Ballentine Partners LLC Acquires 1,087 Shares of The J. M. Smucker Company (NYSE:SJM)

Ballentine Partners LLC raised its position in The J. M. Smucker Company (NYSE:SJM) by 21.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 6,187 shares of the company’s stock after purchasing an additional 1,087 shares during the period. Ballentine Partners LLC’s holdings in J. M. Smucker were worth $749,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Studio Investment Management LLC acquired a new position in shares of J. M. Smucker in the 2nd quarter worth approximately $26,000. Quarry LP lifted its position in shares of J. M. Smucker by 212.6% in the 2nd quarter. Quarry LP now owns 322 shares of the company’s stock worth $35,000 after purchasing an additional 219 shares during the period. Eastern Bank acquired a new position in shares of J. M. Smucker in the 3rd quarter worth approximately $40,000. Trivant Custom Portfolio Group LLC acquired a new position in shares of J. M. Smucker in the 3rd quarter worth approximately $42,000. Finally, Rothschild Investment LLC acquired a new position in shares of J. M. Smucker in the 2nd quarter worth approximately $42,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

J. M. Smucker Stock Performance

SJM opened at $116.07 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.87. The company’s fifty day moving average price is $118.99 and its two-hundred day moving average price is $115.58. The J. M. Smucker Company has a 1-year low of $105.69 and a 1-year high of $134.62. The company has a market cap of $12.33 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 3.12 and a beta of 0.24.

J. M. Smucker (NYSE:SJM) last released its quarterly earnings data on Wednesday, August 28th. The company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.27. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the company posted $2.21 earnings per share. The business’s revenue was up 17.7% on a year-over-year basis. On average, analysts expect that The J. M. Smucker Company will post 9.82 EPS for the current fiscal year.

J. M. Smucker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be paid a $1.08 dividend. The ex-dividend date is Friday, November 15th. This represents a $4.32 annualized dividend and a dividend yield of 3.72%. J. M. Smucker’s payout ratio is 60.67%.

Wall Street Analysts Forecast Growth

SJM has been the topic of a number of recent analyst reports. Stifel Nicolaus downgraded shares of J. M. Smucker from a “buy” rating to a “hold” rating and dropped their price target for the stock from $135.00 to $125.00 in a research report on Friday. Barclays dropped their target price on shares of J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating on the stock in a research report on Friday, August 30th. StockNews.com upgraded shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Monday, September 30th. 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 dropped their target price on shares of J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, J. M. Smucker presently has an average rating of “Hold” and a consensus price target of $126.42.

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.