CWA Asset Management Group LLC Purchases Shares of 2,221 The J. M. Smucker Company (NYSE:SJM)

CWA Asset Management Group LLC acquired a new position in The J. M. Smucker Company (NYSE:SJM) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,221 shares of the company’s stock, valued at approximately $269,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Studio Investment Management LLC bought a new stake in J. M. Smucker during the second quarter valued at about $26,000. Catalyst Capital Advisors LLC bought a new stake in J. M. Smucker during the 3rd quarter valued at approximately $39,000. Quarry LP lifted its holdings in J. M. Smucker by 212.6% in the 2nd quarter. Quarry LP now owns 322 shares of the company’s stock worth $35,000 after purchasing an additional 219 shares in the last quarter. Eastern Bank bought a new position in J. M. Smucker in the 3rd quarter worth approximately $40,000. Finally, Trivant Custom Portfolio Group LLC purchased a new stake in J. M. Smucker during the 3rd quarter valued at approximately $42,000. 81.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on SJM shares. Bank of America dropped their target price 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. Citigroup dropped their price objective on shares of J. M. Smucker from $138.00 to $136.00 and set a “buy” rating for the company in a report 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 report on Thursday, August 29th. BNP Paribas raised J. M. Smucker to a “strong sell” rating in a research note on Thursday, August 29th. Finally, TD Cowen reduced their price objective on J. M. Smucker from $135.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, J. M. Smucker currently has a consensus rating of “Hold” and a consensus target price of $126.42.

J. M. Smucker Price Performance

J. M. Smucker stock opened at $111.95 on Wednesday. The J. M. Smucker Company has a 12-month low of $105.69 and a 12-month high of $134.62. 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 firm has a 50-day moving average price of $117.92 and a 200-day moving average price of $115.68. The firm has a market capitalization of $11.91 billion, a PE ratio of 15.83, a price-to-earnings-growth 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, topping the consensus estimate of $2.17 by $0.27. The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. J. M. Smucker had a return on equity of 14.22% and a net margin of 8.77%. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.21 earnings per share. As a group, equities research analysts forecast that The J. M. Smucker Company will post 9.8 EPS for the current year.

J. M. Smucker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date is Friday, November 15th. J. M. Smucker’s payout ratio is presently 61.10%.

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.