United Capital Financial Advisers LLC reduced its position in The J. M. Smucker Company (NYSE:SJM – Get Rating) by 14.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,981 shares of the company’s stock after selling 328 shares during the quarter. United Capital Financial Advisers LLC’s holdings in J. M. Smucker were worth $272,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada increased its holdings in J. M. Smucker by 9.7% in the third quarter. Royal Bank of Canada now owns 95,651 shares of the company’s stock valued at $13,142,000 after buying an additional 8,489 shares during the last quarter. Visionary Wealth Advisors increased its holdings in J. M. Smucker by 7.1% in the third quarter. Visionary Wealth Advisors now owns 40,325 shares of the company’s stock valued at $5,541,000 after buying an additional 2,677 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in J. M. Smucker in the third quarter valued at about $41,973,000. Fiduciary Trust Co. bought a new stake in J. M. Smucker in the third quarter valued at about $201,000. Finally, Lazard Asset Management LLC increased its holdings in J. M. Smucker by 12,044.6% in the third quarter. Lazard Asset Management LLC now owns 23,682 shares of the company’s stock valued at $3,253,000 after buying an additional 23,487 shares during the last quarter. 79.21% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
SJM has been the subject of a number of research reports. Morgan Stanley upgraded J. M. Smucker from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $135.00 to $158.00 in a research note on Tuesday, December 20th. Credit Suisse Group lifted their target price on J. M. Smucker from $145.00 to $165.00 in a research note on Thursday, December 15th. BNP Paribas initiated coverage on J. M. Smucker in a research note on Tuesday, November 15th. They issued an “underperform” rating and a $138.00 target price for the company. JPMorgan Chase & Co. lifted their target price on J. M. Smucker from $157.00 to $158.00 and gave the company a “neutral” rating in a research note on Thursday, March 2nd. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on J. M. Smucker from $148.00 to $153.00 and gave the company a “hold” rating in a research note on Tuesday, December 6th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, J. M. Smucker presently has a consensus rating of “Hold” and an average target price of $149.70.
J. M. Smucker Stock Performance
J. M. Smucker (NYSE:SJM – Get Rating) last announced its earnings results on Tuesday, February 28th. The company reported $2.21 EPS for the quarter, topping the consensus estimate of $2.13 by $0.08. J. M. Smucker had a return on equity of 11.10% and a net margin of 8.54%. The firm had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.22 billion. During the same quarter in the previous year, the company earned $2.33 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts forecast that The J. M. Smucker Company will post 8.69 EPS for the current year.
J. M. Smucker Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Friday, February 10th were issued a dividend of $1.02 per share. The ex-dividend date was Thursday, February 9th. This represents a $4.08 annualized dividend and a yield of 2.72%. J. M. Smucker’s payout ratio is 61.45%.
J. M. Smucker Profile
The J. M. Smucker Co engages in the manufacture and marketing of food and beverage products. It operates through the following segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The U. S. Retail Coffee segment includes domestic sales of Folgers, Dunkin’ Donuts, and Café Bustelo branded coffee.
Read More
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