Federated Hermes Inc. Lowers Stock Holdings in The J. M. Smucker Company (NYSE:SJM)

Federated Hermes Inc. lessened its holdings in The J. M. Smucker Company (NYSE:SJM) by 11.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 12,989 shares of the company’s stock after selling 1,646 shares during the period. Federated Hermes Inc.’s holdings in J. M. Smucker were worth $1,416,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. GHP Investment Advisors Inc. grew its position in shares of J. M. Smucker by 9.6% during the second quarter. GHP Investment Advisors Inc. now owns 40,171 shares of the company’s stock worth $4,380,000 after purchasing an additional 3,522 shares in the last quarter. Meeder Advisory Services Inc. boosted its stake in J. M. Smucker by 44.5% in the 2nd quarter. Meeder Advisory Services Inc. now owns 3,654 shares of the company’s stock worth $398,000 after purchasing an additional 1,125 shares during the period. Vest Financial LLC grew its holdings in J. M. Smucker by 29.7% during the 2nd quarter. Vest Financial LLC now owns 375,352 shares of the company’s stock valued at $40,928,000 after buying an additional 85,850 shares in the last quarter. Wambolt & Associates LLC grew its holdings in J. M. Smucker by 2.8% during the 2nd quarter. Wambolt & Associates LLC now owns 4,882 shares of the company’s stock valued at $539,000 after buying an additional 135 shares in the last quarter. Finally, Achmea Investment Management B.V. raised its position in shares of J. M. Smucker by 18.1% during the second quarter. Achmea Investment Management B.V. now owns 8,382 shares of the company’s stock valued at $914,000 after buying an additional 1,283 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

J. M. Smucker Stock Performance

NYSE:SJM opened at $118.74 on Friday. The firm has a market capitalization of $12.61 billion, a PE ratio of 16.68, a PEG ratio of 3.20 and a beta of 0.24. The stock’s fifty day moving average is $118.78 and its 200 day moving average is $116.21. The J. M. Smucker Company has a fifty-two week low of $105.69 and a fifty-two week high of $134.62. 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 announced its earnings results on Wednesday, August 28th. The company reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.27. The business had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.21 earnings per share. On average, sell-side analysts anticipate 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 declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th were issued a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 3.64%. 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 dividend payout ratio is presently 60.67%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SJM. Citigroup dropped their target price on shares of 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. BNP Paribas raised shares of J. M. Smucker to a “strong sell” rating in a report on Thursday, August 29th. StockNews.com cut J. M. Smucker from a “hold” rating to a “sell” rating in a report on Saturday, September 14th. DA Davidson reiterated a “neutral” rating and issued a $121.00 target price on shares of J. M. Smucker in a research report on Thursday, August 29th. Finally, Barclays cut their price target on J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating for the company in a report on Friday, August 30th. Two 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 stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $127.25.

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.