The J. M. Smucker Company (NYSE:SJM) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems trimmed its holdings in shares of The J. M. Smucker Company (NYSE:SJM) by 7.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,415 shares of the company’s stock after selling 586 shares during the quarter. Kentucky Retirement Systems’ holdings in J. M. Smucker were worth $898,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in SJM. Studio Investment Management LLC acquired a new position in shares of J. M. Smucker during the 2nd quarter worth approximately $26,000. Venturi Wealth Management LLC raised its stake in shares of J. M. Smucker by 1,329.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 243 shares of the company’s stock worth $29,000 after buying an additional 226 shares during the period. Quarry LP raised its stake in shares of J. M. Smucker by 212.6% during the 2nd quarter. Quarry LP now owns 322 shares of the company’s stock worth $35,000 after buying an additional 219 shares during the period. Catalyst Capital Advisors LLC acquired a new position in shares of J. M. Smucker during the 3rd quarter worth approximately $39,000. Finally, Eastern Bank acquired a new position in shares of J. M. Smucker during the 3rd quarter worth approximately $40,000. 81.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on SJM shares. Stifel Nicolaus downgraded J. M. Smucker from a “buy” rating to a “hold” rating and reduced their price objective for the company from $135.00 to $125.00 in a research note on Friday, October 25th. Citigroup reduced their price objective on J. M. Smucker from $138.00 to $136.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Barclays reduced their price objective on 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. Wells Fargo & Company reduced their price objective on J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, August 29th. Finally, TD Cowen reduced their price objective on J. M. Smucker from $135.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, J. M. Smucker presently has a consensus rating of “Hold” and an average price target of $127.09.

J. M. Smucker Stock Performance

NYSE SJM opened at $111.91 on Wednesday. The stock has a market cap of $11.91 billion, a PE ratio of 15.83, a P/E/G ratio of 3.06 and a beta of 0.25. The company has a current ratio of 0.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.87. The J. M. Smucker Company has a twelve month low of $105.69 and a twelve month high of $134.62. The stock has a fifty day simple moving average of $116.91 and a 200-day simple moving average of $115.55.

J. M. Smucker (NYSE:SJM) last released 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 during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the business posted $2.21 EPS. Equities analysts anticipate that The J. M. Smucker Company will post 9.8 earnings per share for the current year.

J. M. Smucker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors 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 3.86%. The ex-dividend date is Friday, November 15th. J. M. Smucker’s dividend payout ratio (DPR) is 61.10%.

About J. M. Smucker

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.