Amalgamated Bank Grows Stock Holdings in The J. M. Smucker Company (NYSE:SJM)

Amalgamated Bank boosted its holdings in The J. M. Smucker Company (NYSE:SJM) by 22.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 26,493 shares of the company’s stock after purchasing an additional 4,862 shares during the quarter. Amalgamated Bank’s holdings in J. M. Smucker were worth $2,889,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SJM. Meiji Yasuda Asset Management Co Ltd. raised its position in shares of J. M. Smucker by 12.7% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 88,502 shares of the company’s stock worth $9,650,000 after acquiring an additional 9,970 shares in the last quarter. Edgestream Partners L.P. raised its holdings in J. M. Smucker by 73.3% during the second quarter. Edgestream Partners L.P. now owns 28,044 shares of the company’s stock worth $3,058,000 after purchasing an additional 11,862 shares in the last quarter. Moors & Cabot Inc. purchased a new stake in shares of J. M. Smucker during the 2nd quarter worth approximately $983,000. Renaissance Technologies LLC boosted its holdings in shares of J. M. Smucker by 77.7% in the 2nd quarter. Renaissance Technologies LLC now owns 428,848 shares of the company’s stock valued at $46,762,000 after buying an additional 187,481 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of J. M. Smucker in the 2nd quarter valued at $6,321,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

J. M. Smucker Stock Up 0.2 %

Shares of NYSE:SJM opened at $118.97 on Tuesday. 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 has a quick ratio of 0.25, a current ratio of 0.55 and a debt-to-equity ratio of 0.87. The firm’s 50-day simple moving average is $118.94 and its 200-day simple moving average is $116.14. The company has a market cap of $12.63 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 3.20 and a beta of 0.24.

J. M. Smucker (NYSE:SJM) last announced 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 for 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%. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.21 EPS. As a group, equities research analysts predict that The J. M. Smucker Company will post 9.82 earnings per share for the current year.

J. M. Smucker Increases Dividend

The firm also recently announced 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 was Friday, August 16th. This represents a $4.32 dividend on an annualized basis and a yield of 3.63%. This is an increase from J. M. Smucker’s previous quarterly dividend of $1.06. J. M. Smucker’s dividend payout ratio (DPR) is 60.67%.

Wall Street Analyst Weigh In

Several research firms have issued reports on SJM. 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 note on Friday, August 30th. Citigroup dropped their price target on J. M. Smucker from $138.00 to $136.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Wells Fargo & Company reduced their price objective on J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, August 29th. TD Cowen lowered their target price on shares of J. M. Smucker from $135.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Finally, Bank of America reduced 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 report on Thursday, August 29th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price 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.