The J. M. Smucker Company $SJM Stock Position Decreased by Mcdonald Partners LLC

Mcdonald Partners LLC cut its stake in shares of The J. M. Smucker Company (NYSE:SJM) by 28.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,955 shares of the company’s stock after selling 10,757 shares during the period. Mcdonald Partners LLC’s holdings in J. M. Smucker were worth $2,927,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Arete Wealth Advisors LLC increased its stake in J. M. Smucker by 4.5% in the 3rd quarter. Arete Wealth Advisors LLC now owns 5,220 shares of the company’s stock worth $567,000 after purchasing an additional 227 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of J. M. Smucker in the third quarter worth about $385,000. Handelsbanken Fonder AB increased its position in shares of J. M. Smucker by 37.0% in the third quarter. Handelsbanken Fonder AB now owns 33,700 shares of the company’s stock worth $3,660,000 after acquiring an additional 9,100 shares in the last quarter. DNB Asset Management AS raised its holdings in shares of J. M. Smucker by 101.4% during the third quarter. DNB Asset Management AS now owns 54,661 shares of the company’s stock valued at $5,936,000 after acquiring an additional 27,522 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of J. M. Smucker by 5.9% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 259,084 shares of the company’s stock valued at $28,137,000 after acquiring an additional 14,335 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SJM shares. Morgan Stanley reiterated an “equal weight” rating and set a $105.00 price objective (down from $115.00) on shares of J. M. Smucker in a research report on Friday, January 16th. Wells Fargo & Company lifted their price target on J. M. Smucker from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, February 27th. Bank of America raised J. M. Smucker from a “neutral” rating to a “buy” rating and set a $130.00 price target on the stock in a research report on Monday, February 23rd. UBS Group decreased their price objective on J. M. Smucker from $120.00 to $117.00 and set a “buy” rating for the company in a research report on Wednesday, November 26th. Finally, Sanford C. Bernstein increased their price target on shares of J. M. Smucker from $113.00 to $121.00 and gave the stock a “market perform” rating in a research report on Friday, February 27th. Eight equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $119.43.

J. M. Smucker Stock Performance

Shares of SJM stock opened at $112.54 on Wednesday. The J. M. Smucker Company has a fifty-two week low of $93.30 and a fifty-two week high of $121.48. The stock’s 50-day moving average is $104.71 and its two-hundred day moving average is $105.37. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.84 and a quick ratio of 0.35. The firm has a market cap of $12.00 billion, a P/E ratio of -9.55, a PEG ratio of 4.78 and a beta of 0.22.

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

J. M. Smucker Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were paid a dividend of $1.10 per share. The ex-dividend date was Friday, February 13th. This represents a $4.40 annualized dividend and a dividend yield of 3.9%. J. M. Smucker’s dividend payout ratio is -37.32%.

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.