Hennion & Walsh Asset Management Inc. Sells 1,723 Shares of The J. M. Smucker Company (NYSE:SJM)

Hennion & Walsh Asset Management Inc. trimmed its holdings in The J. M. Smucker Company (NYSE:SJM) by 16.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 8,449 shares of the company’s stock after selling 1,723 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in J. M. Smucker were worth $1,023,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in SJM. Resonant Capital Advisors LLC grew its position in J. M. Smucker by 0.7% during the 1st quarter. Resonant Capital Advisors LLC now owns 14,328 shares of the company’s stock worth $1,803,000 after acquiring an additional 93 shares during the last quarter. Probity Advisors Inc. grew its holdings in shares of J. M. Smucker by 1.1% in the third quarter. Probity Advisors Inc. now owns 8,791 shares of the company’s stock worth $1,065,000 after purchasing an additional 96 shares during the last quarter. Anchor Investment Management LLC grew its holdings in shares of J. M. Smucker by 0.5% in the second quarter. Anchor Investment Management LLC now owns 19,791 shares of the company’s stock worth $2,158,000 after purchasing an additional 99 shares during the last quarter. State of Michigan Retirement System increased its stake in shares of J. M. Smucker by 0.3% in the second quarter. State of Michigan Retirement System now owns 33,561 shares of the company’s stock worth $3,659,000 after buying an additional 100 shares during the period. Finally, Romano Brothers AND Company raised its holdings in J. M. Smucker by 3.5% during the 3rd quarter. Romano Brothers AND Company now owns 2,987 shares of the company’s stock valued at $362,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SJM shares. StockNews.com upgraded shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Monday, September 30th. TD Cowen reduced their price target on J. M. Smucker from $135.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Stifel Nicolaus cut J. M. Smucker from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $135.00 to $125.00 in a report on Friday. Wells Fargo & Company cut their price objective on 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. Finally, Barclays decreased their target price on J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating for the company in a report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $126.42.

J. M. Smucker Stock Performance

Shares of SJM stock opened at $116.07 on Monday. The company’s fifty day moving average price is $118.99 and its 200-day moving average price is $115.60. The stock has a market cap of $12.33 billion, a PE ratio of 16.30, a price-to-earnings-growth ratio of 3.12 and a beta of 0.24. 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 J. M. Smucker Company has a 12 month low of $105.69 and a 12 month high of $134.62.

J. M. Smucker (NYSE:SJM) last posted its quarterly earnings data 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 net margin of 8.77% and a return on equity of 14.22%. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the firm posted $2.21 earnings per share. J. M. Smucker’s quarterly revenue was up 17.7% on a year-over-year basis. On average, equities analysts expect that The J. M. Smucker Company will post 9.82 EPS for the current fiscal year.

J. M. Smucker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend is Friday, November 15th. J. M. Smucker’s payout ratio is 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.