The J. M. Smucker Company (NYSE:SJM) Stake Boosted by Joseph Group Capital Management

Joseph Group Capital Management increased its stake in The J. M. Smucker Company (NYSE:SJM) by 21.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,766 shares of the company’s stock after purchasing an additional 3,622 shares during the period. Joseph Group Capital Management’s holdings in J. M. Smucker were worth $2,515,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quest Partners LLC boosted its holdings in shares of J. M. Smucker by 1,868.3% during the third quarter. Quest Partners LLC now owns 8,188 shares of the company’s stock valued at $992,000 after acquiring an additional 7,772 shares during the period. MAI Capital Management boosted its stake in J. M. Smucker by 14.8% during the 3rd quarter. MAI Capital Management now owns 15,827 shares of the company’s stock valued at $1,917,000 after purchasing an additional 2,046 shares during the period. Swiss National Bank grew its position in J. M. Smucker by 0.5% in the 3rd quarter. Swiss National Bank now owns 315,865 shares of the company’s stock worth $38,251,000 after purchasing an additional 1,500 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of J. M. Smucker by 891.3% in the third quarter. Thrivent Financial for Lutherans now owns 579,903 shares of the company’s stock valued at $70,226,000 after purchasing an additional 521,404 shares during the period. Finally, Natixis Advisors LLC increased its stake in shares of J. M. Smucker by 12.5% in the third quarter. Natixis Advisors LLC now owns 15,520 shares of the company’s stock valued at $1,879,000 after purchasing an additional 1,724 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SJM shares. BNP Paribas raised J. M. Smucker to a “strong sell” rating in a report on Thursday, August 29th. StockNews.com upgraded J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Monday, September 30th. Stifel Nicolaus lowered J. M. Smucker from a “buy” rating to a “hold” rating and lowered their price target for the company from $135.00 to $125.00 in a report on Friday, October 25th. DA Davidson reaffirmed a “neutral” rating and issued a $121.00 price objective on shares of J. M. Smucker in a report on Thursday, August 29th. Finally, Citigroup decreased their target price on shares of J. M. Smucker from $138.00 to $136.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $127.09.

J. M. Smucker Trading Up 3.3 %

Shares of NYSE:SJM opened at $110.47 on Tuesday. The stock has a market capitalization of $11.76 billion, a price-to-earnings ratio of 15.63, a PEG ratio of 3.06 and a beta of 0.25. The J. M. Smucker Company has a 1-year low of $105.69 and a 1-year high of $134.62. The company has a 50 day moving average price of $117.05 and a 200 day moving average price of $115.56. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.25 and a current ratio of 0.55.

J. M. Smucker (NYSE:SJM) last issued its earnings results on Wednesday, August 28th. The company reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.17 by $0.27. J. M. Smucker had a return on equity of 14.22% and a net margin of 8.77%. The business had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the previous year, the firm posted $2.21 EPS. The company’s quarterly revenue was up 17.7% on a year-over-year basis. On average, research analysts anticipate that The J. M. Smucker Company will post 9.8 EPS for the current fiscal year.

J. M. Smucker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be issued a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 3.91%. The ex-dividend date of this dividend is Friday, November 15th. J. M. Smucker’s payout ratio is 61.10%.

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.