Victory Capital Management Inc. Buys 112,195 Shares of The J. M. Smucker Company (NYSE:SJM)

Victory Capital Management Inc. grew its holdings in The J. M. Smucker Company (NYSE:SJM) by 281.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 152,112 shares of the company’s stock after purchasing an additional 112,195 shares during the quarter. Victory Capital Management Inc. owned about 0.14% of J. M. Smucker worth $18,421,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of SJM. Probity Advisors Inc. lifted its stake in shares of J. M. Smucker by 1.1% during the third quarter. Probity Advisors Inc. now owns 8,791 shares of the company’s stock valued at $1,065,000 after acquiring an additional 96 shares during the period. Anchor Investment Management LLC grew its holdings in shares of J. M. Smucker by 0.5% during the second quarter. Anchor Investment Management LLC now owns 19,791 shares of the company’s stock worth $2,158,000 after buying an additional 99 shares in the last quarter. State of Michigan Retirement System grew its holdings in shares of J. M. Smucker by 0.3% during the second quarter. State of Michigan Retirement System now owns 33,561 shares of the company’s stock worth $3,659,000 after buying an additional 100 shares in the last quarter. Romano Brothers AND Company boosted its position in J. M. Smucker by 3.5% during the third quarter. Romano Brothers AND Company now owns 2,987 shares of the company’s stock valued at $362,000 after purchasing an additional 100 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in J. M. Smucker by 11.0% during the third quarter. Blue Trust Inc. now owns 1,032 shares of the company’s stock valued at $125,000 after purchasing an additional 102 shares during the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Analyst Upgrades and Downgrades

SJM has been the subject of several research reports. BNP Paribas raised J. M. Smucker to a “strong sell” rating in a report on Thursday, August 29th. Wells Fargo & Company cut their target price on J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, August 29th. TD Cowen dropped their price objective on J. M. Smucker from $135.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. DA Davidson reaffirmed a “neutral” rating and issued a $121.00 target price on shares of J. M. Smucker in a research report on Thursday, August 29th. Finally, Citigroup decreased their target price on J. M. Smucker from $138.00 to $136.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $127.09.

J. M. Smucker Stock Performance

SJM stock opened at $110.47 on Tuesday. The J. M. Smucker Company has a 12-month low of $105.69 and a 12-month high of $134.62. 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 business has a 50 day moving average of $117.05 and a 200-day moving average of $115.56. The firm has a market cap of $11.75 billion, a PE ratio of 15.63, a P/E/G ratio of 3.06 and a beta of 0.25.

J. M. Smucker (NYSE:SJM) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $2.44 EPS for the quarter, beating the consensus estimate of $2.17 by $0.27. The business had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. J. M. Smucker had a return on equity of 14.22% and a net margin of 8.77%. J. M. Smucker’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.21 earnings per share. As a group, sell-side analysts expect that The J. M. Smucker Company will post 9.8 earnings per share for the current year.

J. M. Smucker Announces Dividend

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 given a dividend of $1.08 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.32 annualized dividend and a dividend yield of 3.91%. J. M. Smucker’s dividend payout ratio is currently 61.10%.

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.