DoubleLine ETF Adviser LP Sells 323 Shares of The J. M. Smucker Company (NYSE:SJM)

DoubleLine ETF Adviser LP lessened its position in shares of The J. M. Smucker Company (NYSE:SJM) by 6.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,476 shares of the company’s stock after selling 323 shares during the period. DoubleLine ETF Adviser LP’s holdings in J. M. Smucker were worth $488,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Ariel Investments LLC boosted its holdings in shares of J. M. Smucker by 56.0% during the second quarter. Ariel Investments LLC now owns 1,354,999 shares of the company’s stock worth $147,749,000 after acquiring an additional 486,624 shares during the period. Armistice Capital LLC bought a new stake in shares of J. M. Smucker in the second quarter valued at approximately $368,000. AXA S.A. boosted its stake in shares of J. M. Smucker by 24.3% in the second quarter. AXA S.A. now owns 82,596 shares of the company’s stock valued at $9,006,000 after buying an additional 16,171 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of J. M. Smucker by 1,681.1% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 5,753 shares of the company’s stock valued at $627,000 after buying an additional 5,430 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of J. M. Smucker by 60.5% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 20,334 shares of the company’s stock valued at $2,217,000 after buying an additional 7,662 shares during the period. Institutional investors own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SJM. Argus cut their price target on J. M. Smucker from $150.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, June 13th. BNP Paribas upgraded J. M. Smucker to a “strong sell” rating in a research note on Thursday, August 29th. Citigroup cut their price target on J. M. Smucker from $138.00 to $136.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Barclays lowered their price objective on shares of J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating for the company in a research report on Friday, August 30th. Finally, DA Davidson restated a “neutral” rating and set a $121.00 price objective on shares of J. M. Smucker in a research 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 given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $127.25.

J. M. Smucker Stock Up 1.4 %

Shares of NYSE:SJM opened at $119.87 on Friday. The company has a fifty day moving average of $118.87 and a 200-day moving average of $116.16. The company has a market capitalization of $12.76 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 3.11 and a beta of 0.24. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.25 and a current ratio of 0.55. 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 announced its quarterly earnings results on Wednesday, August 28th. The company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.27. The company 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 revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.21 earnings per share. On average, equities analysts predict that The J. M. Smucker Company will post 9.82 EPS for the current fiscal year.

J. M. Smucker Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 16th were issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 3.60%. 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 dividend payout ratio is presently 60.67%.

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.