Point72 Asset Management L.P. Has $95.12 Million Stake in The J. M. Smucker Company (NYSE:SJM)

Point72 Asset Management L.P. decreased its position in shares of The J. M. Smucker Company (NYSE:SJM) by 33.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 872,367 shares of the company’s stock after selling 445,777 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.82% of J. M. Smucker worth $95,123,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Czech National Bank lifted its holdings in J. M. Smucker by 0.5% during the 1st quarter. Czech National Bank now owns 18,676 shares of the company’s stock worth $2,351,000 after buying an additional 88 shares during the period. Resonant Capital Advisors LLC lifted its holdings in J. M. Smucker by 0.7% during the 1st quarter. Resonant Capital Advisors LLC now owns 14,328 shares of the company’s stock worth $1,803,000 after buying an additional 93 shares during the period. State of Michigan Retirement System lifted its holdings in J. M. Smucker by 0.3% during the 2nd quarter. State of Michigan Retirement System now owns 33,561 shares of the company’s stock worth $3,659,000 after buying an additional 100 shares during the period. PFG Investments LLC lifted its holdings in J. M. Smucker by 5.9% during the 2nd quarter. PFG Investments LLC now owns 1,959 shares of the company’s stock worth $214,000 after buying an additional 109 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in J. M. Smucker by 2.7% during the 2nd quarter. Van ECK Associates Corp now owns 4,463 shares of the company’s stock worth $487,000 after buying an additional 118 shares during the period. Institutional investors and hedge funds own 81.66% of the company’s stock.

J. M. Smucker Stock Performance

Shares of J. M. Smucker stock opened at $121.15 on Monday. The J. M. Smucker Company has a one year low of $105.69 and a one year high of $134.62. The firm has a market capitalization of $12.89 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 3.21 and a beta of 0.24. The business has a 50-day simple moving average of $118.93 and a 200 day simple moving average of $116.06. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.55 and a quick ratio of 0.25.

J. M. Smucker (NYSE:SJM) last issued its earnings results on Wednesday, August 28th. The company reported $2.44 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the company posted $2.21 EPS. The firm’s revenue was up 17.7% compared to the same quarter last year. On average, research analysts anticipate 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 disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th were issued a dividend of $1.08 per share. This is a positive change from J. M. Smucker’s previous quarterly dividend of $1.06. This represents a $4.32 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date was Friday, August 16th. J. M. Smucker’s payout ratio is currently 60.67%.

Wall Street Analyst Weigh In

SJM has been the topic of several recent research reports. BNP Paribas raised J. M. Smucker to a “strong sell” rating in a report on Thursday, August 29th. Barclays cut their target price on J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating on the stock in a report on Friday, August 30th. TD Cowen cut their target price on J. M. Smucker from $135.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. StockNews.com lowered J. M. Smucker from a “hold” rating to a “sell” rating in a research report on Saturday, September 14th. Finally, Bank of America lowered their price objective on J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price 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.