Farther Finance Advisors LLC Buys 450 Shares of The J. M. Smucker Company (NYSE:SJM)

Farther Finance Advisors LLC grew its stake in shares of The J. M. Smucker Company (NYSE:SJM) by 28.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 2,046 shares of the company’s stock after acquiring an additional 450 shares during the quarter. Farther Finance Advisors LLC’s holdings in J. M. Smucker were worth $248,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Studio Investment Management LLC bought a new stake in shares of J. M. Smucker in the 2nd quarter valued at $26,000. Quarry LP grew its stake in J. M. Smucker by 212.6% in the second quarter. Quarry LP now owns 322 shares of the company’s stock valued at $35,000 after acquiring an additional 219 shares during the period. Eastern Bank acquired a new position in J. M. Smucker in the third quarter valued at about $40,000. Rothschild Investment LLC bought a new stake in shares of J. M. Smucker in the second quarter worth about $42,000. Finally, Trivant Custom Portfolio Group LLC acquired a new stake in shares of J. M. Smucker during the third quarter worth about $42,000. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SJM shares. Stifel Nicolaus downgraded J. M. Smucker from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $135.00 to $125.00 in a report on Friday, October 25th. Barclays cut their price objective on J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating for the company in a research report on Friday, August 30th. Citigroup decreased their target price on J. M. Smucker from $138.00 to $136.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. BNP Paribas raised shares of J. M. Smucker to a “strong sell” rating in a report on Thursday, August 29th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $121.00 price objective on shares of J. M. Smucker in a report on Thursday, August 29th. One equities 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.com, the company presently has a consensus rating of “Hold” and an average target price of $126.42.

J. M. Smucker Stock Performance

Shares of SJM opened at $115.45 on Friday. 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 stock has a market capitalization of $12.29 billion, a price-to-earnings ratio of 16.33, a price-to-earnings-growth ratio of 3.30 and a beta of 0.25. The J. M. Smucker Company has a 52-week low of $105.69 and a 52-week high of $134.62. The stock’s 50-day simple moving average is $118.07 and its 200 day simple moving average is $115.72.

J. M. Smucker (NYSE:SJM) last posted 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. The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.13 billion. J. M. Smucker had a return on equity of 14.22% and a net margin of 8.77%. The firm’s revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.21 earnings per share. Research analysts forecast that The J. M. Smucker Company will post 9.8 EPS for the current fiscal year.

J. M. Smucker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend is Friday, November 15th. J. M. Smucker’s dividend payout ratio is currently 61.10%.

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.