Swedbank AB Has $15.80 Million Stake in The J. M. Smucker Company (NYSE:SJM)

Swedbank AB boosted its stake in shares of The J. M. Smucker Company (NYSE:SJM) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,460 shares of the company’s stock after acquiring an additional 2,842 shares during the quarter. Swedbank AB’s holdings in J. M. Smucker were worth $15,799,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Studio Investment Management LLC bought a new stake in shares of J. M. Smucker in the 2nd quarter worth about $26,000. Venturi Wealth Management LLC boosted its position in J. M. Smucker by 1,329.4% in the third quarter. Venturi Wealth Management LLC now owns 243 shares of the company’s stock valued at $29,000 after buying an additional 226 shares in the last quarter. Quarry LP boosted its position in J. M. Smucker by 212.6% in the second quarter. Quarry LP now owns 322 shares of the company’s stock valued at $35,000 after buying an additional 219 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in J. M. Smucker during the third quarter worth about $39,000. Finally, Eastern Bank acquired a new stake in shares of J. M. Smucker during the third quarter worth approximately $40,000. 81.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SJM has been the topic of several recent analyst reports. Stifel Nicolaus downgraded J. M. Smucker from a “buy” rating to a “hold” rating and reduced their target price for the stock from $135.00 to $125.00 in a report on Friday, October 25th. StockNews.com upgraded J. M. Smucker from a “sell” rating to a “hold” rating in a report on Monday, September 30th. TD Cowen cut their price target on J. M. Smucker from $135.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Barclays reduced their price target 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, DA Davidson restated a “neutral” rating and issued a $121.00 price objective on shares of J. M. Smucker 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. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $127.09.

J. M. Smucker Trading Up 5.7 %

SJM opened at $120.15 on Wednesday. The firm has a 50 day simple moving average of $116.42 and a 200 day simple moving average 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. The company has a market cap of $12.79 billion, a price-to-earnings ratio of 16.99, a price-to-earnings-growth ratio of 3.18 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 earnings results on Tuesday, November 26th. The company reported $2.76 EPS for the quarter, beating the consensus estimate of $2.49 by $0.27. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. The company had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the previous year, the company posted $2.59 EPS. The business’s revenue for the quarter was up 17.2% compared to the same quarter last year. On average, sell-side analysts anticipate that The J. M. Smucker Company will post 9.79 earnings per share for the current year.

J. M. Smucker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders 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 yield of 3.60%. The ex-dividend date is Friday, November 15th. J. M. Smucker’s dividend payout ratio (DPR) is currently 61.10%.

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.