Janney Montgomery Scott LLC Buys 12,008 Shares of The J. M. Smucker Company (NYSE:SJM)

Janney Montgomery Scott LLC grew its stake in The J. M. Smucker Company (NYSE:SJM) by 10.7% during the third quarter, Holdings Channel.com reports. The fund owned 124,280 shares of the company’s stock after purchasing an additional 12,008 shares during the quarter. Janney Montgomery Scott LLC’s holdings in J. M. Smucker were worth $15,050,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in SJM. Boston Partners bought a new position in J. M. Smucker in the first quarter worth approximately $364,990,000. Bank of Montreal Can grew its position in shares of J. M. Smucker by 186.3% during the 2nd quarter. Bank of Montreal Can now owns 805,029 shares of the company’s stock worth $90,195,000 after buying an additional 523,803 shares in the last quarter. Ariel Investments LLC increased its stake in shares of J. M. Smucker by 56.0% during the second quarter. Ariel Investments LLC now owns 1,354,999 shares of the company’s stock valued at $147,749,000 after buying an additional 486,624 shares during the period. Ilex Capital Partners UK LLP bought a new stake in shares of J. M. Smucker in the first quarter valued at about $48,207,000. Finally, Champlain Investment Partners LLC lifted its stake in J. M. Smucker by 29.0% in the first quarter. Champlain Investment Partners LLC now owns 1,457,995 shares of the company’s stock worth $183,518,000 after acquiring an additional 327,680 shares during the period. 81.66% of the stock is currently owned by institutional investors.

J. M. Smucker Stock Up 2.4 %

NYSE:SJM opened at $116.39 on Wednesday. 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 J. M. Smucker Company has a twelve month low of $105.69 and a twelve month high of $134.62. The company has a market cap of $12.39 billion, a PE ratio of 16.30, a P/E/G ratio of 3.23 and a beta of 0.25. The company’s 50 day moving average is $118.09 and its two-hundred day moving average is $115.74.

J. M. Smucker (NYSE:SJM) last released its earnings results on Wednesday, August 28th. The company reported $2.44 earnings per share (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 for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the firm earned $2.21 EPS. The firm’s revenue was up 17.7% on a year-over-year basis. Analysts anticipate that The J. M. Smucker Company will post 9.8 EPS for the current year.

J. M. Smucker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend is Friday, November 15th. J. M. Smucker’s dividend payout ratio (DPR) is 61.10%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Wells Fargo & Company reduced their price target on shares of J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, August 29th. Bank of America lowered their target price 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. Citigroup cut their price target on J. M. Smucker from $138.00 to $136.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. StockNews.com upgraded J. M. Smucker from a “sell” rating to a “hold” rating in a research note on Monday, September 30th. Finally, DA Davidson reiterated a “neutral” rating and issued a $121.00 target price on shares of J. M. Smucker in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently 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.