Advisors Asset Management Inc. Increases Stake in The J. M. Smucker Company (NYSE:SJM)

Advisors Asset Management Inc. increased its position in shares of The J. M. Smucker Company (NYSE:SJM) by 32.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,302 shares of the company’s stock after purchasing an additional 2,518 shares during the period. Advisors Asset Management Inc.’s holdings in J. M. Smucker were worth $1,248,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Studio Investment Management LLC bought a new position in shares of J. M. Smucker during the second quarter valued at approximately $26,000. Venturi Wealth Management LLC grew its position in J. M. Smucker by 1,329.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 243 shares of the company’s stock valued at $29,000 after acquiring an additional 226 shares during the last quarter. Quarry LP increased its stake in 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 purchasing an additional 219 shares during the period. Catalyst Capital Advisors LLC bought a new stake in shares of J. M. Smucker during the third quarter worth $39,000. Finally, Eastern Bank purchased a new stake in shares of J. M. Smucker during the third quarter valued at $40,000. 81.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SJM has been the topic of several recent analyst reports. StockNews.com raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Monday, September 30th. Barclays reduced their target price on shares of J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating on the stock in a research report on Friday, August 30th. Wells Fargo & Company dropped their price objective on J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, August 29th. BNP Paribas upgraded J. M. Smucker to a “strong sell” rating in a report on Thursday, August 29th. Finally, Stifel Nicolaus cut J. M. Smucker from a “buy” rating to a “hold” rating and lowered their target price for the stock from $135.00 to $125.00 in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, J. M. Smucker has a consensus rating of “Hold” and a consensus target price of $127.09.

J. M. Smucker Price Performance

SJM opened at $113.65 on Tuesday. The firm has a market capitalization of $12.09 billion, a PE ratio of 16.07, a price-to-earnings-growth ratio of 3.18 and a beta of 0.25. The business’s 50-day moving average is $116.42 and its two-hundred day moving average is $115.55. The J. M. Smucker Company has a 1 year low of $105.69 and a 1 year high of $134.62. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.55 and a quick ratio of 0.25.

J. M. Smucker (NYSE:SJM) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $2.44 EPS for the quarter, topping the consensus estimate of $2.17 by $0.27. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the business posted $2.21 EPS. J. M. Smucker’s revenue was up 17.7% on a year-over-year basis. Research analysts anticipate that The J. M. Smucker Company will post 9.79 earnings per share for the current fiscal year.

J. M. Smucker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be given 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 dividend yield of 3.80%. J. M. Smucker’s payout ratio is 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.