Swiss Life Asset Management Ltd Acquires 6,416 Shares of The J. M. Smucker Company $SJM

Swiss Life Asset Management Ltd raised its holdings in The J. M. Smucker Company (NYSE:SJM) by 37.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 23,664 shares of the company’s stock after purchasing an additional 6,416 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in J. M. Smucker were worth $2,570,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Investment Research Partners LLC acquired a new position in J. M. Smucker in the third quarter worth $442,000. JPMorgan Chase & Co. increased its stake in shares of J. M. Smucker by 14.1% in the third quarter. JPMorgan Chase & Co. now owns 865,132 shares of the company’s stock valued at $93,958,000 after buying an additional 106,677 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of J. M. Smucker by 10.2% in the third quarter. CIBC Private Wealth Group LLC now owns 5,014 shares of the company’s stock valued at $545,000 after buying an additional 465 shares during the last quarter. CIBC Bancorp USA Inc. bought a new position in shares of J. M. Smucker in the third quarter valued at about $4,280,000. Finally, Achmea Investment Management B.V. lifted its position in J. M. Smucker by 1.7% during the 3rd quarter. Achmea Investment Management B.V. now owns 10,786 shares of the company’s stock worth $1,171,000 after buying an additional 177 shares in the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

J. M. Smucker Price Performance

Shares of SJM stock opened at $98.31 on Tuesday. The firm has a market cap of $10.48 billion, a price-to-earnings ratio of -8.34, a PEG ratio of 4.14 and a beta of 0.22. The J. M. Smucker Company has a 12 month low of $93.30 and a 12 month high of $120.76. The company has a quick ratio of 0.35, a current ratio of 0.84 and a debt-to-equity ratio of 1.31. The stock has a 50-day moving average price of $106.90 and a 200 day moving average price of $104.87.

J. M. Smucker (NYSE:SJM) last released its earnings results on Thursday, February 26th. The company reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.11. The company had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.32 billion. J. M. Smucker had a negative net margin of 14.07% and a positive return on equity of 15.94%. The company’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.61 EPS. Research analysts expect that The J. M. Smucker Company will post 9.88 EPS for the current year.

J. M. Smucker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 13th were issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 4.5%. The ex-dividend date was Friday, February 13th. J. M. Smucker’s dividend payout ratio is currently -37.32%.

Analyst Ratings Changes

A number of equities research analysts have commented on SJM shares. TD Cowen decreased their price objective on shares of J. M. Smucker from $124.00 to $113.00 and set a “hold” rating on the stock in a report on Thursday, March 19th. Barclays upped their target price on shares of J. M. Smucker from $105.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Monday, March 2nd. Citigroup reissued a “hold” rating on shares of J. M. Smucker in a research note on Wednesday, November 26th. Sanford C. Bernstein raised shares of J. M. Smucker from a “market perform” rating to an “outperform” rating and raised their price target for the company from $121.00 to $145.00 in a report on Wednesday, March 11th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of J. M. Smucker in a research report on Wednesday, January 21st. Nine analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, J. M. Smucker currently has a consensus rating of “Hold” and an average price target of $121.21.

J. M. Smucker Company 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.