Intech Investment Management LLC Has $3.82 Million Stock Holdings in The J. M. Smucker Company (NYSE:SJM)

Intech Investment Management LLC grew its holdings in The J. M. Smucker Company (NYSE:SJM) by 14.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 35,002 shares of the company’s stock after purchasing an additional 4,539 shares during the period. Intech Investment Management LLC’s holdings in J. M. Smucker were worth $3,817,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Tower Research Capital LLC TRC raised its stake in J. M. Smucker by 298.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 20,270 shares of the company’s stock worth $2,562,000 after acquiring an additional 15,182 shares in the last quarter. California State Teachers Retirement System lifted its stake in J. M. Smucker by 5.5% in the 4th quarter. California State Teachers Retirement System now owns 170,552 shares of the company’s stock valued at $21,554,000 after purchasing an additional 8,960 shares during the last quarter. Vanguard Group Inc. boosted its position in J. M. Smucker by 4.0% in the fourth 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. AMF Tjanstepension AB bought a new stake in shares of J. M. Smucker during the first quarter worth $23,990,000. Finally, Cantor Fitzgerald Investment Advisors L.P. acquired a new position in shares of J. M. Smucker during the fourth quarter worth $14,198,000. 81.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SJM. BNP Paribas upgraded J. M. Smucker to a “strong sell” rating in a research report on Thursday, August 29th. DA Davidson reaffirmed a “neutral” rating and issued a $121.00 price objective on shares of J. M. Smucker in a research note on Thursday, August 29th. Citigroup cut their target price on shares of J. M. Smucker from $138.00 to $136.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Wells Fargo & Company decreased their price target on shares of J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, August 29th. Finally, Argus cut 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. 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 company’s stock. According to data from MarketBeat, J. M. Smucker has a consensus rating of “Hold” and a consensus target price of $127.25.

J. M. Smucker Stock Performance

SJM stock opened at $118.74 on Friday. The firm has a market cap of $12.61 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 3.20 and a beta of 0.24. The company has a current ratio of 0.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.87. The stock has a 50-day moving average price of $118.89 and a 200-day moving average price of $116.15. The J. M. Smucker Company has a 1-year low of $105.69 and a 1-year high of $134.62.

J. M. Smucker (NYSE:SJM) last issued its earnings results on Wednesday, August 28th. The company reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.27. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. J. M. Smucker had a return on equity of 14.22% and a net margin of 8.77%. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.21 earnings per share. As a group, equities research 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 business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders 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 3.64%. This is a boost 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 (DPR) is presently 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.