Commonwealth Financial Services LLC Trims Stake in The J. M. Smucker Company (NYSE:SJM)

Commonwealth Financial Services LLC lowered its holdings in The J. M. Smucker Company (NYSE:SJM) by 8.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,030 shares of the company’s stock after selling 274 shares during the period. Commonwealth Financial Services LLC’s holdings in J. M. Smucker were worth $333,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in J. M. Smucker by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 13,471,395 shares of the company’s stock valued at $1,702,515,000 after purchasing an additional 518,433 shares in the last quarter. Boston Partners bought a new position in shares of J. M. Smucker in the 1st quarter worth $364,990,000. Dimensional Fund Advisors LP raised its position in shares of J. M. Smucker by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,783,183 shares of the company’s stock valued at $194,435,000 after buying an additional 135,158 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of J. M. Smucker by 14.4% during the 2nd quarter. ProShare Advisors LLC now owns 1,526,074 shares of the company’s stock worth $166,403,000 after acquiring an additional 192,075 shares during the last quarter. Finally, Champlain Investment Partners LLC grew its position in J. M. Smucker by 29.0% in the first quarter. Champlain Investment Partners LLC now owns 1,457,995 shares of the company’s stock worth $183,518,000 after acquiring an additional 327,680 shares in the last quarter. Institutional investors own 81.66% of the company’s stock.

J. M. Smucker Trading Down 0.5 %

NYSE:SJM opened at $118.74 on Monday. The firm has a market capitalization of $12.61 billion, a P/E ratio of 16.68, a P/E/G ratio of 3.20 and a beta of 0.24. 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 company has a fifty day moving average of $118.89 and a 200 day moving average of $116.13. The J. M. Smucker Company has a 52 week low of $105.69 and a 52 week high of $134.62.

J. M. Smucker (NYSE:SJM) last issued 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 firm had revenue of $2.13 billion during 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 quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.21 earnings per share. On average, research analysts predict that The J. M. Smucker Company will post 9.82 earnings per share for the current 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 $1.08 dividend. This is a positive change from J. M. Smucker’s previous quarterly dividend of $1.06. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date was Friday, August 16th. J. M. Smucker’s dividend payout ratio (DPR) is currently 60.67%.

Analyst Ratings Changes

SJM has been the topic of a number of research reports. Bank of America lowered their price target on J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. TD Cowen decreased their price objective on J. M. Smucker from $135.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. StockNews.com downgraded J. M. Smucker from a “hold” rating to a “sell” rating in a research report on Saturday, September 14th. Wells Fargo & Company reduced their price target on shares of J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, August 29th. Finally, DA Davidson restated a “neutral” rating and issued a $121.00 price objective on shares of J. M. Smucker 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 presently has an average rating of “Hold” and an average target price of $127.25.

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.