ProShare Advisors LLC Has $166.40 Million Stake in The J. M. Smucker Company (NYSE:SJM)

ProShare Advisors LLC increased its stake in The J. M. Smucker Company (NYSE:SJM) by 14.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,526,074 shares of the company’s stock after purchasing an additional 192,075 shares during the period. ProShare Advisors LLC owned approximately 1.44% of J. M. Smucker worth $166,403,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in SJM. Studio Investment Management LLC acquired a new position in shares of J. M. Smucker during the second quarter worth about $26,000. Cooksen Wealth LLC bought a new position in shares of J. M. Smucker during the 4th quarter worth approximately $33,000. Principal Securities Inc. acquired a new stake in shares of J. M. Smucker in the fourth quarter valued at approximately $43,000. Rothschild Investment LLC bought a new stake in shares of J. M. Smucker in the second quarter worth $42,000. Finally, Central Valley Advisors LLC acquired a new position in J. M. Smucker during the second quarter worth $45,000. Institutional investors own 81.66% of the company’s stock.

J. M. Smucker Price Performance

NYSE:SJM opened at $118.74 on Friday. The firm’s fifty day moving average price is $118.89 and its two-hundred day moving average price is $116.15. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.55 and a quick ratio of 0.25. The company has a market cap of $12.61 billion, a P/E ratio of 16.68, a P/E/G ratio of 3.20 and a beta of 0.24. The J. M. Smucker Company has a one year low of $105.69 and a one year high of $134.62.

J. M. Smucker (NYSE:SJM) last released its quarterly 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. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. The firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the prior year, the firm earned $2.21 EPS. The business’s revenue was up 17.7% on a year-over-year basis. 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 paid a $1.08 dividend. The ex-dividend date was Friday, August 16th. This is an increase from J. M. Smucker’s previous quarterly dividend of $1.06. This represents a $4.32 annualized dividend and a yield of 3.64%. J. M. Smucker’s payout ratio is 60.67%.

Analysts Set New Price Targets

Several brokerages have issued reports on SJM. BNP Paribas upgraded shares of J. M. Smucker to a “strong sell” rating in a research note on Thursday, August 29th. Barclays dropped 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. DA Davidson restated a “neutral” rating and issued a $121.00 price target on shares of J. M. Smucker in a research note on Thursday, August 29th. Bank of America lowered their price target on J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Finally, Citigroup cut their price objective 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. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, J. M. Smucker has a consensus rating of “Hold” and a consensus price target of $127.25.

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.