Seven Eight Capital LP Invests $276,000 in The J. M. Smucker Company (NYSE:SJM)

Seven Eight Capital LP acquired a new position in shares of The J. M. Smucker Company (NYSE:SJM) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,534 shares of the company’s stock, valued at approximately $276,000.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of 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 buying an additional 518,433 shares in the last quarter. Boston Partners purchased a new position in shares of J. M. Smucker in the 1st quarter valued at $364,990,000. Dimensional Fund Advisors LP raised its stake in 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 worth $194,435,000 after acquiring an additional 135,158 shares in the last quarter. Champlain Investment Partners LLC lifted its holdings in shares of J. M. Smucker by 29.0% in the 1st quarter. Champlain Investment Partners LLC now owns 1,457,995 shares of the company’s stock valued at $183,518,000 after purchasing an additional 327,680 shares during the last quarter. Finally, Ariel Investments LLC boosted its holdings in shares of J. M. Smucker by 58.7% in the first quarter. Ariel Investments LLC now owns 868,375 shares of the company’s stock valued at $109,302,000 after acquiring an additional 321,049 shares during the period. 81.66% of the stock is currently owned by institutional investors and hedge funds.

J. M. Smucker Stock Up 0.2 %

Shares of J. M. Smucker stock opened at $118.97 on Tuesday. 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 J. M. Smucker Company has a twelve month low of $105.69 and a twelve month high of $134.62. The stock has a market cap of $12.63 billion, a price-to-earnings ratio of 16.71, a price-to-earnings-growth ratio of 3.20 and a beta of 0.24. The company has a fifty day moving average price of $118.94 and a 200 day moving average price of $116.14.

J. M. Smucker (NYSE:SJM) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the prior year, the company posted $2.21 EPS. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. Equities 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 company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th were issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.63%. This is an increase from J. M. Smucker’s previous quarterly dividend of $1.06. The ex-dividend date of this dividend was Friday, August 16th. J. M. Smucker’s payout ratio is 60.67%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Citigroup lowered their price target on J. M. Smucker from $138.00 to $136.00 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 note on Saturday, September 14th. BNP Paribas raised J. M. Smucker to a “strong sell” rating in a report on Thursday, August 29th. Wells Fargo & Company reduced their target price on 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, 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 report on Thursday, August 29th. Two 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $127.25.

J. M. Smucker 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.