Los Angeles Capital Management LLC Sells 46,441 Shares of The J. M. Smucker Company (NYSE:SJM)

Los Angeles Capital Management LLC lessened its stake in The J. M. Smucker Company (NYSE:SJM) by 82.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 10,026 shares of the company’s stock after selling 46,441 shares during the quarter. Los Angeles Capital Management LLC’s holdings in J. M. Smucker were worth $1,214,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SJM. Studio Investment Management LLC purchased a new position in J. M. Smucker in the second quarter worth $26,000. Quarry LP lifted its stake in J. M. Smucker by 212.6% during 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. Catalyst Capital Advisors LLC purchased a new position in shares of J. M. Smucker in the 3rd quarter worth about $39,000. Eastern Bank bought a new position in shares of J. M. Smucker during the 3rd quarter valued at about $40,000. Finally, Rothschild Investment LLC purchased a new position in shares of J. M. Smucker during the 2nd quarter valued at about $42,000. Institutional investors own 81.66% of the company’s stock.

J. M. Smucker Trading Down 0.3 %

NYSE SJM opened at $110.74 on Friday. The stock has a market cap of $11.78 billion, a P/E ratio of 15.66, a price-to-earnings-growth ratio of 3.20 and a beta of 0.25. The J. M. Smucker Company has a fifty-two week low of $105.69 and a fifty-two week high of $134.62. The stock has a 50 day simple moving average of $117.52 and a two-hundred day simple moving average of $115.61. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.25 and a current ratio of 0.55.

J. M. Smucker (NYSE:SJM) last announced its quarterly 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 during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the firm posted $2.21 earnings per share. The firm’s revenue was up 17.7% on a year-over-year basis. On average, analysts forecast that The J. M. Smucker Company will post 9.8 earnings per share for the current year.

J. M. Smucker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be issued a $1.08 dividend. The ex-dividend date is Friday, November 15th. This represents a $4.32 annualized dividend and a yield of 3.90%. J. M. Smucker’s dividend payout ratio (DPR) is presently 61.10%.

Analyst Ratings Changes

SJM has been the subject of several research reports. TD Cowen cut their target price on J. M. Smucker from $135.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Wells Fargo & Company reduced their target price on shares of J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, August 29th. Stifel Nicolaus downgraded shares of J. M. Smucker from a “buy” rating to a “hold” rating and lowered their price target for the stock from $135.00 to $125.00 in a research note on Friday, October 25th. Citigroup cut their price target on shares of J. M. Smucker from $138.00 to $136.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Finally, BNP Paribas raised 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, eight have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $127.09.

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.