Trivant Custom Portfolio Group LLC Acquires New Holdings in The J. M. Smucker Company (NYSE:SJM)

Trivant Custom Portfolio Group LLC bought a new stake in The J. M. Smucker Company (NYSE:SJM) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 350 shares of the company’s stock, valued at approximately $42,000.

Several other hedge funds also recently bought and sold shares of the company. Boston Partners acquired a new stake in J. M. Smucker during the 1st quarter worth $364,990,000. Point72 Asset Management L.P. lifted its holdings in shares of J. M. Smucker by 21,858.1% during the 4th quarter. Point72 Asset Management L.P. now owns 680,700 shares of the company’s stock valued at $86,027,000 after purchasing an additional 677,600 shares in the last quarter. Bank of Montreal Can increased its stake in J. M. Smucker by 186.3% during the 2nd quarter. Bank of Montreal Can now owns 805,029 shares of the company’s stock worth $90,195,000 after purchasing an additional 523,803 shares in the last quarter. Vanguard Group Inc. raised its holdings in J. M. Smucker by 4.0% during 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 during the period. Finally, Ariel Investments LLC lifted its stake in J. M. Smucker by 56.0% in the second quarter. Ariel Investments LLC now owns 1,354,999 shares of the company’s stock valued at $147,749,000 after buying an additional 486,624 shares in the last quarter. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. DA Davidson restated a “neutral” rating and set a $121.00 price objective on shares of J. M. Smucker in a report on Thursday, August 29th. StockNews.com upgraded J. M. Smucker from a “sell” rating to a “hold” rating in a report on Monday, September 30th. BNP Paribas upgraded J. M. Smucker to a “strong sell” rating in a report on Thursday, August 29th. Barclays cut their target price on J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating on the stock in a research note on Friday, August 30th. Finally, Citigroup reduced their price target on J. M. Smucker from $138.00 to $136.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $127.25.

J. M. Smucker Stock Performance

NYSE SJM traded up $0.11 on Friday, hitting $117.39. 733,326 shares of the stock were exchanged, compared to its average volume of 1,199,820. The business’s fifty day moving average is $119.21 and its 200 day moving average is $116.04. The J. M. Smucker Company has a 52 week low of $105.69 and a 52 week high of $134.62. The company has a market capitalization of $12.49 billion, a PE ratio of 16.49, a P/E/G ratio of 3.16 and a beta of 0.24. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.55 and a quick ratio of 0.25.

J. M. Smucker (NYSE:SJM) last issued its earnings results on Wednesday, August 28th. The company reported $2.44 EPS for the quarter, topping the consensus estimate 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 company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the company posted $2.21 EPS. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. Research analysts anticipate 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 announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th were paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.68%. 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 dividend payout ratio (DPR) is currently 60.67%.

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.