Davis R M Inc. Sells 376 Shares of The J. M. Smucker Company (NYSE:SJM)

Davis R M Inc. lowered its stake in The J. M. Smucker Company (NYSE:SJM) by 17.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,754 shares of the company’s stock after selling 376 shares during the quarter. Davis R M Inc.’s holdings in J. M. Smucker were worth $212,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in SJM. Studio Investment Management LLC bought a new stake in shares of J. M. Smucker in the second quarter worth $26,000. Venturi Wealth Management LLC boosted its position 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 worth $29,000 after purchasing an additional 226 shares during the last quarter. Quarry LP grew 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 purchasing an additional 219 shares during the period. Catalyst Capital Advisors LLC bought a new stake in shares of J. M. Smucker during the 3rd quarter valued at about $39,000. Finally, Eastern Bank purchased a new stake in shares of J. M. Smucker during the 3rd quarter valued at about $40,000. Institutional investors own 81.66% of the company’s stock.

J. M. Smucker Stock Up 0.3 %

Shares of SJM opened at $113.65 on Tuesday. The J. M. Smucker Company has a 12-month low of $105.69 and a 12-month high of $134.62. 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 company 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 200 day moving average is $115.55.

J. M. Smucker (NYSE:SJM) last released 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 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 company’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.21 earnings per share. Research analysts expect that The J. M. Smucker Company will post 9.79 earnings per share for the current fiscal year.

J. M. Smucker Dividend Announcement

The company 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 dividend of $1.08 per share. 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%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on SJM shares. Bank of America dropped their price objective on shares of J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Barclays cut their price objective on shares of J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating for the company in a research report on Friday, August 30th. DA Davidson reaffirmed a “neutral” rating and issued a $121.00 target price on shares of J. M. Smucker in a report on Thursday, August 29th. Wells Fargo & Company lowered their target price on J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, August 29th. Finally, TD Cowen reduced their price target on J. M. Smucker from $135.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. 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 stock. According to data from MarketBeat, J. M. Smucker presently has a consensus rating of “Hold” and an average price target of $127.09.

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.