The Manufacturers Life Insurance Company Has $10.23 Million Holdings in The J. M. Smucker Company (NYSE:SJM)

The Manufacturers Life Insurance Company lifted its holdings in shares of The J. M. Smucker Company (NYSE:SJM) by 21.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,462 shares of the company’s stock after buying an additional 15,092 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.08% of J. M. Smucker worth $10,228,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of SJM. Daiwa Securities Group Inc. boosted its holdings in J. M. Smucker by 12.4% during the third quarter. Daiwa Securities Group Inc. now owns 13,034 shares of the company’s stock worth $1,578,000 after buying an additional 1,440 shares during the last quarter. Swedbank AB grew its holdings in J. M. Smucker by 2.2% during the third quarter. Swedbank AB now owns 130,460 shares of the company’s stock valued at $15,799,000 after purchasing an additional 2,842 shares during the period. Kingsview Wealth Management LLC acquired a new stake in shares of J. M. Smucker in the third quarter valued at approximately $8,866,000. Cerity Partners LLC raised its holdings in J. M. Smucker by 6.3% during the third quarter. Cerity Partners LLC now owns 102,853 shares of the company’s stock worth $12,455,000 after acquiring an additional 6,087 shares in the last quarter. Finally, Great Valley Advisor Group Inc. bought a new position in J. M. Smucker in the third quarter valued at approximately $3,266,000. 81.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SJM shares. Citigroup cut their price objective on J. M. Smucker from $138.00 to $136.00 and set a “buy” rating for the company in a report on Thursday, August 29th. TD Cowen decreased their price objective on shares of J. M. Smucker from $135.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Barclays upped their target price on shares of J. M. Smucker from $121.00 to $126.00 and gave the company an “equal weight” rating in a report on Friday, November 29th. Bank of America reduced their price target on J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating for the company 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 research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, J. M. Smucker has an average rating of “Hold” and an average target price of $128.00.

J. M. Smucker Price Performance

NYSE:SJM opened at $117.31 on Wednesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.27 and a current ratio of 0.58. The firm has a market cap of $12.48 billion, a price-to-earnings ratio of 23.86, a P/E/G ratio of 3.37 and a beta of 0.26. The J. M. Smucker Company has a 52 week low of $105.69 and a 52 week high of $134.62. The firm’s 50-day simple moving average is $116.35 and its 200 day simple moving average is $115.67.

J. M. Smucker (NYSE:SJM) last released its quarterly earnings results on Tuesday, November 26th. The company reported $2.76 earnings per share for the quarter, beating analysts’ consensus estimates of $2.51 by $0.25. The company had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.27 billion. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.35%. The firm’s quarterly revenue was up 17.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.59 earnings per share. As a group, sell-side analysts predict that The J. M. Smucker Company will post 9.88 earnings per share for the current year.

J. M. Smucker Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were paid a dividend of $1.08 per share. The ex-dividend date was Friday, November 15th. This represents a $4.32 dividend on an annualized basis and a yield of 3.68%. J. M. Smucker’s payout ratio is 87.45%.

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.