Meridian Wealth Management LLC Buys New Stake in The J. M. Smucker Company (NYSE:SJM)

Meridian Wealth Management LLC purchased a new position in shares of The J. M. Smucker Company (NYSE:SJM) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,208 shares of the company’s stock, valued at approximately $267,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Studio Investment Management LLC acquired a new position in J. M. Smucker in the second quarter valued at approximately $26,000. Venturi Wealth Management LLC lifted its position in shares of J. M. Smucker by 1,329.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 243 shares of the company’s stock worth $29,000 after buying an additional 226 shares during the last quarter. Quarry LP boosted its holdings in shares of 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 buying an additional 219 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of J. M. Smucker in the 3rd quarter valued at $39,000. Finally, Eastern Bank acquired a new stake in J. M. Smucker during the 3rd quarter worth $40,000. 81.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Citigroup dropped 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. Bank of America dropped their price target on J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. StockNews.com raised J. M. Smucker from a “sell” rating to a “hold” rating in a report on Monday, September 30th. Stifel Nicolaus cut shares of J. M. Smucker from a “buy” rating to a “hold” rating and cut their target price for the company from $135.00 to $125.00 in a report on Friday, October 25th. Finally, TD Cowen decreased their price target 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. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $127.09.

J. M. Smucker Trading Up 0.3 %

Shares of J. M. Smucker stock opened at $113.65 on Tuesday. 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 firm has a market cap of $12.09 billion, a price-to-earnings ratio of 16.07, a price-to-earnings-growth ratio of 3.18 and a beta of 0.25. The J. M. Smucker Company has a 52-week low of $105.69 and a 52-week high of $134.62. The company’s 50-day simple moving average is $116.42 and its 200-day simple moving average is $115.55.

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

J. M. Smucker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be paid a dividend of $1.08 per share. The ex-dividend date is Friday, November 15th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.80%. J. M. Smucker’s dividend payout ratio (DPR) is presently 61.10%.

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.