Dimensional Fund Advisors LP Purchases 135,158 Shares of The J. M. Smucker Company (NYSE:SJM)

Dimensional Fund Advisors LP lifted its position in The J. M. Smucker Company (NYSE:SJM) by 8.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,783,183 shares of the company’s stock after buying an additional 135,158 shares during the period. Dimensional Fund Advisors LP owned about 1.68% of J. M. Smucker worth $194,435,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Studio Investment Management LLC bought a new stake in shares of J. M. Smucker in the second quarter worth about $26,000. Cooksen Wealth LLC acquired a new stake in J. M. Smucker during the 4th quarter worth approximately $33,000. Principal Securities Inc. bought a new position in J. M. Smucker in the fourth quarter valued at approximately $43,000. Rothschild Investment LLC acquired a new position in shares of J. M. Smucker in the second quarter valued at approximately $42,000. Finally, Central Valley Advisors LLC bought a new stake in shares of J. M. Smucker during the second quarter worth $45,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

J. M. Smucker Price Performance

Shares of SJM opened at $119.29 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 company’s fifty day simple moving average is $118.62 and its 200 day simple moving average is $116.19. The J. M. Smucker Company has a 1-year low of $105.69 and a 1-year high of $134.62. The company has a market cap of $12.67 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 3.20 and a beta of 0.24.

J. M. Smucker (NYSE:SJM) last released its quarterly earnings data on Wednesday, August 28th. The company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.17 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 $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the business earned $2.21 EPS. J. M. Smucker’s revenue for the quarter was up 17.7% compared to the same quarter last year. On average, research analysts forecast 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 announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th were paid a dividend of $1.08 per share. This is an increase from J. M. Smucker’s previous quarterly dividend of $1.06. This represents a $4.32 annualized dividend and a dividend yield of 3.62%. The ex-dividend date was Friday, August 16th. J. M. Smucker’s payout ratio is currently 60.67%.

Wall Street Analysts Forecast Growth

SJM has been the subject of a number of research analyst reports. Bank of America reduced their target price on shares of J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. BNP Paribas raised J. M. Smucker to a “strong sell” rating in a research report on Thursday, August 29th. DA Davidson reiterated a “neutral” rating and set a $121.00 price objective on shares of J. M. Smucker in a report on Thursday, August 29th. TD Cowen cut their target price 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. Finally, Wells Fargo & Company decreased their price target 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 issued a hold rating and five have given a buy rating to the company. According to MarketBeat, J. M. Smucker presently has an average rating of “Hold” and a consensus 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.