Intech Investment Management LLC Acquires 6,488 Shares of The J. M. Smucker Company (NYSE:SJM)

Intech Investment Management LLC increased its stake in The J. M. Smucker Company (NYSE:SJM) by 18.5% during the 3rd quarter, Holdings Channel reports. The firm owned 41,490 shares of the company’s stock after purchasing an additional 6,488 shares during the quarter. Intech Investment Management LLC’s holdings in J. M. Smucker were worth $5,024,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Boston Partners bought a new position in shares of J. M. Smucker in the 1st quarter worth $364,990,000. Bank of Montreal Can increased its stake in J. M. Smucker by 186.3% in the second quarter. Bank of Montreal Can now owns 805,029 shares of the company’s stock valued at $90,195,000 after acquiring an additional 523,803 shares during the last quarter. Thrivent Financial for Lutherans raised its position in J. M. Smucker by 891.3% during the third quarter. Thrivent Financial for Lutherans now owns 579,903 shares of the company’s stock valued at $70,226,000 after purchasing an additional 521,404 shares in the last quarter. Ariel Investments LLC lifted its stake in J. M. Smucker by 56.0% during the second quarter. Ariel Investments LLC now owns 1,354,999 shares of the company’s stock worth $147,749,000 after purchasing an additional 486,624 shares during the last quarter. Finally, Ilex Capital Partners UK LLP purchased a new position in shares of J. M. Smucker in the 1st quarter worth about $48,207,000. 81.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SJM shares. Stifel Nicolaus downgraded J. M. Smucker from a “buy” rating to a “hold” rating and dropped their target price for the stock from $135.00 to $125.00 in a research report on Friday, October 25th. TD Cowen cut their price objective on shares of 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. Barclays decreased their target price on shares of J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating on the stock in a research report on Friday, August 30th. StockNews.com upgraded shares of J. M. Smucker from a “sell” rating to a “hold” rating in a research report on Monday, September 30th. Finally, Citigroup decreased their price objective 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $127.09.

J. M. Smucker Price Performance

Shares of J. M. Smucker stock opened at $113.30 on Friday. The company has a market cap of $12.06 billion, a PE ratio of 16.03, a P/E/G ratio of 3.19 and a beta of 0.25. The business has a 50 day moving average of $116.57 and a 200 day moving average of $115.52. 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.

J. M. Smucker (NYSE:SJM) last posted its earnings results on Wednesday, August 28th. The company reported $2.44 EPS for the quarter, topping the consensus estimate of $2.17 by $0.27. The firm had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.13 billion. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period last year, the company posted $2.21 EPS. As a group, equities research analysts forecast that The J. M. Smucker Company will post 9.79 earnings per share for the current year.

J. M. Smucker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be given a dividend of $1.08 per share. The ex-dividend date is Friday, November 15th. This represents a $4.32 annualized dividend and a yield of 3.81%. J. M. Smucker’s payout ratio is 61.10%.

J. M. Smucker Company 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.