Alethea Capital Management LLC Takes Position in The J. M. Smucker Company (NYSE:SJM)

Alethea Capital Management LLC purchased a new position in shares of The J. M. Smucker Company (NYSE:SJM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 4,093 shares of the company’s stock, valued at approximately $446,000. J. M. Smucker accounts for approximately 0.3% of Alethea Capital Management LLC’s portfolio, making the stock its 20th biggest holding.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Studio Investment Management LLC purchased a new stake in shares of J. M. Smucker during the 2nd quarter worth approximately $26,000. Cooksen Wealth LLC bought a new position in J. M. Smucker during the fourth quarter valued at $33,000. Rothschild Investment LLC bought a new stake in shares of J. M. Smucker in the second quarter valued at $42,000. Central Valley Advisors LLC purchased a new stake in J. M. Smucker in the 2nd quarter worth about $45,000. Finally, Quest Partners LLC lifted its holdings in 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 purchasing an additional 399 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

J. M. Smucker Stock Performance

J. M. Smucker stock opened at $121.15 on Friday. The J. M. Smucker Company has a fifty-two week low of $105.69 and a fifty-two week high of $134.62. The firm’s fifty day moving average price is $118.93 and its 200-day moving average price is $116.16. The stock has a market cap of $12.87 billion, a P/E ratio of 17.02, a price-to-earnings-growth ratio of 3.11 and a beta of 0.24. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.25 and a current ratio of 0.55.

J. M. Smucker (NYSE:SJM) last released its earnings results on Wednesday, August 28th. The company reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.27. The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. J. M. Smucker had a return on equity of 14.22% and a net margin of 8.77%. J. M. Smucker’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.21 EPS. On average, equities research analysts expect that The J. M. Smucker Company will post 9.82 earnings per share for the current fiscal year.

J. M. Smucker Increases Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Citigroup lowered their price target on shares of J. M. Smucker from $138.00 to $136.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. BNP Paribas upgraded 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 price target on shares of J. M. Smucker in a research report on Thursday, August 29th. StockNews.com cut J. M. Smucker from a “hold” rating to a “sell” rating in a report on Saturday, September 14th. Finally, Wells Fargo & Company reduced their target price on J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, August 29th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, J. M. Smucker presently has a consensus rating of “Hold” and an average target price of $127.25.

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.