Glenmede Trust Co. NA Sells 539 Shares of The J. M. Smucker Company (NYSE:SJM)

Glenmede Trust Co. NA decreased its stake in shares of The J. M. Smucker Company (NYSE:SJM) by 3.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 15,107 shares of the company’s stock after selling 539 shares during the quarter. Glenmede Trust Co. NA’s holdings in J. M. Smucker were worth $1,829,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in SJM. Studio Investment Management LLC bought a new position in shares of J. M. Smucker during the 2nd quarter worth about $26,000. Venturi Wealth Management LLC increased its stake in J. M. Smucker by 1,329.4% in the third 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 period. 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 valued at $35,000 after acquiring an additional 219 shares during the period. Catalyst Capital Advisors LLC bought a new stake in J. M. Smucker in the third quarter valued at about $39,000. Finally, Eastern Bank bought a new stake in J. M. Smucker in the third quarter valued at about $40,000. Institutional investors own 81.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SJM. BNP Paribas raised shares of J. M. Smucker to a “strong sell” rating in a research note on Thursday, August 29th. StockNews.com upgraded shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Monday, September 30th. Stifel Nicolaus lowered shares of J. M. Smucker from a “buy” rating to a “hold” rating and reduced their target price for the stock from $135.00 to $125.00 in a research report on Friday, October 25th. Citigroup dropped their price target on shares of J. M. Smucker from $138.00 to $136.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Finally, Barclays boosted their price target on shares of J. M. Smucker from $121.00 to $126.00 and gave the stock an “equal weight” rating in a research note on Friday. One equities 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $128.00.

J. M. Smucker Stock Performance

Shares of SJM stock opened at $117.79 on Monday. The stock has a market cap of $12.53 billion, a P/E ratio of 23.84, a P/E/G ratio of 3.29 and a beta of 0.25. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.58 and a quick ratio of 0.25. The company has a fifty day moving average price of $116.34 and a two-hundred day moving average price of $115.64. The J. M. Smucker Company has a one year low of $105.69 and a one year high of $134.62.

J. M. Smucker (NYSE:SJM) last issued its quarterly earnings data on Tuesday, November 26th. The company reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.27. The company had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.27 billion. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.35%. The company’s revenue was up 17.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.59 earnings per share. As a group, equities analysts predict that The J. M. Smucker Company will post 9.87 EPS for the current year.

J. M. Smucker Announces Dividend

The business 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. This represents a $4.32 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend is Friday, November 15th. J. M. Smucker’s payout ratio is presently 87.45%.

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.