Goelzer Investment Management Inc. Cuts Stake in The J. M. Smucker Company (NYSE:SJM)

Goelzer Investment Management Inc. cut its holdings in The J. M. Smucker Company (NYSE:SJM) by 1.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 55,885 shares of the company’s stock after selling 871 shares during the quarter. Goelzer Investment Management Inc. owned approximately 0.05% of J. M. Smucker worth $6,768,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SJM. Studio Investment Management LLC purchased a new position in J. M. Smucker during the second quarter valued at approximately $26,000. Cooksen Wealth LLC purchased a new stake in shares of J. M. Smucker during the 4th quarter worth $33,000. Quarry LP boosted its position in J. M. Smucker by 212.6% during the second quarter. Quarry LP now owns 322 shares of the company’s stock valued at $35,000 after purchasing an additional 219 shares in the last quarter. Rothschild Investment LLC purchased a new position in J. M. Smucker in the second quarter valued at about $42,000. Finally, Central Valley Advisors LLC bought a new position in J. M. Smucker in the second quarter worth about $45,000. 81.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SJM shares. Argus lowered their price target on shares of J. M. Smucker from $150.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, June 13th. Wells Fargo & Company cut 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 report on Thursday, August 29th. Bank of America reduced 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. DA Davidson reissued a “neutral” rating and issued a $121.00 price target on shares of J. M. Smucker in a report on Thursday, August 29th. Finally, BNP Paribas raised shares of J. M. Smucker to a “strong sell” rating in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, J. M. Smucker currently has an average rating of “Hold” and an average price target of $127.25.

J. M. Smucker Stock Performance

SJM stock traded up $0.11 during midday trading on Friday, hitting $117.39. 733,326 shares of the stock traded hands, compared to its average volume of 1,199,820. The stock’s fifty day simple moving average is $119.21 and its 200-day simple moving average is $116.04. The firm has a market cap of $12.49 billion, a P/E ratio of 16.49, a PEG ratio of 3.16 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 company has a debt-to-equity ratio of 0.87, a current ratio of 0.55 and a quick ratio of 0.25.

J. M. Smucker (NYSE:SJM) last announced its earnings results on Wednesday, August 28th. The company reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.17 by $0.27. J. M. Smucker had a return on equity of 14.22% and a net margin of 8.77%. The firm had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the firm posted $2.21 EPS. The business’s revenue was up 17.7% on a year-over-year basis. On average, 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 announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th were given a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.68%. 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. J. M. Smucker’s dividend payout ratio is 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.