Hsbc Holdings PLC Sells 36,288 Shares of The J. M. Smucker Company (NYSE:SJM)

Hsbc Holdings PLC lowered its position in The J. M. Smucker Company (NYSE:SJM) by 16.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 179,762 shares of the company’s stock after selling 36,288 shares during the period. Hsbc Holdings PLC owned 0.17% of J. M. Smucker worth $19,588,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Securities Inc. acquired a new stake in J. M. Smucker in the 4th quarter valued at $43,000. Corient Private Wealth LLC grew its holdings in shares of J. M. Smucker by 4.7% during the fourth quarter. Corient Private Wealth LLC now owns 60,517 shares of the company’s stock valued at $7,648,000 after buying an additional 2,741 shares during the last quarter. SageView Advisory Group LLC bought a new stake in shares of J. M. Smucker during the fourth quarter worth about $279,000. Congress Wealth Management LLC DE raised its holdings in shares of J. M. Smucker by 6.9% in the 4th quarter. Congress Wealth Management LLC DE now owns 2,178 shares of the company’s stock worth $275,000 after acquiring an additional 141 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in J. M. Smucker by 23.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 275,168 shares of the company’s stock valued at $34,776,000 after acquiring an additional 52,067 shares in the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on SJM shares. Barclays decreased their price objective on J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating for the company in a report on Friday, August 30th. TD Cowen lowered their price target on J. M. Smucker from $135.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. DA Davidson reaffirmed a “neutral” rating and set a $121.00 price objective on shares of J. M. Smucker in a report on Thursday, August 29th. Wells Fargo & Company lowered 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 report on Thursday, August 29th. Finally, Citigroup cut their price target 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. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $127.25.

J. M. Smucker Stock Performance

Shares of SJM opened at $118.74 on Friday. 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 firm has a market cap of $12.61 billion, a PE ratio of 16.68, a PEG ratio of 3.20 and a beta of 0.24. The J. M. Smucker Company has a 1 year low of $105.69 and a 1 year high of $134.62. The stock’s fifty day moving average price is $118.89 and its two-hundred day moving average price is $116.15.

J. M. Smucker (NYSE:SJM) last released 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 net margin of 8.77% and a return on equity of 14.22%. The company’s revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.21 earnings per share. On average, equities research analysts forecast that The J. M. Smucker Company will post 9.82 EPS for the current year.

J. M. Smucker Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th were issued a dividend of $1.08 per share. This is a boost from J. M. Smucker’s previous quarterly dividend of $1.06. The ex-dividend date of this dividend was Friday, August 16th. This represents a $4.32 dividend on an annualized basis and a yield of 3.64%. J. M. Smucker’s payout ratio is presently 60.67%.

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.