s payout ratio is currently 60.67%.

J. M. Smucker Company 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.