Kentucky Retirement Systems Insurance Trust Fund Trims Position in The J. M. Smucker Company (NYSE:SJM)

Kentucky Retirement Systems Insurance Trust Fund decreased its holdings in The J. M. Smucker Company (NYSE:SJM) by 8.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,151 shares of the company’s stock after selling 274 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in J. M. Smucker were worth $382,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Studio Investment Management LLC bought a new stake in shares of J. M. Smucker in the 2nd quarter valued at approximately $26,000. Venturi Wealth Management LLC raised its position in J. M. Smucker by 1,329.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 243 shares of the company’s stock valued at $29,000 after purchasing an additional 226 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in J. M. Smucker during the 3rd quarter valued at $39,000. Quarry LP increased 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 period. Finally, Eastern Bank purchased a new position in shares of J. M. Smucker in the 3rd quarter valued at $40,000. Institutional investors own 81.66% of the company’s stock.

J. M. Smucker Stock Performance

NYSE SJM opened at $111.91 on Wednesday. The stock has a market capitalization of $11.91 billion, a price-to-earnings ratio of 15.83, a PEG 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. 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 stock has a 50-day moving average of $116.91 and a 200 day moving average of $115.55.

J. M. Smucker (NYSE:SJM) last released its quarterly earnings results 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 company 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%. J. M. Smucker’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.21 EPS. Sell-side analysts anticipate that The J. M. Smucker Company will post 9.8 EPS for the current fiscal year.

J. M. Smucker Dividend Announcement

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

Analyst Upgrades and Downgrades

SJM has been the topic of several research analyst reports. TD Cowen dropped their target price 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. BNP Paribas raised J. M. Smucker to a “strong sell” rating in a report on Thursday, August 29th. DA Davidson reissued a “neutral” rating and issued a $121.00 price objective on shares of J. M. Smucker in a report on Thursday, August 29th. StockNews.com raised J. M. Smucker from a “sell” rating to a “hold” rating in a report on Monday, September 30th. Finally, Bank of America decreased their price objective on J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $127.09.

J. M. Smucker 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.