Gulf International Bank UK Ltd Trims Stake in The J. M. Smucker Company (NYSE:SJM)

Gulf International Bank UK Ltd lowered its holdings in The J. M. Smucker Company (NYSE:SJM) by 3.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 8,481 shares of the company’s stock after selling 293 shares during the quarter. Gulf International Bank UK Ltd’s holdings in J. M. Smucker were worth $1,027,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of SJM. Boston Partners bought a new stake in J. M. Smucker during the first quarter valued at approximately $364,990,000. Bank of Montreal Can raised its position in shares of J. M. Smucker by 186.3% during the 2nd quarter. Bank of Montreal Can now owns 805,029 shares of the company’s stock valued at $90,195,000 after buying an additional 523,803 shares in the last quarter. Ariel Investments LLC lifted its holdings in shares of J. M. Smucker by 56.0% during the 2nd quarter. Ariel Investments LLC now owns 1,354,999 shares of the company’s stock worth $147,749,000 after acquiring an additional 486,624 shares during the last quarter. Ilex Capital Partners UK LLP purchased a new position in J. M. Smucker in the first quarter worth $48,207,000. Finally, Champlain Investment Partners LLC increased its stake in J. M. Smucker by 29.0% in the first quarter. Champlain Investment Partners LLC now owns 1,457,995 shares of the company’s stock valued at $183,518,000 after acquiring an additional 327,680 shares during the last quarter. Institutional investors own 81.66% of the company’s stock.

J. M. Smucker Stock Up 0.2 %

NYSE SJM opened at $115.45 on Friday. The business’s 50-day moving average is $118.07 and its 200 day moving average is $115.73. The stock has a market capitalization of $12.29 billion, a PE ratio of 16.33, a PEG ratio of 3.30 and a beta of 0.25. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.55 and a quick ratio of 0.25. The J. M. Smucker Company has a 1 year low of $105.69 and a 1 year high of $134.62.

J. M. Smucker (NYSE:SJM) last issued its quarterly earnings data 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. The firm had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. J. M. Smucker had a return on equity of 14.22% and a net margin of 8.77%. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period last year, the company earned $2.21 EPS. Sell-side analysts forecast that The J. M. Smucker Company will post 9.8 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. Shareholders of record on Friday, November 15th will be issued a $1.08 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.32 annualized dividend and a yield of 3.74%. J. M. Smucker’s dividend payout ratio (DPR) is presently 61.10%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SJM shares. Citigroup dropped their price target on J. M. Smucker from $138.00 to $136.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. DA Davidson reaffirmed a “neutral” rating and issued a $121.00 target price on shares of J. M. Smucker in a research note on Thursday, August 29th. Barclays decreased their price target on shares of J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating on the stock in a research note on Friday, August 30th. TD Cowen cut their price objective on shares of 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. Finally, Stifel Nicolaus cut shares of J. M. Smucker from a “buy” rating to a “hold” rating and decreased their target price for the stock from $135.00 to $125.00 in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target 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.