The J. M. Smucker Company (NYSE:SJM) Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA lessened its stake in The J. M. Smucker Company (NYSE:SJM) by 3.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,107 shares of the company’s stock after selling 539 shares during the period. Glenmede Trust Co. NA’s holdings in J. M. Smucker were worth $1,829,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Studio Investment Management LLC acquired a new position in J. M. Smucker in the 2nd quarter valued at about $26,000. Venturi Wealth Management LLC increased its position in J. M. Smucker by 1,329.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 243 shares of the company’s stock valued at $29,000 after acquiring an additional 226 shares during the period. Quarry LP increased its position in J. M. Smucker by 212.6% in the 2nd quarter. Quarry LP now owns 322 shares of the company’s stock valued at $35,000 after acquiring an additional 219 shares during the period. Catalyst Capital Advisors LLC acquired a new position in J. M. Smucker in the 3rd quarter valued at about $39,000. Finally, Eastern Bank acquired a new position in J. M. Smucker during the 3rd quarter worth approximately $40,000. Institutional investors and hedge funds own 81.66% of the company’s stock.

J. M. Smucker Stock Performance

Shares of NYSE SJM opened at $117.79 on Monday. The company has a quick ratio of 0.25, a current ratio of 0.58 and a debt-to-equity ratio of 0.89. The firm’s 50-day moving average price is $116.34 and its two-hundred day moving average price is $115.64. The J. M. Smucker Company has a 52-week low of $105.69 and a 52-week high of $134.62. The stock has a market capitalization of $12.53 billion, a P/E ratio of 23.84, a P/E/G ratio of 3.29 and a beta of 0.25.

J. M. Smucker (NYSE:SJM) last announced its quarterly earnings results on Tuesday, November 26th. The company reported $2.76 EPS for the quarter, beating the consensus estimate of $2.49 by $0.27. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.35%. The company had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter last year, the business earned $2.59 earnings per share. J. M. Smucker’s revenue was up 17.2% compared to the same quarter last year. As a group, sell-side analysts forecast that The J. M. Smucker Company will post 9.87 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. Investors of record on Friday, November 15th will be paid a dividend of $1.08 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.67%. J. M. Smucker’s dividend payout ratio is presently 87.45%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SJM shares. Wells Fargo & Company boosted their target price on J. M. Smucker from $130.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. TD Cowen dropped their target price on 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. Barclays boosted their target price on J. M. Smucker from $121.00 to $126.00 and gave the stock an “equal weight” rating in a research report on Friday. Bank of America dropped their target price on J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Finally, Citigroup decreased their price target on J. M. Smucker from $138.00 to $136.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $128.00.

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.