The J. M. Smucker Company (NYSE:SJM) Shares Purchased by Raymond James Trust N.A.

Raymond James Trust N.A. raised its stake in The J. M. Smucker Company (NYSE:SJM) by 6.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,846 shares of the company’s stock after acquiring an additional 310 shares during the quarter. Raymond James Trust N.A.’s holdings in J. M. Smucker were worth $587,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Assenagon Asset Management S.A. lifted its stake in shares of J. M. Smucker by 6,703.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 159,873 shares of the company’s stock valued at $17,433,000 after purchasing an additional 157,523 shares during the period. Cetera Investment Advisers raised its position in shares of J. M. Smucker by 62.0% in the first quarter. Cetera Investment Advisers now owns 24,174 shares of the company’s stock worth $3,043,000 after acquiring an additional 9,250 shares during the period. Swedbank AB raised its position in shares of J. M. Smucker by 14.1% in the second quarter. Swedbank AB now owns 127,618 shares of the company’s stock worth $13,915,000 after acquiring an additional 15,792 shares during the period. Westwood Holdings Group Inc. boosted its stake in shares of J. M. Smucker by 25.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 56,816 shares of the company’s stock worth $7,151,000 after acquiring an additional 11,622 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of J. M. Smucker during the 1st quarter valued at about $554,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SJM shares. Bank of America lowered their price target on J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. StockNews.com raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Monday, September 30th. Wells Fargo & Company cut their price target on shares of J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, August 29th. Stifel Nicolaus downgraded shares of J. M. Smucker from a “buy” rating to a “hold” rating and decreased their price objective for the company from $135.00 to $125.00 in a report on Friday, October 25th. Finally, Barclays cut 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. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, J. M. Smucker presently has an average rating of “Hold” and an average target price of $127.09.

J. M. Smucker Stock Up 0.3 %

SJM stock opened at $113.65 on Tuesday. The company has a current ratio of 0.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.87. The firm has a 50-day moving average of $116.42 and a two-hundred day moving average of $115.55. The J. M. Smucker Company has a 12 month low of $105.69 and a 12 month high of $134.62. The company has a market cap of $12.09 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 3.18 and a beta of 0.25.

J. M. Smucker (NYSE:SJM) last posted its quarterly 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. J. M. Smucker had a return on equity of 14.22% and a net margin of 8.77%. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the firm earned $2.21 EPS. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. As a group, analysts forecast that The J. M. Smucker Company will post 9.79 earnings per share for the current fiscal year.

J. M. Smucker Announces Dividend

The company also recently declared 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. The ex-dividend date is Friday, November 15th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.80%. J. M. Smucker’s dividend payout ratio is currently 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.