Raymond James & Associates Purchases 18,767 Shares of The J. M. Smucker Company (NYSE:SJM)

Raymond James & Associates increased its holdings in shares of The J. M. Smucker Company (NYSE:SJM) by 7.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 259,394 shares of the company’s stock after purchasing an additional 18,767 shares during the period. Raymond James & Associates owned 0.24% of J. M. Smucker worth $31,413,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Studio Investment Management LLC acquired a new position in shares of J. M. Smucker during the 2nd quarter worth approximately $26,000. Quarry LP raised its position in shares of J. M. Smucker by 212.6% in the second quarter. Quarry LP now owns 322 shares of the company’s stock valued at $35,000 after purchasing an additional 219 shares during the period. Rothschild Investment LLC acquired a new stake in shares of J. M. Smucker during the 2nd quarter worth about $42,000. Trivant Custom Portfolio Group LLC acquired a new position in J. M. Smucker in the 3rd quarter valued at about $42,000. Finally, Central Valley Advisors LLC bought a new position in J. M. Smucker in the 2nd quarter valued at about $45,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

J. M. Smucker Stock Performance

SJM opened at $117.70 on Thursday. 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 J. M. Smucker Company has a fifty-two week low of $105.69 and a fifty-two week high of $134.62. The company’s 50 day moving average price is $119.13 and its two-hundred day moving average price is $115.57. The firm has a market capitalization of $12.50 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 3.22 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 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the business posted $2.21 earnings per share. J. M. Smucker’s quarterly revenue was up 17.7% on a year-over-year basis. As a group, research analysts predict that The J. M. Smucker Company will post 9.82 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SJM shares. Citigroup decreased their target price on 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. Barclays lowered their price objective 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. BNP Paribas raised J. M. Smucker to a “strong sell” rating in a 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 on the stock in a research note on Thursday, August 29th. Finally, DA Davidson reiterated a “neutral” rating and issued a $121.00 price objective on shares of J. M. Smucker in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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.