PNC Financial Services Group Inc. Trims Stock Holdings in The J. M. Smucker Company (NYSE:SJM)

PNC Financial Services Group Inc. decreased its stake in shares of The J. M. Smucker Company (NYSE:SJM) by 1.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 136,671 shares of the company’s stock after selling 1,638 shares during the quarter. PNC Financial Services Group Inc. owned about 0.13% of J. M. Smucker worth $16,551,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Natixis increased its holdings in J. M. Smucker by 49.8% during the first quarter. Natixis now owns 11,278 shares of the company’s stock valued at $1,420,000 after buying an additional 3,748 shares during the last quarter. Axxcess Wealth Management LLC purchased a new position in J. M. Smucker during the 1st quarter valued at approximately $428,000. Westwood Holdings Group Inc. increased its position in J. M. Smucker by 25.7% in the first quarter. Westwood Holdings Group Inc. now owns 56,816 shares of the company’s stock worth $7,151,000 after purchasing an additional 11,622 shares during the last quarter. Gabelli Funds LLC raised its position in shares of J. M. Smucker by 1.0% during the 1st quarter. Gabelli Funds LLC now owns 139,050 shares of the company’s stock valued at $17,502,000 after buying an additional 1,400 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in shares of J. M. Smucker in the 1st quarter valued at approximately $554,000. Institutional investors own 81.66% of the company’s stock.

J. M. Smucker Price Performance

Shares of SJM stock opened at $113.63 on Friday. The firm has a fifty day simple moving average of $116.72 and a 200-day simple moving average of $115.51. The company has a market capitalization of $12.09 billion, a PE ratio of 16.07, a price-to-earnings-growth ratio of 3.21 and a beta of 0.25. The J. M. Smucker Company has a twelve month low of $105.69 and a twelve month high of $134.62. The company has a current ratio of 0.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.87.

J. M. Smucker (NYSE:SJM) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.27. The company had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period last year, the business earned $2.21 EPS. Equities research analysts anticipate that The J. M. Smucker Company will post 9.79 earnings per share for the current fiscal year.

J. M. Smucker Announces Dividend

The business also recently declared 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 3.80%. The ex-dividend date is Friday, November 15th. J. M. Smucker’s dividend payout ratio is currently 61.10%.

Analyst Ratings Changes

A number of research firms have weighed in on SJM. Stifel Nicolaus lowered J. M. Smucker from a “buy” rating to a “hold” rating and reduced their target price for the stock from $135.00 to $125.00 in a research note on Friday, October 25th. BNP Paribas raised J. M. Smucker to a “strong sell” rating in a research report on Thursday, August 29th. DA Davidson reiterated a “neutral” rating and issued a $121.00 target price on shares of J. M. Smucker in a research note on Thursday, August 29th. StockNews.com upgraded J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Monday, September 30th. Finally, Citigroup decreased their target price on shares of J. M. Smucker from $138.00 to $136.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $127.09.

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.