Weaver C. Barksdale & Associates Inc. Has $1.16 Million Holdings in The J. M. Smucker Company (NYSE:SJM)

Weaver C. Barksdale & Associates Inc. decreased its stake in The J. M. Smucker Company (NYSE:SJM) by 1.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,602 shares of the company’s stock after selling 210 shares during the quarter. Weaver C. Barksdale & Associates Inc.’s holdings in J. M. Smucker were worth $1,156,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board boosted its stake in J. M. Smucker by 8.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 13,900 shares of the company’s stock worth $1,516,000 after acquiring an additional 1,100 shares during the last quarter. Joseph Group Capital Management increased its position in shares of J. M. Smucker by 12.7% in the 2nd quarter. Joseph Group Capital Management now owns 17,144 shares of the company’s stock valued at $1,869,000 after buying an additional 1,928 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of J. M. Smucker by 1.5% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 22,196 shares of the company’s stock worth $2,420,000 after acquiring an additional 329 shares in the last quarter. Intech Investment Management LLC raised its holdings in shares of J. M. Smucker by 14.9% during the second quarter. Intech Investment Management LLC now owns 35,002 shares of the company’s stock worth $3,817,000 after acquiring an additional 4,539 shares during the period. Finally, Seven Eight Capital LP bought a new stake in J. M. Smucker in the 2nd quarter valued at $276,000. Institutional investors own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SJM. Citigroup lowered their target price on J. M. Smucker from $138.00 to $136.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Bank of America lowered their target price on shares of J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating on the stock in a report 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. Wells Fargo & Company lowered their price objective on shares of J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, August 29th. Finally, DA Davidson reiterated a “neutral” rating and issued a $121.00 target price on shares of J. M. Smucker in a research note on Thursday, August 29th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $127.25.

J. M. Smucker Trading Down 1.0 %

Shares of NYSE:SJM opened at $119.29 on Friday. The stock has a market cap of $12.67 billion, a PE ratio of 16.75, a P/E/G ratio of 3.20 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. The J. M. Smucker Company has a 12-month low of $105.69 and a 12-month high of $134.62. The business has a 50 day moving average of $118.62 and a 200-day moving average of $116.19.

J. M. Smucker (NYSE:SJM) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $2.44 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 period in the prior year, the firm posted $2.21 EPS. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. As a group, equities research analysts forecast 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 disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th were issued a $1.08 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $4.32 dividend on an annualized basis and a yield of 3.62%. This is an increase from J. M. Smucker’s previous quarterly dividend of $1.06. J. M. Smucker’s payout ratio is currently 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.