Daymark Wealth Partners LLC Acquires 6,868 Shares of The J. M. Smucker Company (NYSE:SJM)

Daymark Wealth Partners LLC grew its holdings in The J. M. Smucker Company (NYSE:SJM) by 13.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 58,667 shares of the company’s stock after acquiring an additional 6,868 shares during the period. Daymark Wealth Partners LLC owned 0.06% of J. M. Smucker worth $7,105,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SJM. Boston Partners bought a new position in J. M. Smucker in the 1st quarter worth $364,990,000. Point72 Asset Management L.P. raised 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 during the period. Bank of Montreal Can lifted its position 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 valued at $90,195,000 after buying an additional 523,803 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of J. M. Smucker by 4.0% during the 4th quarter. Vanguard Group Inc. now owns 13,471,395 shares of the company’s stock valued at $1,702,515,000 after buying an additional 518,433 shares in the last quarter. Finally, Ariel Investments LLC grew its stake in shares of J. M. Smucker by 56.0% during the 2nd quarter. Ariel Investments LLC now owns 1,354,999 shares of the company’s stock valued at $147,749,000 after acquiring an additional 486,624 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SJM. 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. Citigroup reduced their price objective on J. M. Smucker from $138.00 to $136.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Barclays lowered their target price on 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. 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, BNP Paribas upgraded shares of J. M. Smucker to a “strong sell” rating in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $127.25.

J. M. Smucker Trading Up 0.3 %

NYSE:SJM traded up $0.31 during mid-day trading on Wednesday, hitting $117.09. 45,995 shares of the stock traded hands, compared to its average volume of 1,189,491. The J. M. Smucker Company has a 52 week low of $105.69 and a 52 week high of $134.62. The firm’s 50 day moving average is $119.13 and its two-hundred day moving average is $115.82. The stock has a market capitalization of $12.46 billion, a price-to-earnings ratio of 16.41, a PEG ratio of 3.11 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.

J. M. Smucker (NYSE:SJM) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.17 by $0.27. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. J. M. Smucker had a return on equity of 14.22% and a net margin of 8.77%. J. M. Smucker’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period last year, the company earned $2.21 EPS. On average, equities 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 business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 16th were paid a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend was Friday, August 16th. This is an increase from J. M. Smucker’s previous quarterly dividend of $1.06. J. M. Smucker’s dividend payout ratio (DPR) is currently 60.67%.

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.