MBB Public Markets I LLC Invests $813,000 in The J. M. Smucker Company (NYSE:SJM)

MBB Public Markets I LLC purchased 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 Securities and Exchange Commission. The firm purchased 7,460 shares of the company’s stock, valued at approximately $813,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Boston Partners purchased a new stake in shares of J. M. Smucker in the first quarter worth about $364,990,000. Point72 Asset Management L.P. lifted its stake in shares of J. M. Smucker by 21,858.1% in the fourth quarter. Point72 Asset Management L.P. now owns 680,700 shares of the company’s stock worth $86,027,000 after buying an additional 677,600 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of J. M. Smucker by 186.3% during the 2nd quarter. Bank of Montreal Can now owns 805,029 shares of the company’s stock worth $90,195,000 after purchasing an additional 523,803 shares during the last quarter. Vanguard Group Inc. boosted its stake in 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 during the last quarter. Finally, Ariel Investments LLC raised its stake in 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 purchasing an additional 486,624 shares during the period. 81.66% of the stock is currently owned by institutional investors and hedge funds.

J. M. Smucker Trading Up 0.1 %

J. M. Smucker stock opened at $121.21 on Wednesday. The J. M. Smucker Company has a 52-week low of $105.69 and a 52-week high of $134.62. 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 firm has a market capitalization of $12.90 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 3.21 and a beta of 0.24. The firm has a 50-day moving average price of $119.15 and a two-hundred day moving average price of $116.05.

J. M. Smucker (NYSE:SJM) last released its earnings results on Wednesday, August 28th. The company reported $2.44 EPS for the quarter, beating 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 firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter last year, the company earned $2.21 EPS. J. M. Smucker’s quarterly revenue was up 17.7% on a year-over-year basis. Sell-side analysts expect 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 declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders 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 3.56%. This is an increase from J. M. Smucker’s previous quarterly dividend of $1.06. The ex-dividend date was Friday, August 16th. J. M. Smucker’s dividend payout ratio is presently 60.67%.

Analyst Ratings Changes

SJM has been the subject of several recent research reports. Argus lowered their price objective on shares of 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. DA Davidson restated a “neutral” rating and set a $121.00 target price on shares of J. M. Smucker in a research note on Thursday, August 29th. BNP Paribas upgraded shares of J. M. Smucker to a “strong sell” rating in a research note on Thursday, August 29th. Bank of America lowered their price objective on shares of 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. Finally, StockNews.com raised J. M. Smucker from a “sell” rating to a “hold” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, J. M. Smucker presently has an average 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.