TD Asset Management Inc reduced its stake in shares of The J. M. Smucker Company (NYSE:SJM – Free Report) by 0.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 391,657 shares of the company’s stock after selling 3,253 shares during the period. TD Asset Management Inc owned 0.38% of J. M. Smucker worth $57,836,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. New Mexico Educational Retirement Board lifted its holdings in shares of J. M. Smucker by 6.1% in the second quarter. New Mexico Educational Retirement Board now owns 5,222 shares of the company’s stock worth $771,000 after buying an additional 300 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new position in J. M. Smucker during the first quarter valued at $597,000. Impax Asset Management Group plc grew its stake in shares of J. M. Smucker by 92.0% in the 1st quarter. Impax Asset Management Group plc now owns 5,141 shares of the company’s stock worth $809,000 after buying an additional 2,463 shares in the last quarter. Toroso Investments LLC raised its position in shares of J. M. Smucker by 16.4% during the 1st quarter. Toroso Investments LLC now owns 18,492 shares of the company’s stock valued at $2,910,000 after buying an additional 2,606 shares in the last quarter. Finally, Cibc World Markets Corp lifted its holdings in shares of J. M. Smucker by 131.9% in the 2nd quarter. Cibc World Markets Corp now owns 12,505 shares of the company’s stock valued at $1,847,000 after acquiring an additional 7,112 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on SJM. JPMorgan Chase & Co. reduced their target price on shares of J. M. Smucker from $153.00 to $137.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 12th. Sanford C. Bernstein upgraded J. M. Smucker from an “underperform” rating to a “market perform” rating and reduced their price target for the stock from $123.00 to $119.00 in a report on Tuesday. StockNews.com started coverage on J. M. Smucker in a research note on Thursday, October 5th. They set a “hold” rating for the company. Stifel Nicolaus cut their price objective on J. M. Smucker from $160.00 to $150.00 and set a “hold” rating on the stock in a research report on Wednesday, August 30th. Finally, TD Cowen started coverage on J. M. Smucker in a research report on Wednesday, September 13th. They set an “outperform” rating and a $158.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, J. M. Smucker currently has a consensus rating of “Hold” and a consensus price target of $144.64.
J. M. Smucker Price Performance
SJM opened at $111.16 on Wednesday. The firm has a market capitalization of $11.35 billion, a PE ratio of -653.88, a price-to-earnings-growth ratio of 1.71 and a beta of 0.32. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.28 and a quick ratio of 0.72. The business’s 50-day moving average is $119.32 and its two-hundred day moving average is $138.76. The J. M. Smucker Company has a 1 year low of $107.33 and a 1 year high of $163.07.
J. M. Smucker (NYSE:SJM – Get Free Report) last posted its earnings results on Tuesday, August 29th. The company reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.19. J. M. Smucker had a negative net margin of 0.21% and a positive return on equity of 12.96%. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the prior year, the company posted $1.67 earnings per share. J. M. Smucker’s revenue for the quarter was down 3.6% compared to the same quarter last year. Research analysts anticipate that The J. M. Smucker Company will post 9.71 earnings per share for the current fiscal year.
J. M. Smucker Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be given a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a yield of 3.81%. The ex-dividend date is Thursday, November 16th. J. M. Smucker’s dividend payout ratio is presently -2,494.12%.
Insider Buying and Selling at J. M. Smucker
In related news, insider Amy C. Held sold 9,917 shares of the company’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $143.80, for a total value of $1,426,064.60. Following the transaction, the insider now directly owns 5,972 shares of the company’s stock, valued at approximately $858,773.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.50% of the stock is currently owned by company insiders.
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.
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