Kendall Capital Management Takes Position in The J. M. Smucker Company $SJM

Kendall Capital Management purchased a new position in The J. M. Smucker Company (NYSE:SJM) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 4,950 shares of the company’s stock, valued at approximately $538,000.

A number of other hedge funds also recently bought and sold shares of SJM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in J. M. Smucker by 10.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,440 shares of the company’s stock worth $2,286,000 after buying an additional 1,763 shares during the last quarter. United Services Automobile Association purchased a new stake in shares of J. M. Smucker during the first quarter valued at approximately $253,000. Empowered Funds LLC increased its position in shares of J. M. Smucker by 28.6% during the first quarter. Empowered Funds LLC now owns 12,992 shares of the company’s stock valued at $1,538,000 after acquiring an additional 2,889 shares in the last quarter. Woodline Partners LP increased its position in shares of J. M. Smucker by 40.7% during the first quarter. Woodline Partners LP now owns 8,990 shares of the company’s stock valued at $1,065,000 after acquiring an additional 2,600 shares in the last quarter. Finally, Savant Capital LLC raised its holdings in J. M. Smucker by 142.4% in the 2nd quarter. Savant Capital LLC now owns 4,598 shares of the company’s stock worth $452,000 after acquiring an additional 2,701 shares during the last quarter. Institutional investors own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

SJM has been the topic of several recent analyst reports. Bank of America upgraded J. M. Smucker from a “neutral” rating to a “buy” rating and set a $130.00 target price on the stock in a research note on Monday, February 23rd. Barclays boosted their price target on J. M. Smucker from $105.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Monday, March 2nd. Canaccord Genuity Group raised J. M. Smucker to a “buy” rating in a report on Friday, January 16th. TD Cowen increased their price objective on J. M. Smucker from $105.00 to $112.00 and gave the company a “hold” rating in a research report on Friday, February 20th. Finally, Sanford C. Bernstein upgraded J. M. Smucker from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $121.00 to $145.00 in a report on Wednesday. Nine analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, J. M. Smucker has an average rating of “Hold” and an average target price of $121.14.

J. M. Smucker Stock Down 0.9%

J. M. Smucker stock opened at $107.51 on Thursday. The J. M. Smucker Company has a one year low of $93.30 and a one year high of $120.76. The stock has a fifty day moving average of $106.09 and a 200 day moving average of $105.33. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.35 and a current ratio of 0.84. The stock has a market cap of $11.47 billion, a PE ratio of -9.12, a price-to-earnings-growth ratio of 4.52 and a beta of 0.22.

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

J. M. Smucker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 13th were issued a $1.10 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 4.1%. J. M. Smucker’s dividend payout ratio (DPR) is presently -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.