The J. M. Smucker Company (NYSE:SJM) Stock Holdings Lowered by Pitcairn Co.

Pitcairn Co. trimmed its holdings in shares of The J. M. Smucker Company (NYSE:SJM) by 13.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,791 shares of the company’s stock after selling 417 shares during the period. Pitcairn Co.’s holdings in J. M. Smucker were worth $338,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Raymond James Trust N.A. boosted its stake in shares of J. M. Smucker by 6.8% during the 3rd quarter. Raymond James Trust N.A. now owns 4,846 shares of the company’s stock worth $587,000 after acquiring an additional 310 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in J. M. Smucker by 6,703.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 159,873 shares of the company’s stock worth $17,433,000 after purchasing an additional 157,523 shares in the last quarter. Cetera Investment Advisers raised its holdings in J. M. Smucker by 62.0% during the 1st quarter. Cetera Investment Advisers now owns 24,174 shares of the company’s stock worth $3,043,000 after buying an additional 9,250 shares during the period. Swedbank AB raised its holdings in J. M. Smucker by 14.1% during the 2nd quarter. Swedbank AB now owns 127,618 shares of the company’s stock worth $13,915,000 after buying an additional 15,792 shares during the period. Finally, Westwood Holdings Group Inc. lifted its stake in J. M. Smucker by 25.7% during the first quarter. Westwood Holdings Group Inc. now owns 56,816 shares of the company’s stock valued at $7,151,000 after buying an additional 11,622 shares in the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

J. M. Smucker Price Performance

J. M. Smucker stock opened at $120.15 on Wednesday. The company has a quick ratio of 0.25, a current ratio of 0.55 and a debt-to-equity ratio of 0.87. The J. M. Smucker Company has a 12-month low of $105.69 and a 12-month high of $134.62. The stock has a market cap of $12.79 billion, a price-to-earnings ratio of 16.99, a P/E/G ratio of 3.18 and a beta of 0.25. The business’s 50-day simple moving average is $116.42 and its 200 day simple moving average is $115.55.

J. M. Smucker (NYSE:SJM) last announced its quarterly earnings results on Tuesday, November 26th. The company reported $2.76 earnings per share (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 analyst estimates of $2.27 billion. During the same quarter in the previous year, the business earned $2.59 EPS. The firm’s revenue was up 17.2% on a year-over-year basis. As a group, research 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 company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be given 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 of this dividend is Friday, November 15th. J. M. Smucker’s dividend payout ratio (DPR) is currently 61.10%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SJM shares. Citigroup cut their price target on shares of J. M. Smucker from $138.00 to $136.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Bank of America dropped their price objective on shares of J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Wells Fargo & Company reduced their target price on shares of 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. Stifel Nicolaus lowered J. M. Smucker from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $135.00 to $125.00 in a report on Friday, October 25th. Finally, BNP Paribas raised shares of J. M. Smucker to a “strong sell” rating in a 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 issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $127.09.

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.