Swiss National Bank Boosts Position in The J. M. Smucker Company (NYSE:SJM)

Swiss National Bank raised its position in The J. M. Smucker Company (NYSE:SJM) by 0.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 315,865 shares of the company’s stock after acquiring an additional 1,500 shares during the quarter. Swiss National Bank owned approximately 0.30% of J. M. Smucker worth $38,251,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of SJM. Studio Investment Management LLC purchased a new position in shares of J. M. Smucker in the second quarter worth approximately $26,000. Venturi Wealth Management LLC boosted its stake in shares of J. M. Smucker by 1,329.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 243 shares of the company’s stock worth $29,000 after acquiring an additional 226 shares during the last quarter. Quarry LP grew its position in shares of J. M. Smucker by 212.6% during 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. Catalyst Capital Advisors LLC purchased a new stake in shares of J. M. Smucker in the 3rd quarter worth $39,000. Finally, Eastern Bank purchased a new position in J. M. Smucker during the third quarter valued at $40,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

J. M. Smucker Stock Up 0.1 %

NYSE SJM opened at $112.04 on Thursday. The stock has a 50 day moving average price of $116.80 and a 200-day moving average price of $115.53. The J. M. Smucker Company has a one year low of $105.69 and a one year high of $134.62. The company has a market capitalization of $11.92 billion, a P/E ratio of 15.85, a P/E/G ratio of 3.17 and a beta of 0.25. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.25 and a current ratio of 0.55.

J. M. Smucker (NYSE:SJM) last announced its earnings results on Wednesday, August 28th. The company reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.27. The firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.13 billion. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. The business’s revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.21 EPS. As a group, equities analysts predict that The J. M. Smucker Company will post 9.79 EPS for the current fiscal year.

J. M. Smucker Announces Dividend

The business 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 dividend of $1.08 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.32 annualized dividend and a yield of 3.86%. J. M. Smucker’s payout ratio is presently 61.10%.

Analysts Set New Price Targets

Several research analysts have recently commented on SJM shares. TD Cowen decreased 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. Wells Fargo & Company dropped their price target on shares of J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, August 29th. DA Davidson restated a “neutral” rating and set a $121.00 price objective on shares of J. M. Smucker in a research 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, Barclays dropped their price target on J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating for the company in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $127.09.

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.