Skandinaviska Enskilda Banken AB publ Grows Stock Position in The J. M. Smucker Company (NYSE:SJM)

Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of The J. M. Smucker Company (NYSE:SJM) by 18.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 29,873 shares of the company’s stock after acquiring an additional 4,700 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in J. M. Smucker were worth $3,257,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Studio Investment Management LLC purchased a new stake in J. M. Smucker during the 2nd quarter worth approximately $26,000. Cooksen Wealth LLC acquired a new position in shares of J. M. Smucker in the 4th quarter valued at $33,000. Rothschild Investment LLC purchased a new position in J. M. Smucker in the 2nd quarter worth $42,000. Principal Securities Inc. acquired a new stake in J. M. Smucker during the 4th quarter worth about $43,000. Finally, Central Valley Advisors LLC purchased a new stake in J. M. Smucker during the 2nd quarter valued at about $45,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on SJM. Citigroup decreased their price objective on shares of J. M. Smucker from $138.00 to $136.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Wells Fargo & Company decreased their target price 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. Barclays cut their price target on J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating on the stock in a research report on Friday, August 30th. Bank of America lowered their target price on J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Finally, StockNews.com cut J. M. Smucker from a “hold” rating to a “sell” rating in a research report on Saturday, September 14th. 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. Based on data from MarketBeat.com, J. M. Smucker has an average rating of “Hold” and a consensus price target of $127.25.

J. M. Smucker Stock Down 0.5 %

Shares of NYSE SJM opened at $118.74 on Monday. The J. M. Smucker Company has a 52-week low of $105.69 and a 52-week high of $134.62. 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 company’s 50-day simple moving average is $118.89 and its 200-day simple moving average is $116.13. The firm has a market cap of $12.61 billion, a price-to-earnings ratio of 16.68, a price-to-earnings-growth ratio of 3.20 and a beta of 0.24.

J. M. Smucker (NYSE:SJM) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $2.44 EPS for the quarter, topping the consensus estimate of $2.17 by $0.27. The company had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. J. M. Smucker had a return on equity of 14.22% and a net margin of 8.77%. J. M. Smucker’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.21 EPS. Equities analysts predict that The J. M. Smucker Company will post 9.82 EPS for the current fiscal year.

J. M. Smucker Increases Dividend

The company 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 3.64%. This is a positive change from J. M. Smucker’s previous quarterly dividend of $1.06. J. M. Smucker’s dividend payout ratio (DPR) is presently 60.67%.

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.