AXQ Capital LP Invests $1.09 Million in The J. M. Smucker Company (NYSE:SJM)

AXQ Capital LP bought a new position in shares of The J. M. Smucker Company (NYSE:SJM) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 9,884 shares of the company’s stock, valued at approximately $1,088,000.

Other hedge funds also recently modified their holdings of the company. Capital Advisors Ltd. LLC lifted its stake in shares of J. M. Smucker by 188.8% during the 4th quarter. Capital Advisors Ltd. LLC now owns 231 shares of the company’s stock worth $25,000 after buying an additional 151 shares during the last quarter. Kentucky Trust Co acquired a new stake in shares of J. M. Smucker during the 4th quarter worth about $28,000. Kieckhefer Group LLC acquired a new stake in shares of J. M. Smucker during the 4th quarter worth about $33,000. Hantz Financial Services Inc. acquired a new stake in shares of J. M. Smucker during the 4th quarter worth about $39,000. Finally, Sandy Spring Bank lifted its stake in shares of J. M. Smucker by 1,365.5% during the 4th quarter. Sandy Spring Bank now owns 425 shares of the company’s stock worth $47,000 after buying an additional 396 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

J. M. Smucker Trading Up 0.4 %

Shares of J. M. Smucker stock opened at $109.78 on Friday. The firm has a market capitalization of $11.68 billion, a PE ratio of 22.22, a price-to-earnings-growth ratio of 3.91 and a beta of 0.28. The company has a current ratio of 0.58, a quick ratio of 0.27 and a debt-to-equity ratio of 0.89. The firm’s 50 day moving average is $107.00 and its 200 day moving average is $112.46. The J. M. Smucker Company has a 1 year low of $98.77 and a 1 year high of $127.15.

J. M. Smucker (NYSE:SJM) last announced its quarterly earnings results on Thursday, February 27th. The company reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.24. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.35%. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.23 billion. Equities research analysts forecast that The J. M. Smucker Company will post 9.88 earnings per share for the current fiscal year.

J. M. Smucker Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date of this dividend was Friday, February 14th. J. M. Smucker’s payout ratio is -179.25%.

Insiders Place Their Bets

In other J. M. Smucker news, CFO Tucker H. Marshall sold 5,028 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $113.36, for a total transaction of $569,974.08. Following the sale, the chief financial officer now directly owns 13,263 shares of the company’s stock, valued at $1,503,493.68. The trade was a 27.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.40% of the company’s stock.

Wall Street Analysts Forecast Growth

SJM has been the subject of several analyst reports. DA Davidson dropped their price objective on shares of J. M. Smucker from $122.00 to $120.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. TD Cowen cut shares of J. M. Smucker from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $130.00 to $121.00 in a research note on Wednesday, January 8th. Stifel Nicolaus dropped their price objective on shares of J. M. Smucker from $125.00 to $120.00 and set a “hold” rating for the company in a research note on Friday, January 24th. StockNews.com cut shares of J. M. Smucker from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Barclays dropped their target price on shares of J. M. Smucker from $123.00 to $119.00 and set an “equal weight” rating for the company in a research report on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, J. M. Smucker presently has a consensus rating of “Hold” and an average price target of $126.00.

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.