The J. M. Smucker Company (NYSE:SJM) Stock Position Lifted by Edgestream Partners L.P.

Edgestream Partners L.P. lifted its position in The J. M. Smucker Company (NYSE:SJM) by 73.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,044 shares of the company’s stock after acquiring an additional 11,862 shares during the quarter. Edgestream Partners L.P.’s holdings in J. M. Smucker were worth $3,058,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SJM. Boston Partners acquired a new position in J. M. Smucker in the first quarter worth $364,990,000. Norges Bank acquired a new position in shares of J. M. Smucker in the 4th quarter valued at about $157,077,000. Point72 Asset Management L.P. boosted its holdings in shares of J. M. Smucker by 21,858.1% in the 4th quarter. Point72 Asset Management L.P. now owns 680,700 shares of the company’s stock valued at $86,027,000 after buying an additional 677,600 shares during the period. Vanguard Group Inc. raised its stake in J. M. Smucker by 4.0% during the fourth quarter. Vanguard Group Inc. now owns 13,471,395 shares of the company’s stock worth $1,702,515,000 after acquiring an additional 518,433 shares during the period. Finally, Ilex Capital Partners UK LLP bought a new position in J. M. Smucker in the first quarter worth about $48,207,000. 81.66% of the stock is currently owned by institutional investors.

J. M. Smucker Price Performance

Shares of NYSE:SJM opened at $120.48 on Thursday. The stock has a market cap of $12.79 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 3.20 and a beta of 0.24. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.55 and a quick ratio of 0.25. The J. M. Smucker Company has a 12 month low of $105.69 and a 12 month high of $134.62. The stock’s 50 day moving average price is $118.40 and its 200 day moving average price is $116.16.

J. M. Smucker (NYSE:SJM) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $2.44 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the business earned $2.21 EPS. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. Equities research analysts anticipate that The J. M. Smucker Company will post 9.82 earnings per share for the current fiscal year.

J. M. Smucker Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th were given a dividend of $1.08 per share. This is a positive change from J. M. Smucker’s previous quarterly dividend of $1.06. The ex-dividend date was Friday, August 16th. This represents a $4.32 annualized dividend and a dividend yield of 3.59%. J. M. Smucker’s dividend payout ratio (DPR) is 60.67%.

Insider Transactions at J. M. Smucker

In related news, CEO Mark T. Smucker sold 10,000 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $110.16, for a total transaction of $1,101,600.00. Following the completion of the sale, the chief executive officer now directly owns 78,757 shares of the company’s stock, valued at $8,675,871.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.40% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on SJM shares. Bank of America lowered their target price on J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating for the company in a report 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. TD Cowen reduced their price target on shares of J. M. Smucker from $135.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, August 29th. BNP Paribas raised shares of J. M. Smucker to a “strong sell” rating in a report on Thursday, August 29th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $127.25.

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.