US Bancorp DE Has $4.99 Million Stock Holdings in The J. M. Smucker Company (NYSE:SJM)

US Bancorp DE increased its stake in shares of The J. M. Smucker Company (NYSE:SJM) by 1.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,171 shares of the company’s stock after purchasing an additional 559 shares during the quarter. US Bancorp DE’s holdings in J. M. Smucker were worth $4,986,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Palumbo Wealth Management LLC raised its position in shares of J. M. Smucker by 3.5% in the third quarter. Palumbo Wealth Management LLC now owns 14,095 shares of the company’s stock valued at $1,707,000 after purchasing an additional 481 shares during the period. First Trust Direct Indexing L.P. grew its position in J. M. Smucker by 17.5% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 6,197 shares of the company’s stock valued at $750,000 after purchasing an additional 924 shares during the last quarter. Trajan Wealth LLC boosted its holdings in shares of J. M. Smucker by 11.8% during the 3rd quarter. Trajan Wealth LLC now owns 39,035 shares of the company’s stock valued at $4,727,000 after acquiring an additional 4,113 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. boosted its holdings in shares of J. M. Smucker by 0.5% in the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 123,382 shares of the company’s stock worth $14,942,000 after buying an additional 673 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in J. M. Smucker by 2.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 6,070 shares of the company’s stock worth $735,000 after acquiring an additional 134 shares during the period. 81.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SJM shares. TD Cowen reduced their price target on shares of J. M. Smucker from $135.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. DA Davidson reaffirmed a “neutral” rating and set a $121.00 price objective on shares of J. M. Smucker in a research note on Thursday, August 29th. Barclays dropped their price objective on shares of J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating for the company in a research note on Friday, August 30th. StockNews.com raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Monday, September 30th. Finally, Bank of America dropped 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 research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, J. M. Smucker has an average rating of “Hold” and an average price target of $126.42.

J. M. Smucker Stock Performance

J. M. Smucker stock opened at $113.69 on Tuesday. The stock’s 50 day moving average price is $118.25 and its 200 day moving average price is $115.72. The firm has a market capitalization of $12.10 billion, a PE ratio of 16.08, a price-to-earnings-growth ratio of 3.24 and a beta of 0.25. 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 J. M. Smucker Company has a one year low of $105.69 and a one year high of $134.62.

J. M. Smucker (NYSE:SJM) last released its quarterly earnings results on Wednesday, August 28th. The company reported $2.44 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the company posted $2.21 EPS. J. M. Smucker’s revenue for the quarter was up 17.7% on a year-over-year basis. As a group, sell-side analysts expect that The J. M. Smucker Company will post 9.8 EPS for the current fiscal year.

J. M. Smucker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be paid a dividend of $1.08 per share. The ex-dividend date is Friday, November 15th. This represents a $4.32 dividend on an annualized basis and a yield of 3.80%. J. M. Smucker’s payout ratio is currently 61.10%.

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.