Prospera Financial Services Inc Lowers Position in The J. M. Smucker Company (NYSE:SJM)

Prospera Financial Services Inc cut its position in The J. M. Smucker Company (NYSE:SJM) by 2.3% in the third quarter, HoldingsChannel.com reports. The firm owned 4,527 shares of the company’s stock after selling 107 shares during the period. Prospera Financial Services Inc’s holdings in J. M. Smucker were worth $549,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in SJM. Axxcess Wealth Management LLC bought a new position in J. M. Smucker in the first quarter worth about $428,000. Quadrature Capital Ltd bought a new position in J. M. Smucker in the first quarter worth about $554,000. BOKF NA raised its holdings in J. M. Smucker by 20.7% in the first quarter. BOKF NA now owns 8,209 shares of the company’s stock worth $1,024,000 after purchasing an additional 1,408 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in J. M. Smucker by 0.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 145,306 shares of the company’s stock worth $18,291,000 after purchasing an additional 1,239 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC acquired a new position in shares of J. M. Smucker during the first quarter valued at about $397,000. 81.66% of the stock is currently owned by institutional investors.

J. M. Smucker Price Performance

Shares of NYSE:SJM opened at $113.30 on Friday. 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 company’s 50 day moving average is $116.57 and its 200 day moving average is $115.53. The company has a market cap of $12.06 billion, a PE ratio of 16.03, a price-to-earnings-growth ratio of 3.19 and a beta of 0.25.

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 business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the prior year, the firm posted $2.21 EPS. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. On average, sell-side analysts forecast that The J. M. Smucker Company will post 9.79 EPS for the current year.

J. M. Smucker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be given a $1.08 dividend. The ex-dividend date is Friday, November 15th. This represents a $4.32 annualized dividend and a yield of 3.81%. J. M. Smucker’s dividend payout ratio is presently 61.10%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SJM. Citigroup cut their price objective 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. StockNews.com upgraded shares of J. M. Smucker from a “sell” rating to a “hold” rating in a report on Monday, September 30th. Wells Fargo & Company cut their price objective on shares of J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, August 29th. Barclays cut 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 report on Friday, August 30th. Finally, TD Cowen cut their price objective on shares of J. M. Smucker from $135.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, J. M. Smucker currently has an average rating of “Hold” and a consensus target price 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.