New York State Teachers Retirement System Sells 116 Shares of The J. M. Smucker Company (NYSE:SJM)

New York State Teachers Retirement System trimmed its stake in The J. M. Smucker Company (NYSE:SJM) by 0.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 89,174 shares of the company’s stock after selling 116 shares during the period. New York State Teachers Retirement System owned about 0.08% of J. M. Smucker worth $10,799,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Trajan Wealth LLC boosted its holdings in J. M. Smucker by 11.8% in the 3rd quarter. Trajan Wealth LLC now owns 39,035 shares of the company’s stock valued at $4,727,000 after purchasing an additional 4,113 shares during the period. Cantor Fitzgerald Investment Advisors L.P. boosted its stake in J. M. Smucker by 0.5% during the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 123,382 shares of the company’s stock worth $14,942,000 after acquiring an additional 673 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of J. M. Smucker by 2.3% in the third quarter. Nisa Investment Advisors LLC now owns 6,070 shares of the company’s stock worth $735,000 after buying an additional 134 shares in the last quarter. J.W. Cole Advisors Inc. lifted its position in J. M. Smucker by 35.2% during the third quarter. J.W. Cole Advisors Inc. now owns 5,851 shares of the company’s stock valued at $709,000 after purchasing an additional 1,524 shares during the period. Finally, Frank Rimerman Advisors LLC purchased a new stake in J. M. Smucker during the third quarter valued at approximately $222,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

J. M. Smucker Price Performance

NYSE:SJM opened at $112.92 on Monday. The J. M. Smucker Company has a 12 month low of $105.69 and a 12 month high of $134.62. 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. The company has a quick ratio of 0.25, a current ratio of 0.55 and a debt-to-equity ratio of 0.87. The company’s 50-day moving average price is $118.25 and its two-hundred day moving average price is $115.68.

J. M. Smucker (NYSE:SJM) last released its quarterly earnings results on Wednesday, August 28th. The company reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.27. The company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.13 billion. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.21 earnings per share. On average, equities analysts anticipate that The J. M. Smucker Company will post 9.8 EPS for the current fiscal year.

J. M. Smucker Dividend Announcement

The company also recently disclosed 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. 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 dividend payout ratio is currently 61.10%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SJM. Bank of America cut their target price on shares of J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Stifel Nicolaus downgraded shares of J. M. Smucker from a “buy” rating to a “hold” rating and cut their target price for the company from $135.00 to $125.00 in a research report on Friday, October 25th. Wells Fargo & Company cut their price objective 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. Barclays lowered their target price on shares of J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating for the company in a research note on Friday, August 30th. Finally, StockNews.com upgraded shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Monday, September 30th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, J. M. Smucker currently has a consensus 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.