Concurrent Investment Advisors LLC Boosts Stock Position in The J. M. Smucker Company (NYSE:SJM)

Concurrent Investment Advisors LLC grew its holdings in The J. M. Smucker Company (NYSE:SJM) by 18.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,490 shares of the company’s stock after purchasing an additional 2,103 shares during the period. Concurrent Investment Advisors LLC’s holdings in J. M. Smucker were worth $1,634,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in SJM. Studio Investment Management LLC purchased a new position in J. M. Smucker in the 2nd quarter worth about $26,000. Quarry LP grew its stake in J. M. Smucker by 212.6% in the 2nd quarter. Quarry LP now owns 322 shares of the company’s stock worth $35,000 after acquiring an additional 219 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of J. M. Smucker during the third quarter worth approximately $39,000. Eastern Bank bought a new stake in shares of J. M. Smucker during the third quarter valued at approximately $40,000. Finally, Rothschild Investment LLC purchased a new stake in shares of J. M. Smucker in the second quarter valued at approximately $42,000. 81.66% of the stock is currently owned by institutional investors.

J. M. Smucker Stock Down 0.3 %

Shares of SJM stock opened at $115.31 on Friday. The stock’s fifty day moving average price is $118.06 and its 200 day moving average price is $115.75. 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 market cap of $12.27 billion, a price-to-earnings ratio of 16.31, a price-to-earnings-growth ratio of 3.25 and a beta of 0.25. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.55 and a quick ratio of 0.25.

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

J. M. Smucker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend is Friday, November 15th. J. M. Smucker’s dividend payout ratio (DPR) is presently 61.10%.

Wall Street Analyst Weigh In

SJM has been the subject of several research reports. Bank of America lowered their target price on J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Wells Fargo & Company dropped their target price on shares of J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, August 29th. Stifel Nicolaus lowered shares of J. M. Smucker from a “buy” rating to a “hold” rating and reduced their price target for the company from $135.00 to $125.00 in a report on Friday, October 25th. Citigroup dropped their price objective on shares of J. M. Smucker from $138.00 to $136.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, Barclays reduced their price objective on shares of J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating for the company in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, J. M. Smucker has a consensus rating of “Hold” and a consensus price target of $126.42.

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.