The J. M. Smucker Company (NYSE:SJM) Shares Purchased by Joseph Group Capital Management

Joseph Group Capital Management raised its holdings in The J. M. Smucker Company (NYSE:SJM) by 12.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,144 shares of the company’s stock after purchasing an additional 1,928 shares during the quarter. Joseph Group Capital Management’s holdings in J. M. Smucker were worth $1,869,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SJM. Boston Partners acquired a new position in J. M. Smucker during the first quarter worth $364,990,000. Norges Bank purchased a new position in shares of J. M. Smucker in the 4th quarter valued at about $157,077,000. 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 valued at $86,027,000 after purchasing an additional 677,600 shares during the period. Vanguard Group Inc. boosted its holdings 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 in the last quarter. Finally, Ilex Capital Partners UK LLP acquired a new position in J. M. Smucker during the first quarter worth about $48,207,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

J. M. Smucker Stock Down 1.0 %

SJM stock opened at $119.29 on Friday. The J. M. Smucker Company has a one year low of $105.69 and a one year high of $134.62. The stock has a market capitalization of $12.67 billion, a P/E ratio of 16.75, a PEG ratio of 3.20 and a beta of 0.24. The company has a 50 day moving average price of $118.62 and a two-hundred day moving average price of $116.19. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.25 and a current ratio of 0.55.

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 return on equity of 14.22% and a net margin of 8.77%. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the firm posted $2.21 earnings per share. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. As a group, sell-side analysts expect that The J. M. Smucker Company will post 9.82 EPS for the current year.

J. M. Smucker Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors 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 3.62%. This is an increase 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 payout ratio is presently 60.67%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. DA Davidson reiterated a “neutral” rating and set a $121.00 price target on shares of J. M. Smucker in a research report on Thursday, August 29th. TD Cowen decreased their target price on J. M. Smucker from $135.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Citigroup dropped their price target on J. M. Smucker from $138.00 to $136.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. StockNews.com lowered shares of J. M. Smucker from a “hold” rating to a “sell” rating in a research report on Saturday, September 14th. Finally, BNP Paribas upgraded shares of J. M. Smucker to a “strong sell” rating in a report on Thursday, August 29th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $127.25.

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.