CIBC Asset Management Inc Buys 1,176 Shares of The J. M. Smucker Company (NYSE:SJM)

CIBC Asset Management Inc raised its stake in shares of The J. M. Smucker Company (NYSE:SJM) by 6.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,139 shares of the company’s stock after acquiring an additional 1,176 shares during the period. CIBC Asset Management Inc’s holdings in J. M. Smucker were worth $2,197,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Boston Partners purchased a new position in J. M. Smucker during the first quarter worth about $364,990,000. Dimensional Fund Advisors LP boosted its stake in shares of J. M. Smucker by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,783,183 shares of the company’s stock worth $194,435,000 after buying an additional 135,158 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of J. M. Smucker by 14.4% in the 2nd quarter. ProShare Advisors LLC now owns 1,526,074 shares of the company’s stock worth $166,403,000 after buying an additional 192,075 shares during the last quarter. Ariel Investments LLC grew its holdings in shares of J. M. Smucker by 56.0% in the second quarter. Ariel Investments LLC now owns 1,354,999 shares of the company’s stock valued at $147,749,000 after acquiring an additional 486,624 shares in the last quarter. Finally, Bank of Montreal Can increased its position in shares of J. M. Smucker by 186.3% during the second quarter. Bank of Montreal Can now owns 805,029 shares of the company’s stock valued at $90,195,000 after acquiring an additional 523,803 shares during the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

J. M. Smucker Trading Up 1.3 %

Shares of SJM opened at $111.91 on Wednesday. The business’s 50-day moving average price is $116.91 and its 200-day moving average price is $115.55. The company has a quick ratio of 0.25, a current ratio of 0.55 and a debt-to-equity ratio of 0.87. The stock has a market cap of $11.91 billion, a PE ratio of 15.83, a P/E/G ratio of 3.06 and a beta of 0.25. The J. M. Smucker Company has a twelve month low of $105.69 and a twelve month high of $134.62.

J. M. Smucker (NYSE:SJM) last posted its earnings results on Wednesday, August 28th. The company reported $2.44 EPS for the quarter, topping the consensus estimate of $2.17 by $0.27. The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.13 billion. J. M. Smucker had a return on equity of 14.22% and a net margin of 8.77%. The firm’s revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.21 earnings per share. On average, equities analysts forecast that The J. M. Smucker Company will post 9.8 EPS for the current fiscal year.

J. M. Smucker Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SJM. Barclays decreased 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 report on Friday, August 30th. Bank of America lowered their price objective on shares of J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. BNP Paribas upgraded shares of J. M. Smucker to a “strong sell” rating in a research note on Thursday, August 29th. TD Cowen dropped 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. Finally, StockNews.com raised J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, J. M. Smucker currently has a consensus rating of “Hold” and an average price target of $127.09.

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.