QRG Capital Management Inc. Sells 840 Shares of The J. M. Smucker Company (NYSE:SJM)

QRG Capital Management Inc. lessened its stake in shares of The J. M. Smucker Company (NYSE:SJM) by 17.1% in the third quarter, Holdings Channel reports. The institutional investor owned 4,086 shares of the company’s stock after selling 840 shares during the period. QRG Capital Management Inc.’s holdings in J. M. Smucker were worth $495,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Studio Investment Management LLC bought a new position in J. M. Smucker in the 2nd quarter worth about $26,000. Quarry LP lifted its stake in shares of J. M. Smucker by 212.6% in the second quarter. Quarry LP now owns 322 shares of the company’s stock worth $35,000 after buying an additional 219 shares in the last quarter. Eastern Bank purchased a new stake in shares of J. M. Smucker during the third quarter valued at approximately $40,000. Rothschild Investment LLC bought a new stake in shares of J. M. Smucker during the second quarter valued at approximately $42,000. Finally, Trivant Custom Portfolio Group LLC purchased a new position in J. M. Smucker in the 3rd quarter worth approximately $42,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

J. M. Smucker Stock Performance

NYSE:SJM opened at $115.45 on Monday. The stock has a 50-day simple moving average of $118.07 and a two-hundred day simple moving average of $115.70. 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 52-week low of $105.69 and a 52-week high of $134.62. The firm has a market capitalization of $12.28 billion, a PE ratio of 16.33, a P/E/G ratio of 3.30 and a beta of 0.25.

J. M. Smucker (NYSE:SJM) last issued 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 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 in the previous year, the firm earned $2.21 earnings per share. Analysts forecast that The J. M. Smucker Company will post 9.8 EPS for the current year.

J. M. Smucker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be issued a dividend of $1.08 per share. The ex-dividend date is Friday, November 15th. This represents a $4.32 dividend on an annualized basis and a yield of 3.74%. J. M. Smucker’s dividend payout ratio is presently 61.10%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SJM. StockNews.com raised J. M. Smucker from a “sell” rating to a “hold” rating in a report on Monday, September 30th. Citigroup decreased their target price on J. M. Smucker from $138.00 to $136.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Bank of America dropped their price target on shares of J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. DA Davidson reissued a “neutral” rating and set a $121.00 price objective on shares of J. M. Smucker in a report on Thursday, August 29th. Finally, BNP Paribas upgraded shares of J. M. Smucker to a “strong sell” rating in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, J. M. Smucker 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.