Tobam Lowers Position in The J. M. Smucker Company (NYSE:SJM)

Tobam cut its stake in shares of The J. M. Smucker Company (NYSE:SJM) by 27.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 82,867 shares of the company’s stock after selling 31,377 shares during the period. J. M. Smucker comprises about 1.9% of Tobam’s investment portfolio, making the stock its 16th biggest position. Tobam owned approximately 0.08% of J. M. Smucker worth $10,035,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Studio Investment Management LLC bought a new stake in J. M. Smucker during the second quarter valued at about $26,000. Cooksen Wealth LLC bought a new stake in J. M. Smucker during the fourth quarter valued at about $33,000. Quarry LP raised its holdings 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 acquiring an additional 219 shares during the period. Trivant Custom Portfolio Group LLC bought a new stake in J. M. Smucker during the third quarter valued at about $42,000. Finally, Rothschild Investment LLC bought a new stake in J. M. Smucker during the second quarter valued at about $42,000. 81.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. TD Cowen decreased their price target on J. M. Smucker from $135.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Citigroup reduced their target price 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. Barclays reduced their target price on J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating on the stock in a report on Friday, August 30th. Wells Fargo & Company reduced their target price on J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, August 29th. Finally, Argus dropped their price target on J. M. Smucker from $150.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, June 13th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, J. M. Smucker currently has an average rating of “Hold” and an average price target of $127.25.

J. M. Smucker Trading Down 0.6 %

Shares of NYSE:SJM traded down $0.66 during trading hours on Thursday, hitting $116.55. 157,991 shares of the company’s stock traded hands, compared to its average volume of 1,186,056. The J. M. Smucker Company has a 1 year low of $105.69 and a 1 year high of $134.62. The business has a fifty day moving average price of $119.11 and a 200-day moving average price of $115.83. The firm has a market capitalization of $12.38 billion, a P/E ratio of 16.46, 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 current ratio of 0.55 and a quick ratio of 0.25.

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, beating 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.21 earnings per share. Equities 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 company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 16th were issued a $1.08 dividend. This is a positive change from J. M. Smucker’s previous quarterly dividend of $1.06. The ex-dividend date of this dividend was Friday, August 16th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.71%. J. M. Smucker’s payout ratio is presently 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.