Alpha Omega Wealth Management LLC Reduces Stake in The J. M. Smucker Company (NYSE:SJM)

Alpha Omega Wealth Management LLC decreased its holdings in shares of The J. M. Smucker Company (NYSE:SJM) by 1.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 10,121 shares of the company’s stock after selling 187 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in J. M. Smucker were worth $1,226,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Studio Investment Management LLC purchased a new stake in shares of J. M. Smucker during the 2nd quarter worth approximately $26,000. Cooksen Wealth LLC purchased a new position in shares of J. M. Smucker during the fourth quarter worth about $33,000. Quarry LP lifted its holdings in shares of J. M. Smucker by 212.6% in the 2nd quarter. Quarry LP now owns 322 shares of the company’s stock valued at $35,000 after purchasing an additional 219 shares during the last quarter. Rothschild Investment LLC acquired a new stake in shares of J. M. Smucker in the 2nd quarter valued at about $42,000. Finally, Central Valley Advisors LLC purchased a new position in J. M. Smucker during the 2nd quarter worth approximately $45,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SJM. Citigroup lowered their target price on shares of 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. StockNews.com upgraded J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Monday. 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 upgraded shares of J. M. Smucker to a “strong sell” rating in a research report on Thursday, August 29th. Finally, Wells Fargo & Company cut their price objective 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. One investment 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $127.25.

J. M. Smucker Stock Performance

NYSE SJM opened at $117.28 on Friday. 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 company has a market capitalization of $12.48 billion, a P/E ratio of 16.47, a PEG ratio of 3.16 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. The business has a 50 day moving average price of $119.20 and a 200 day moving average price of $116.07.

J. M. Smucker (NYSE:SJM) last released its earnings results on Wednesday, August 28th. The company reported $2.44 earnings per share (EPS) 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 net margin of 8.77% and a return on equity of 14.22%. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.21 EPS. Sell-side analysts expect that The J. M. Smucker Company will post 9.82 EPS 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. Stockholders 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 annualized dividend and a dividend yield of 3.68%. The ex-dividend date was Friday, August 16th. J. M. Smucker’s dividend payout ratio is presently 60.67%.

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.