State of Alaska Department of Revenue Trims Holdings in The J. M. Smucker Company (NYSE:SJM)

State of Alaska Department of Revenue cut its position in The J. M. Smucker Company (NYSE:SJM) by 27.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,172 shares of the company’s stock after selling 7,280 shares during the period. State of Alaska Department of Revenue’s holdings in J. M. Smucker were worth $2,320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of SJM. Studio Investment Management LLC purchased a new position in J. M. Smucker during the 2nd quarter valued at approximately $26,000. Quarry LP increased its position in J. M. Smucker by 212.6% in the second quarter. Quarry LP now owns 322 shares of the company’s stock worth $35,000 after purchasing an additional 219 shares during the last quarter. Eastern Bank bought a new position in J. M. Smucker during the third quarter valued at $40,000. Rothschild Investment LLC bought a new stake in shares of J. M. Smucker in the 2nd quarter worth about $42,000. Finally, Trivant Custom Portfolio Group LLC purchased a new stake in shares of J. M. Smucker during the 3rd quarter valued at about $42,000. 81.66% of the stock is currently owned by institutional investors.

J. M. Smucker Trading Down 0.6 %

Shares of NYSE:SJM opened at $112.88 on Friday. 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 market capitalization of $12.01 billion, a PE ratio of 15.97, a PEG ratio of 3.26 and a beta of 0.24. The business has a 50 day moving average of $118.25 and a two-hundred day 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 released its quarterly 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. J. M. Smucker had a return on equity of 14.22% and a net margin of 8.77%. The company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the prior year, the firm posted $2.21 EPS. J. M. Smucker’s quarterly revenue was up 17.7% compared to the same quarter last year. As a group, analysts forecast that The J. M. Smucker Company will post 9.8 EPS for the current year.

J. M. Smucker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend is Friday, November 15th. J. M. Smucker’s dividend payout ratio is presently 61.10%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Barclays decreased their price target 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. Bank of America decreased their price objective on shares of J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. BNP Paribas raised shares of J. M. Smucker to a “strong sell” rating in a research note on Thursday, August 29th. TD Cowen reduced their price objective 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. Finally, StockNews.com raised J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Monday, September 30th. One investment 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $126.42.

J. M. Smucker 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.