Pacer Advisors Inc. Sells 14,080 Shares of The J. M. Smucker Company (NYSE:SJM)

Pacer Advisors Inc. decreased its position in shares of The J. M. Smucker Company (NYSE:SJM) by 54.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,796 shares of the company’s stock after selling 14,080 shares during the period. Pacer Advisors Inc.’s holdings in J. M. Smucker were worth $1,286,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Studio Investment Management LLC bought a new stake in J. M. Smucker during the 2nd quarter worth approximately $26,000. Cooksen Wealth LLC bought a new stake in J. M. Smucker during the 4th quarter worth approximately $33,000. Rothschild Investment LLC bought a new stake in J. M. Smucker during the 2nd quarter worth approximately $42,000. Central Valley Advisors LLC bought a new stake in J. M. Smucker during the 2nd quarter worth approximately $45,000. Finally, Quest Partners LLC raised its position in shares of J. M. Smucker by 2,347.1% during the second quarter. Quest Partners LLC now owns 416 shares of the company’s stock valued at $45,000 after buying an additional 399 shares during the last quarter. Institutional investors own 81.66% of the company’s stock.

J. M. Smucker Trading Up 1.1 %

SJM stock opened at $121.15 on Friday. The company has a quick ratio of 0.25, a current ratio of 0.55 and a debt-to-equity ratio of 0.87. The J. M. Smucker Company has a twelve month low of $105.69 and a twelve month high of $134.62. The stock has a market capitalization of $12.87 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 3.11 and a beta of 0.24. The firm’s fifty day simple moving average is $118.93 and its two-hundred day simple moving average is $116.16.

J. M. Smucker (NYSE:SJM) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.27. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. The business had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the business posted $2.21 earnings per share. The business’s revenue was up 17.7% compared to the same quarter last year. As a group, analysts anticipate that The J. M. Smucker Company will post 9.82 earnings per share for the current year.

J. M. Smucker Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th were given a dividend of $1.08 per share. This is a boost from J. M. Smucker’s previous quarterly dividend of $1.06. The ex-dividend date was Friday, August 16th. This represents a $4.32 dividend on an annualized basis and a yield of 3.57%. J. M. Smucker’s payout ratio is 60.67%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. BNP Paribas raised shares of J. M. Smucker to a “strong sell” rating in a report on Thursday, August 29th. Bank of America lowered their target price on shares of J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Argus lowered their target price on shares of J. M. Smucker from $150.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, June 13th. 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 report on Thursday, August 29th. Finally, TD Cowen lowered their target price on shares of J. M. Smucker from $135.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, J. M. Smucker currently has an average rating of “Hold” and a consensus price target of $127.25.

J. M. Smucker Company 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.