First Trust Direct Indexing L.P. Acquires 924 Shares of The J. M. Smucker Company (NYSE:SJM)

First Trust Direct Indexing L.P. lifted its position in shares of The J. M. Smucker Company (NYSE:SJM) by 17.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,197 shares of the company’s stock after purchasing an additional 924 shares during the period. First Trust Direct Indexing L.P.’s holdings in J. M. Smucker were worth $750,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in SJM. Boston Partners bought a new stake in shares of J. M. Smucker during the first quarter worth about $364,990,000. Bank of Montreal Can grew its holdings in shares of J. M. Smucker by 186.3% during the second 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 during the last quarter. Ariel Investments LLC grew its holdings in shares of J. M. Smucker by 56.0% during the second quarter. Ariel Investments LLC now owns 1,354,999 shares of the company’s stock worth $147,749,000 after purchasing an additional 486,624 shares during the last quarter. Ilex Capital Partners UK LLP bought a new stake in shares of J. M. Smucker during the first quarter worth about $48,207,000. Finally, Champlain Investment Partners LLC grew its holdings in shares of J. M. Smucker by 29.0% during the first quarter. Champlain Investment Partners LLC now owns 1,457,995 shares of the company’s stock worth $183,518,000 after purchasing an additional 327,680 shares during the last quarter. 81.66% of the stock is currently owned by institutional investors.

J. M. Smucker Price Performance

Shares of SJM opened at $112.92 on Friday. 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 debt-to-equity ratio of 0.87, a quick ratio of 0.25 and a current ratio of 0.55. The business’s 50 day moving average price is $118.25 and its two-hundred day moving average price is $115.64. The firm has a market cap of $12.02 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 3.24 and a beta of 0.25.

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, beating 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 firm had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the firm earned $2.21 earnings per share. The company’s revenue was up 17.7% compared to the same quarter last year. On average, equities analysts anticipate that The J. M. Smucker Company will post 9.8 EPS for the current year.

J. M. Smucker Announces Dividend

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 given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend is Friday, November 15th. J. M. Smucker’s payout ratio is 61.10%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SJM shares. Barclays reduced their price target 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. TD Cowen cut their price objective on J. M. Smucker from $135.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Citigroup cut their price objective on J. M. Smucker from $138.00 to $136.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. DA Davidson reaffirmed a “neutral” rating and issued a $121.00 price objective on shares of J. M. Smucker in a research note on Thursday, August 29th. Finally, StockNews.com raised J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $126.42.

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.