Davis R M Inc. Cuts Stock Position in The J. M. Smucker Company (NYSE:SJM)

Davis R M Inc. lessened its holdings in The J. M. Smucker Company (NYSE:SJM) by 17.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,754 shares of the company’s stock after selling 376 shares during the period. Davis R M Inc.’s holdings in J. M. Smucker were worth $212,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its position in shares of J. M. Smucker by 6,703.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 159,873 shares of the company’s stock valued at $17,433,000 after buying an additional 157,523 shares in the last quarter. Cetera Investment Advisers raised its position in J. M. Smucker by 62.0% during the first quarter. Cetera Investment Advisers now owns 24,174 shares of the company’s stock valued at $3,043,000 after purchasing an additional 9,250 shares during the period. Swedbank AB lifted its stake in shares of J. M. Smucker by 14.1% in the 2nd quarter. Swedbank AB now owns 127,618 shares of the company’s stock valued at $13,915,000 after purchasing an additional 15,792 shares during the last quarter. Westwood Holdings Group Inc. boosted its holdings in shares of J. M. Smucker by 25.7% in the 1st quarter. Westwood Holdings Group Inc. now owns 56,816 shares of the company’s stock worth $7,151,000 after purchasing an additional 11,622 shares during the period. Finally, Quadrature Capital Ltd bought a new position in shares of J. M. Smucker during the 1st quarter valued at approximately $554,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

J. M. Smucker Stock Performance

J. M. Smucker stock opened at $113.65 on Tuesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.25 and a current ratio of 0.55. The company has a market capitalization of $12.09 billion, a PE ratio of 16.07, a P/E/G ratio of 3.18 and a beta of 0.25. The company has a 50 day moving average price of $116.42 and a 200-day moving average price of $115.55. The J. M. Smucker Company has a fifty-two week low of $105.69 and a fifty-two week high of $134.62.

J. M. Smucker (NYSE:SJM) last released its quarterly earnings data on Wednesday, August 28th. The company reported $2.44 EPS for the quarter, topping the consensus estimate 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 company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period last year, the business posted $2.21 EPS. J. M. Smucker’s quarterly revenue was up 17.7% on a year-over-year basis. As a group, equities analysts forecast that The J. M. Smucker Company will post 9.79 earnings per share for the current year.

J. M. Smucker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend is Friday, November 15th. J. M. Smucker’s dividend payout ratio (DPR) is presently 61.10%.

Analyst Ratings Changes

Several analysts recently weighed in on SJM shares. BNP Paribas upgraded J. M. Smucker to a “strong sell” rating in a research report on Thursday, August 29th. TD Cowen lowered their target price on shares of J. M. Smucker from $135.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, August 29th. StockNews.com raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Monday, September 30th. Barclays reduced their price objective on shares of J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating on the stock in a research report on Friday, August 30th. Finally, Citigroup dropped their target price on 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 assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $127.09.

J. M. Smucker Company 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.