M&T Bank Corp Sells 2,434 Shares of The J. M. Smucker Company (NYSE:SJM)

M&T Bank Corp lowered its stake in The J. M. Smucker Company (NYSE:SJM) by 4.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 51,044 shares of the company’s stock after selling 2,434 shares during the quarter. M&T Bank Corp’s holdings in J. M. Smucker were worth $6,182,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. M&G Plc acquired a new stake in shares of J. M. Smucker in the 2nd quarter valued at approximately $603,000. Diversified Trust Co lifted its stake in J. M. Smucker by 4.4% in the second quarter. Diversified Trust Co now owns 6,882 shares of the company’s stock valued at $750,000 after acquiring an additional 288 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of J. M. Smucker by 6.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 16,522 shares of the company’s stock valued at $1,802,000 after acquiring an additional 1,056 shares during the period. Brown Lisle Cummings Inc. bought a new position in shares of J. M. Smucker in the 2nd quarter valued at about $159,000. Finally, Swedbank AB increased its stake in shares of J. M. Smucker by 14.1% during the 2nd quarter. Swedbank AB now owns 127,618 shares of the company’s stock worth $13,915,000 after purchasing an additional 15,792 shares during the last quarter. Institutional investors own 81.66% of the company’s stock.

J. M. Smucker Price Performance

NYSE:SJM opened at $113.25 on Thursday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.27 and a current ratio of 0.58. The firm has a market cap of $12.05 billion, a price-to-earnings ratio of 22.93, a P/E/G ratio of 3.23 and a beta of 0.26. The J. M. Smucker Company has a 52 week low of $105.69 and a 52 week high of $134.62. The firm’s 50-day simple moving average is $115.83 and its 200 day simple moving average is $115.83.

J. M. Smucker (NYSE:SJM) last released its quarterly earnings results on Tuesday, November 26th. The company reported $2.76 earnings per share for the quarter, beating analysts’ consensus estimates of $2.51 by $0.25. The company had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.27 billion. J. M. Smucker had a net margin of 5.96% and a return on equity of 14.35%. The firm’s quarterly revenue was up 17.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.59 earnings per share. As a group, sell-side analysts predict that The J. M. Smucker Company will post 9.9 earnings per share for the current year.

J. M. Smucker Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 3.81%. The ex-dividend date of this dividend was Friday, November 15th. J. M. Smucker’s dividend payout ratio (DPR) is currently 87.45%.

Wall Street Analyst Weigh In

A number of research firms recently commented on SJM. DA Davidson reiterated a “neutral” rating and set a $121.00 price target on shares of J. M. Smucker in a report on Thursday, August 29th. TD Cowen decreased their target price on J. M. Smucker from $135.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Barclays cut their price target on J. M. Smucker from $126.00 to $123.00 and set an “equal weight” rating for the company in a report on Wednesday, December 4th. BNP Paribas upgraded shares of J. M. Smucker to a “strong sell” rating in a report on Thursday, August 29th. Finally, Stifel Nicolaus cut shares of J. M. Smucker from a “buy” rating to a “hold” rating and cut their target price for the stock from $135.00 to $125.00 in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, J. M. Smucker presently has an average rating of “Hold” and a consensus target price of $128.56.

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.