Kendall Capital Management Cuts Stake in The J. M. Smucker Company (NYSE:SJM)

Kendall Capital Management lessened its holdings in The J. M. Smucker Company (NYSE:SJM) by 15.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,330 shares of the company’s stock after selling 440 shares during the period. Kendall Capital Management’s holdings in J. M. Smucker were worth $254,000 as of its most recent SEC filing.

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

J. M. Smucker Stock Down 1.0 %

J. M. Smucker stock opened at $119.29 on Friday. The stock has a 50-day simple moving average of $118.62 and a 200-day simple moving average of $116.19. The company has a market capitalization of $12.67 billion, a P/E ratio of 16.75, a PEG ratio of 3.20 and a beta of 0.24. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.25 and a current ratio of 0.55. The J. M. Smucker Company has a fifty-two week low of $105.69 and a fifty-two week high of $134.62.

J. M. Smucker (NYSE:SJM) last issued 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. The company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the business earned $2.21 earnings per share. 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. Investors of record on Friday, August 16th were given a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 3.62%. The ex-dividend date was Friday, August 16th. This is a boost from J. M. Smucker’s previous quarterly dividend of $1.06. J. M. Smucker’s payout ratio is 60.67%.

Analyst Ratings Changes

A number of research analysts recently issued reports on SJM shares. Bank of America decreased their price target on shares of J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Barclays decreased their price objective on shares of J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating for the company in a research report on Friday, August 30th. Argus dropped their target price on J. M. Smucker from $150.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, June 13th. BNP Paribas raised J. M. Smucker to a “strong sell” rating in a report on Thursday, August 29th. Finally, Citigroup dropped their price objective on J. M. Smucker from $138.00 to $136.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, J. M. Smucker presently has a consensus 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.