State of New Jersey Common Pension Fund D Sells 412 Shares of The J. M. Smucker Company (NYSE:SJM)

State of New Jersey Common Pension Fund D reduced its stake in The J. M. Smucker Company (NYSE:SJM) by 1.1% during the third quarter, according to its most recent filing with the SEC. The fund owned 38,500 shares of the company’s stock after selling 412 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in J. M. Smucker were worth $4,662,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Sigma Planning Corp lifted its holdings in J. M. Smucker by 5.1% during the third quarter. Sigma Planning Corp now owns 4,115 shares of the company’s stock valued at $498,000 after purchasing an additional 201 shares during the last quarter. Klingman & Associates LLC bought a new stake in shares of J. M. Smucker in the third quarter valued at approximately $230,000. CWA Asset Management Group LLC bought a new stake in shares of J. M. Smucker in the third quarter valued at approximately $269,000. Fiera Capital Corp purchased a new stake in shares of J. M. Smucker during the 3rd quarter valued at approximately $473,000. Finally, Philip James Wealth Mangement LLC bought a new position in J. M. Smucker in the 3rd quarter worth approximately $247,000. Institutional investors own 81.66% of the company’s stock.

J. M. Smucker Trading Down 1.5 %

J. M. Smucker stock opened at $111.95 on Wednesday. The business has a 50-day simple moving average of $117.92 and a two-hundred day simple moving average of $115.68. The J. M. Smucker Company has a 52-week low of $105.69 and a 52-week high of $134.62. The company has a quick ratio of 0.25, a current ratio of 0.55 and a debt-to-equity ratio of 0.87. The company has a market cap of $11.91 billion, a P/E ratio of 15.83, a P/E/G ratio of 3.30 and a beta of 0.25.

J. M. Smucker (NYSE:SJM) last announced its earnings results on Wednesday, August 28th. The company reported $2.44 EPS 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 for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the firm earned $2.21 EPS. J. M. Smucker’s revenue for the quarter was up 17.7% compared to the same quarter last year. Analysts predict that The J. M. Smucker Company will post 9.8 EPS 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. 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 3.86%. The ex-dividend date is Friday, November 15th. J. M. Smucker’s dividend payout ratio (DPR) is 61.10%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SJM shares. BNP Paribas upgraded J. M. Smucker to a “strong sell” rating in a research note on Thursday, August 29th. Wells Fargo & Company decreased their price target on J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, August 29th. Stifel Nicolaus lowered shares of J. M. Smucker from a “buy” rating to a “hold” rating and cut their price objective for the company from $135.00 to $125.00 in a research report on Friday, October 25th. StockNews.com raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a report on Monday, September 30th. Finally, Bank of America cut their price target 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. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target 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.