The J. M. Smucker Company $SJM Holdings Lowered by Te Ahumairangi Investment Management Ltd

Te Ahumairangi Investment Management Ltd lowered its stake in The J. M. Smucker Company (NYSE:SJM) by 20.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,720 shares of the company’s stock after selling 7,950 shares during the quarter. Te Ahumairangi Investment Management Ltd’s holdings in J. M. Smucker were worth $3,336,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Wesbanco Bank Inc. boosted its holdings in shares of J. M. Smucker by 2.9% in the third quarter. Wesbanco Bank Inc. now owns 3,615 shares of the company’s stock worth $393,000 after buying an additional 102 shares during the period. Wedbush Securities Inc. raised its holdings in shares of J. M. Smucker by 1.2% during the third quarter. Wedbush Securities Inc. now owns 8,861 shares of the company’s stock valued at $962,000 after acquiring an additional 106 shares during the period. Hantz Financial Services Inc. lifted its position in shares of J. M. Smucker by 5.1% in the 3rd quarter. Hantz Financial Services Inc. now owns 2,437 shares of the company’s stock valued at $265,000 after acquiring an additional 118 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of J. M. Smucker by 9.7% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,482 shares of the company’s stock valued at $159,000 after acquiring an additional 131 shares in the last quarter. Finally, Columbia Asset Management grew its position in J. M. Smucker by 4.5% during the 3rd quarter. Columbia Asset Management now owns 3,130 shares of the company’s stock worth $340,000 after purchasing an additional 135 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SJM has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their target price on J. M. Smucker from $121.00 to $122.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Canaccord Genuity Group raised J. M. Smucker to a “buy” rating in a research report on Friday, January 16th. Morgan Stanley restated 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. Wall Street Zen downgraded J. M. Smucker from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of J. M. Smucker in a research report on Wednesday, January 21st. Nine research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, J. M. Smucker presently has an average rating of “Hold” and an average price target of $121.14.

J. M. Smucker Stock Up 0.7%

SJM stock traded up $0.70 during mid-day trading on Friday, hitting $106.70. The stock had a trading volume of 210,258 shares, compared to its average volume of 2,057,382. The J. M. Smucker Company has a 1-year low of $93.30 and a 1-year high of $120.76. The company has a fifty day moving average of $106.25 and a 200 day moving average of $105.33. The company has a current ratio of 0.84, a quick ratio of 0.35 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $11.38 billion, a price-to-earnings ratio of -9.04, a PEG ratio of 4.48 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 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 analysts’ expectations of $2.32 billion. During the same quarter in the previous year, the business posted $2.61 EPS. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, equities analysts expect that The J. M. Smucker Company will post 9.88 EPS for the current fiscal year.

J. M. Smucker Announces Dividend

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 4.1%. J. M. Smucker’s dividend payout ratio is -37.32%.

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.