Allworth Financial LP Trims Stake in The J. M. Smucker Company (NYSE:SJM)

Allworth Financial LP lessened its position in The J. M. Smucker Company (NYSE:SJM) by 20.7% in the third quarter, HoldingsChannel reports. The firm owned 1,860 shares of the company’s stock after selling 487 shares during the quarter. Allworth Financial LP’s holdings in J. M. Smucker were worth $225,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Studio Investment Management LLC purchased a new position in J. M. Smucker during the second quarter valued at $26,000. Quarry LP lifted its position in J. M. Smucker by 212.6% during the 2nd quarter. Quarry LP now owns 322 shares of the company’s stock valued at $35,000 after acquiring an additional 219 shares during the period. Eastern Bank bought a new stake in J. M. Smucker during the third quarter worth about $40,000. Trivant Custom Portfolio Group LLC purchased a new stake in J. M. Smucker in the third quarter worth about $42,000. Finally, Rothschild Investment LLC bought a new position in shares of J. M. Smucker during the second quarter valued at approximately $42,000. 81.66% of the stock is currently owned by institutional investors.

J. M. Smucker Trading Up 0.1 %

NYSE:SJM opened at $113.90 on Thursday. The company has a market cap of $12.12 billion, a PE ratio of 16.11, a price-to-earnings-growth ratio of 3.32 and a beta of 0.24. The company has a current ratio of 0.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.87. The company has a 50 day simple moving average of $118.58 and a two-hundred day simple moving average of $115.64. The J. M. Smucker Company has a 12 month low of $105.69 and a 12 month high of $134.62.

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 analysts’ consensus estimates of $2.17 by $0.27. The company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.21 earnings per share. Research analysts forecast that The J. M. Smucker Company will post 9.81 earnings per share for the current year.

J. M. Smucker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date is Friday, November 15th. J. M. Smucker’s payout ratio is 61.10%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SJM. Wells Fargo & Company cut their price target on J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, August 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. StockNews.com upgraded shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Monday, September 30th. Stifel Nicolaus lowered shares of J. M. Smucker from a “buy” rating to a “hold” rating and reduced their price objective for the company from $135.00 to $125.00 in a research note on Friday, October 25th. Finally, BNP Paribas upgraded shares of J. M. Smucker to a “strong sell” rating in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $126.42.

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.