The J. M. Smucker Company $SJM Stock Holdings Lowered by Te Ahumairangi Investment Management Ltd

Te Ahumairangi Investment Management Ltd cut its position in The J. M. Smucker Company (NYSE:SJM) by 20.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 30,720 shares of the company’s stock after selling 7,950 shares during the quarter. Te Ahumairangi Investment Management Ltd’s holdings in J. M. Smucker were worth $3,336,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wesbanco Bank Inc. increased its stake in shares of J. M. Smucker by 2.9% in the third quarter. Wesbanco Bank Inc. now owns 3,615 shares of the company’s stock valued at $393,000 after purchasing an additional 102 shares during the period. Wedbush Securities Inc. grew its holdings in J. M. Smucker by 1.2% in the 3rd quarter. Wedbush Securities Inc. now owns 8,861 shares of the company’s stock worth $962,000 after buying an additional 106 shares in the last quarter. Hantz Financial Services Inc. increased its position in J. M. Smucker by 5.1% in the 3rd quarter. Hantz Financial Services Inc. now owns 2,437 shares of the company’s stock valued at $265,000 after acquiring an additional 118 shares during the period. Smartleaf Asset Management LLC raised its stake in J. M. Smucker by 9.7% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,482 shares of the company’s stock valued at $159,000 after acquiring an additional 131 shares in the last quarter. Finally, Columbia Asset Management boosted its position in J. M. Smucker by 4.5% during the 3rd quarter. Columbia Asset Management now owns 3,130 shares of the company’s stock worth $340,000 after acquiring an additional 135 shares during the period. 81.66% of the stock is owned by institutional investors and hedge funds.

J. M. Smucker Price Performance

Shares of NYSE:SJM traded up $0.70 during trading hours on Friday, hitting $106.70. 210,258 shares of the company’s stock traded hands, compared to its average volume of 2,057,382. The company’s fifty day simple moving average is $106.25 and its two-hundred day simple moving average is $105.33. The company has a market cap of $11.38 billion, a price-to-earnings ratio of -9.04, a price-to-earnings-growth ratio of 4.48 and a beta of 0.22. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.35 and a current ratio of 0.84. The J. M. Smucker Company has a 52 week low of $93.30 and a 52 week high of $120.76.

J. M. Smucker (NYSE:SJM) last released its earnings results on Thursday, February 26th. The company reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.11. J. M. Smucker had a negative net margin of 14.07% and a positive return on equity of 15.94%. The business had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the previous year, the firm earned $2.61 EPS. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, equities analysts anticipate that The J. M. Smucker Company will post 9.88 EPS for the current fiscal year.

J. M. Smucker Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Friday, February 13th. J. M. Smucker’s dividend payout ratio is -37.32%.

Analyst Ratings Changes

Several research analysts have recently issued reports on SJM shares. JPMorgan Chase & Co. increased their price target on J. M. Smucker from $121.00 to $122.00 and gave the stock an “overweight” rating in a research note on Monday, February 23rd. Barclays upped their price objective on shares of J. M. Smucker from $105.00 to $125.00 and gave the stock an “equal weight” rating in a report on Monday, March 2nd. Sanford C. Bernstein upgraded shares of J. M. Smucker from a “market perform” rating to an “outperform” rating and increased their target price for the company from $121.00 to $145.00 in a research report on Wednesday. Morgan Stanley restated an “equal weight” rating and set a $105.00 price target (down from $115.00) on shares of J. M. Smucker in a research report on Friday, January 16th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of J. M. Smucker in a research note on Wednesday, January 21st. Nine analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, J. M. Smucker has an average rating of “Hold” and a consensus target price of $121.14.

J. M. Smucker Profile

The J. M. Smucker Company is a diversified food and beverage manufacturer and marketer known for a portfolio of well-established consumer brands. The company’s main business activities include the production and distribution of fruit spreads, peanut butter, coffee and coffee filters, as well as pet food and pet snacks. Smucker’s core product lines serve both retail and foodservice customers through grocery chains, mass merchandisers, club stores, convenience outlets and e-commerce channels.

Among its leading brands are Smucker’s® fruit spreads, Jif® peanut butter, Folgers® and Dunkin’® coffees, and Café Bustelo® coffee.