Assenagon Asset Management S.A. Cuts Stock Position in The J. M. Smucker Company (NYSE:SJM)

Assenagon Asset Management S.A. decreased its holdings in The J. M. Smucker Company (NYSE:SJM) by 8.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 145,881 shares of the company’s stock after selling 13,992 shares during the quarter. Assenagon Asset Management S.A. owned 0.14% of J. M. Smucker worth $17,666,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Romano Brothers AND Company increased its position in shares of J. M. Smucker by 3.5% during the third quarter. Romano Brothers AND Company now owns 2,987 shares of the company’s stock worth $362,000 after acquiring an additional 100 shares during the period. International Assets Investment Management LLC boosted its stake in shares of J. M. Smucker by 4,996.0% in the 3rd quarter. International Assets Investment Management LLC now owns 207,202 shares of the company’s stock valued at $25,092,000 after buying an additional 203,136 shares during the period. Guidance Capital Inc. grew its position in shares of J. M. Smucker by 4.5% during the third quarter. Guidance Capital Inc. now owns 7,824 shares of the company’s stock worth $952,000 after buying an additional 336 shares in the last quarter. Greenleaf Trust increased its stake in shares of J. M. Smucker by 15.0% during the third quarter. Greenleaf Trust now owns 6,063 shares of the company’s stock worth $734,000 after buying an additional 792 shares during the period. Finally, Commerzbank Aktiengesellschaft FI raised its holdings in J. M. Smucker by 52.1% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 47,861 shares of the company’s stock valued at $5,796,000 after acquiring an additional 16,402 shares in the last quarter. Institutional investors and hedge funds own 81.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Bank of America dropped their price objective on shares of 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 J. M. Smucker from a “sell” rating to a “hold” rating in a report on Monday, September 30th. DA Davidson reiterated a “neutral” rating and issued a $121.00 price objective on shares of J. M. Smucker in a report on Thursday, August 29th. TD Cowen decreased their target price on J. M. Smucker from $135.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Finally, Citigroup dropped 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 note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, J. M. Smucker currently has a consensus rating of “Hold” and an average price target of $126.42.

J. M. Smucker Trading Down 0.8 %

NYSE SJM opened at $116.07 on Friday. The firm’s fifty day moving average is $118.99 and its two-hundred day moving average is $115.58. The J. M. Smucker Company has a one year low of $105.69 and a one year high of $134.62. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.25 and a current ratio of 0.55. The firm has a market cap of $12.33 billion, a PE ratio of 16.30, a P/E/G ratio of 3.12 and a beta of 0.24.

J. M. Smucker (NYSE:SJM) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $2.44 EPS for the quarter, beating 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 firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the business earned $2.21 EPS. The firm’s revenue was up 17.7% compared to the same quarter last year. Analysts expect that The J. M. Smucker Company will post 9.82 earnings per share for the current year.

J. M. Smucker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be given a $1.08 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.32 dividend on an annualized basis and a yield of 3.72%. J. M. Smucker’s dividend payout ratio (DPR) is 60.67%.

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.