Concurrent Investment Advisors LLC Buys 2,103 Shares of The J. M. Smucker Company (NYSE:SJM)

Concurrent Investment Advisors LLC lifted its stake in The J. M. Smucker Company (NYSE:SJM) by 18.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,490 shares of the company’s stock after buying an additional 2,103 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in J. M. Smucker were worth $1,634,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in SJM. Studio Investment Management LLC purchased a new position in J. M. Smucker during the second quarter valued at approximately $26,000. Quarry LP lifted its stake 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 buying an additional 219 shares in the last quarter. Catalyst Capital Advisors LLC bought a new position in J. M. Smucker in the 3rd quarter worth $39,000. Eastern Bank bought a new position in J. M. Smucker in the 3rd quarter worth $40,000. Finally, Rothschild Investment LLC purchased a new stake in J. M. Smucker in the 2nd quarter worth $42,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SJM. BNP Paribas raised J. M. Smucker to a “strong sell” rating in a research note on Thursday, August 29th. Citigroup dropped their price target on 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. DA Davidson reiterated a “neutral” rating and set a $121.00 price objective on shares of J. M. Smucker in a research report 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. Finally, Stifel Nicolaus cut shares of J. M. Smucker from a “buy” rating to a “hold” rating and cut their target price for the company from $135.00 to $125.00 in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $126.42.

J. M. Smucker Stock Down 0.3 %

Shares of NYSE SJM opened at $115.31 on Friday. 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 J. M. Smucker Company has a 12-month low of $105.69 and a 12-month high of $134.62. The firm’s 50-day moving average price is $118.06 and its 200-day moving average price is $115.75. The stock has a market capitalization of $12.27 billion, a price-to-earnings ratio of 16.31, a P/E/G ratio of 3.25 and a beta of 0.25.

J. M. Smucker (NYSE:SJM) last posted its quarterly earnings data 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 business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. J. M. Smucker had a return on equity of 14.22% and a net margin of 8.77%. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period last year, the company earned $2.21 EPS. On average, equities research analysts anticipate that The J. M. Smucker Company will post 9.8 EPS for the current fiscal year.

J. M. Smucker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be paid a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend is Friday, November 15th. J. M. Smucker’s dividend payout ratio is currently 61.10%.

J. M. Smucker Company 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.