The J. M. Smucker Company (NYSE:SJM) Shares Sold by M&G Plc

M&G Plc cut its holdings in The J. M. Smucker Company (NYSE:SJM) by 7.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 5,120 shares of the company’s stock after selling 410 shares during the period. M&G Plc’s holdings in J. M. Smucker were worth $620,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Boston Partners bought a new position in shares of J. M. Smucker during the first quarter valued at approximately $364,990,000. Dimensional Fund Advisors LP lifted its stake in J. M. Smucker by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,783,183 shares of the company’s stock valued at $194,435,000 after buying an additional 135,158 shares during the last quarter. ProShare Advisors LLC grew its position in shares of J. M. Smucker by 14.4% during the second quarter. ProShare Advisors LLC now owns 1,526,074 shares of the company’s stock worth $166,403,000 after acquiring an additional 192,075 shares during the last quarter. Champlain Investment Partners LLC increased its holdings in shares of J. M. Smucker by 29.0% in the 1st quarter. Champlain Investment Partners LLC now owns 1,457,995 shares of the company’s stock worth $183,518,000 after acquiring an additional 327,680 shares during the period. Finally, Ariel Investments LLC lifted its position in J. M. Smucker by 56.0% in the 2nd quarter. Ariel Investments LLC now owns 1,354,999 shares of the company’s stock valued at $147,749,000 after purchasing an additional 486,624 shares during the last quarter. Institutional investors own 81.66% of the company’s stock.

Analysts Set New Price Targets

SJM has been the topic of several analyst reports. Stifel Nicolaus lowered shares of J. M. Smucker from a “buy” rating to a “hold” rating and dropped their price target for the company from $135.00 to $125.00 in a research note on Friday, October 25th. BNP Paribas upgraded J. M. Smucker to a “strong sell” rating in a research report on Thursday, August 29th. TD Cowen lowered 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. Barclays reduced their price objective on shares of 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. Finally, Wells Fargo & Company lowered 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 note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $126.42.

J. M. Smucker Stock Performance

Shares of SJM opened at $115.45 on Friday. The J. M. Smucker Company has a 12-month low of $105.69 and a 12-month high of $134.62. The stock has a market capitalization of $12.29 billion, a P/E ratio of 16.33, a P/E/G ratio of 3.30 and a beta of 0.25. The firm’s 50 day moving average is $118.07 and its 200-day moving average is $115.72. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.55 and a quick ratio of 0.25.

J. M. Smucker (NYSE:SJM) last posted 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. The company had revenue of $2.13 billion for 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 quarter in the prior year, the company earned $2.21 earnings per share. Equities research analysts anticipate 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. Shareholders of record on Friday, November 15th will be issued a dividend of $1.08 per share. The ex-dividend date is Friday, November 15th. This represents a $4.32 annualized dividend and a yield of 3.74%. J. M. Smucker’s payout ratio is presently 61.10%.

J. M. Smucker 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.