Anchor Investment Management LLC Purchases 99 Shares of The J. M. Smucker Company (NYSE:SJM)

Anchor Investment Management LLC lifted its position in The J. M. Smucker Company (NYSE:SJM) by 0.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,791 shares of the company’s stock after buying an additional 99 shares during the period. Anchor Investment Management LLC’s holdings in J. M. Smucker were worth $2,158,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its position in J. M. Smucker by 298.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 20,270 shares of the company’s stock valued at $2,562,000 after acquiring an additional 15,182 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of J. M. Smucker by 5.5% during the fourth quarter. California State Teachers Retirement System now owns 170,552 shares of the company’s stock valued at $21,554,000 after buying an additional 8,960 shares during the last quarter. Vanguard Group Inc. increased its holdings in J. M. Smucker by 4.0% in the 4th quarter. Vanguard Group Inc. now owns 13,471,395 shares of the company’s stock worth $1,702,515,000 after buying an additional 518,433 shares in the last quarter. AMF Tjanstepension AB purchased a new position in J. M. Smucker in the 1st quarter worth about $23,990,000. Finally, Goldman Sachs Group Inc. lifted its stake in J. M. Smucker by 23.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 419,134 shares of the company’s stock valued at $52,970,000 after acquiring an additional 78,807 shares during the period. Hedge funds and other institutional investors own 81.66% of the company’s stock.

J. M. Smucker Stock Performance

SJM opened at $119.12 on Thursday. The company has a 50 day simple moving average of $119.20 and a two-hundred day simple moving average of $116.07. 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 firm has a market cap of $12.65 billion, a P/E ratio of 16.73, a PEG ratio of 3.21 and a beta of 0.24. The J. M. Smucker Company has a 1-year low of $105.69 and a 1-year high of $134.62.

J. M. Smucker (NYSE:SJM) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $2.44 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $2.13 billion. During the same quarter in the prior year, the business posted $2.21 EPS. J. M. Smucker’s revenue for the quarter was up 17.7% compared to the same quarter last year. Equities analysts forecast that The J. M. Smucker Company will post 9.82 earnings per share for the current fiscal year.

J. M. Smucker Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th were issued a dividend of $1.08 per share. This is a positive change from J. M. Smucker’s previous quarterly dividend of $1.06. This represents a $4.32 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date was Friday, August 16th. J. M. Smucker’s dividend payout ratio (DPR) is 60.67%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SJM shares. TD Cowen reduced their price target on shares of J. M. Smucker from $135.00 to $132.00 and set a “buy” rating for the company 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 report on Thursday, August 29th. Wells Fargo & Company cut their price objective on J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, August 29th. Barclays lowered 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. Finally, DA Davidson restated a “neutral” rating and set a $121.00 price target 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 issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock 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.