Joseph Group Capital Management Makes New Investment in The J. M. Smucker Company (NYSE:SJM)

Joseph Group Capital Management purchased a new stake in shares of The J. M. Smucker Company (NYSE:SJM – Get Rating) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 153 shares of the company’s stock, valued at approximately $926,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SJM. Allspring Global Investments Holdings LLC bought a new stake in shares of J. M. Smucker during the 4th quarter worth about $81,056,000. Wedge Capital Management L L P NC grew its position in J. M. Smucker by 7,256.6% during the fourth quarter. Wedge Capital Management L L P NC now owns 254,096 shares of the company’s stock valued at $34,511,000 after purchasing an additional 250,642 shares in the last quarter. Moors & Cabot Inc. acquired a new stake in J. M. Smucker in the third quarter valued at approximately $226,000. Virginia Retirement Systems ET AL acquired a new stake in J. M. Smucker in the fourth quarter valued at approximately $14,940,000. Finally, Voloridge Investment Management LLC lifted its stake in J. M. Smucker by 512.9% in the third quarter. Voloridge Investment Management LLC now owns 127,501 shares of the company’s stock valued at $15,304,000 after acquiring an additional 106,699 shares during the last quarter. 83.02% of the stock is owned by institutional investors and hedge funds.

Shares of SJM traded down $0.48 during mid-day trading on Friday, reaching $144.23. The company had a trading volume of 1,014,366 shares, compared to its average volume of 717,461. The J. M. Smucker Company has a fifty-two week low of $118.55 and a fifty-two week high of $146.74. The company has a current ratio of 1.19, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The stock has a market cap of $15.64 billion, a price-to-earnings ratio of 27.16 and a beta of 0.27. The firm has a fifty day simple moving average of $136.56 and a 200-day simple moving average of $134.97.

J. M. Smucker (NYSE:SJM – Get Rating) last released its quarterly earnings results on Tuesday, March 1st. The company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.25. The business had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.04 billion. J. M. Smucker had a net margin of 7.31% and a return on equity of 11.30%. The firm’s revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.45 earnings per share. As a group, equities analysts predict that The J. M. Smucker Company will post 8.55 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 1st. Stockholders of record on Friday, May 13th will be given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend is Thursday, May 12th. J. M. Smucker’s dividend payout ratio is presently 74.58%.

A number of analysts have recently weighed in on the stock. William Blair restated a “market perform” rating on shares of J. M. Smucker in a research note on Tuesday, March 1st. Credit Suisse Group dropped their price objective on shares of J. M. Smucker from $140.00 to $130.00 and set a “neutral” rating for the company in a research note on Wednesday, March 2nd. UBS Group began coverage on shares of J. M. Smucker in a research report on Wednesday, March 30th. They set a “sell” rating and a $123.00 target price for the company. The Goldman Sachs Group raised their price objective on shares of J. M. Smucker from $107.00 to $111.00 in a research report on Thursday, February 17th. Finally, Citigroup lowered their price objective on shares of J. M. Smucker from $138.00 to $131.00 and set a “neutral” rating for the company in a research report on Wednesday, March 2nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $132.77.

About J. M. Smucker (Get Rating)

The J. M. Smucker Company manufactures and markets branded food and beverage products worldwide. It operates in four segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The company offers mainstream roast, ground, single serve, and premium coffee; peanut butter and specialty spreads; fruit spreads, shortening and oils, and frozen sandwiches; 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 ingredient.

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