Trustmark National Bank Trust Department Sells 859 Shares of The J. M. Smucker Company (NYSE:SJM)

Trustmark National Bank Trust Department reduced its stake in The J. M. Smucker Company (NYSE:SJM) by 29.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 2,057 shares of the company’s stock after selling 859 shares during the quarter. Trustmark National Bank Trust Department’s holdings in J. M. Smucker were worth $249,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Natixis boosted its position in shares of J. M. Smucker by 49.8% during the 1st quarter. Natixis now owns 11,278 shares of the company’s stock valued at $1,420,000 after acquiring an additional 3,748 shares during the last quarter. Axxcess Wealth Management LLC purchased a new position in shares of J. M. Smucker during the first quarter valued at approximately $428,000. Westwood Holdings Group Inc. increased its stake in shares of J. M. Smucker by 25.7% during the first quarter. Westwood Holdings Group Inc. now owns 56,816 shares of the company’s stock valued at $7,151,000 after buying an additional 11,622 shares during the period. Gabelli Funds LLC boosted its position in shares of J. M. Smucker by 1.0% during the first quarter. Gabelli Funds LLC now owns 139,050 shares of the company’s stock valued at $17,502,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in shares of J. M. Smucker during the first quarter valued at approximately $554,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

J. M. Smucker Price Performance

SJM opened at $113.63 on Friday. The company has a quick ratio of 0.25, a current ratio of 0.55 and a debt-to-equity ratio of 0.87. The business has a fifty day moving average of $116.72 and a 200 day moving average of $115.51. The stock has a market cap of $12.09 billion, a P/E ratio of 16.07, a PEG ratio of 3.21 and a beta of 0.25. The J. M. Smucker Company has a 52-week low of $105.69 and a 52-week high of $134.62.

J. M. Smucker (NYSE:SJM) last announced its earnings results on Wednesday, August 28th. The company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.27. The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. J. M. Smucker had a return on equity of 14.22% and a net margin of 8.77%. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.21 EPS. As a group, sell-side analysts anticipate that The J. M. Smucker Company will post 9.79 EPS for the current year.

J. M. Smucker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be paid a dividend of $1.08 per share. The ex-dividend date is Friday, November 15th. This represents a $4.32 annualized dividend and a yield of 3.80%. J. M. Smucker’s payout ratio is presently 61.10%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. BNP Paribas raised J. M. Smucker to a “strong sell” rating in a report on Thursday, August 29th. Stifel Nicolaus downgraded J. M. Smucker from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $135.00 to $125.00 in a research note on Friday, October 25th. TD Cowen decreased their target price on J. M. Smucker from $135.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Barclays decreased their target price on J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating on the stock in a research note on Friday, August 30th. Finally, DA Davidson restated a “neutral” rating and set a $121.00 price target on shares of J. M. Smucker in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $127.09.

J. M. Smucker 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.